Nashville Real Estate and Relocation Guide!
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Nashville real estate continues to offer a great quality of living at a reasonable value.
In 2006 the market had remained relatively strong in Nashville. 2007 saw a softening of the real estate market across the USA due in part to the sub prime mortgage collapse.
As a result of a change in the "mind set" of home and condo buyers in general, the first quarter of 2008 has not been so kind to Nashville real estate sellers. Home buyers are in a "wait and see" mode and are prepared to wait for the market to reach rock bottom before they commit to buying a new home. Interestingly sales are still very active in Nashville due in part to the continued appeal for Nashville as a city attracting major corporate relocations.
The Greater Nashville Association of Realtors reported 34,221 home closings for the year of 2007. This represents a decrease of 5,835 home sales from the 40,056 closings reported for in 2006. Prices were up, however, from $184,000 in 2006, to $189,719 in 2007.
Year-to-date 2008 home and condo closings for the Greater Nashville area are 1,892, down 26.5 percent compared to the 2,575 closings reported through February 2007. 2006 was historically the best year ever for regional home sales in Nashville.
The Metro government's announcement regarding an agreement to develop a downtown baseball park for the Sounds team and mixed use residential/commercial property adjacent to the park seems to have been shelved for now. This property is right in the heart of a thriving city, right on the Cumberland River. The new Nashville Convention Center seems to a new project that has a better chance of being completed. This is important to the Nashville economy as a whole as conventions in actual fact represent one of the best flagships for promoting the city and the quality of life in Nashville. Conventions attract businesses and events from all over the USA and present the city of Nashville a fantastic opportunity to promote itself to potential new corporate relocations which will generate more new residents and continue to develop the cosmopolitan appeal of Nashville. To see a full presentation given to the Metro City Council by the Mayor click here for the Official Presentation.
The proposed center would include a 375,000 foot exhibit hall; 80 and 90 meeting rooms; two ballrooms; a 300-seat lecture hall and a theater. The cost is estimated to be around $635 Million. Watch the TV report hereThe Covention Center would also add another
dimension to the appeal of living and working in downtown Nashville. All the attendees and residents of downtown need to eat and enjoy the entertainment that would be enhanced by this new project.
The downtown Nashville condo market continues to be very attractive to buyers looking for the convenience of downtown living and the state of the art features and design of the new condos and lofts. Areas of Nashville, like West End and the Gulch, are giving the condo buyers the opportunity to live in a vibrant and diverse neighborhood that in the past has only been available in a select number of urban communities across the USA.
Downtown Nashville is attracting the attention of buyers who are looking to take advantage of the growth of cultural activities and nighlife that Nashville now offers. Buyers are tapping into the new concept of a 2nd home in the city which enables them the have the opportunity to live in the suburbs and have a downtown residence. Nashville suburbs are no longer selling properties at the record rate set in 2006 but the demand is still very strong and the list price to sale price reduction is still only in the 2-3% range. New construction in Nashville is probably showing some of the biggest list price reductions as the builders have a lot of money tied up in their homes and if they started speculating in the boom the time lag between investing and selling can cause some builders to go bankrupt or file for Cahpter 7 to reorganize. As the number of new homes is reduced thereby reducing the inventory of homes available eventually the demand will entice these builders back to builing speculative homes. Nashville metro and Davidson County combine to form a single local government.
Interestingly Nashville is known as the Athens of the South, due to the vast amount of Greek architectural structures scattered throughout the downtown area. Nashville has the only exact full size replica of the Parthenon in the world.
Quick Homes Search
Create your own quick search to easily find homes in the price range and area you are looking for. Click HERENashville Real Estate Agent Qualifications
If you are thinking of selling your Nashville property choose a real estate team who has been working in Nashville for decades. Nashville relocation is our specialty! The Ashton Real Estate Group of RE/MAX Elite and Nashville.com team has closed on hundreds of Nashville homes, condos and land. We go the extra mile to assure that your transaction is our first priority.
Search the Nashville MLS
There are routinely 10,000 – 12,000 homes and condos for sale in the Greater Nashville area. Compared to the rest of the USA homes are not on the market too long before they are sold. On average it now takes about 90 days to sell a home in Nashville Tennessee! Use our interactive mapping Nashville MLS Search to not only search for homes, but also save your searches and get notified each day of new properties that hit the Nashville real estate market and MLS.
Take some time and explore our comprehensive Nashville loft and condos guide, search the Nashville MLS and ultimately choose a Nashville Realtor and Nashville Real Estate Team that will represent you honestly, fairly and professional.
The Ashton Real Estate Group of RE/MAX Elite
Nashville is Growing!
Maybe you aren't interested in Nashville real estate per se; maybe some of the outlying areas are of more interest to you such as Hendersonville and Gallatin on Old Hickory lake or Historic Franklin just to south of Brentwood.
Check out our list of Nashville Neighborhoods and communities and then search the Nashville MLS to see if you can find a home or condo that meets your needs!
There are a ton of homes for sale by owner in Nashville. This site does not specialize in home for sale by owner, but it's worth noting that many homeowners try it on their own first, before retaining the services of a Nashville realtor.