Nashville market update

Hello all,

Things are great in the world of Andra. After being out of town a week in New England, I’m still feeling great about the market here. Why was in New England you may wonder? Well, my better half, decided to surprise me with a trip up the coast into Maine. It was beautiful! We even got engaged!

The housing market, however, seemed slow. Nothing like here. Of course Maine is big area for vacation and second homes, but man, I’ve never seen so many listings in my life. Surprisingly enough, a lot weren’t listed for very much. Well, not as much as I thought a house across from the ocean would cost. There were even some in the $100-200k range. Not on the best areas, but still right by the water. So if you are looking at Maine, it’s a great time for buyers. And if your really serious, I’d be more than happy to send a referral for you.

So back to Nashville. We are down a little for the month in sales compared to last year, but not nearly as slow as the national average. And the condo market is great. Many people are concerned that we are flooding the market by building all these condos, but in fact, we are WAY behind in comparison to Charlotte, Memphis, and St Louis.

According to the Nashville Downtown Partnership, the 2007 report states that as of 2007, Nashville has only 3,219 residents downtown. In comparison, Charlotte has 12,828 residents and Memphis has 28,526. That’s WAY LESS! We need to make up for it!

By 2009 Nashville has projected 7,978 residents, where Charlotte plans to be at 20,000. That’s a major difference. Not only that, we don’t even have that many available to sell left as of right now, in the Nashville downtown area. Just a couple 100 or so. This is a great time to get on board if you are looking.

Things will get better. If you are interested in looking or even just curious, please let me know! Until next time….

Happy Hunting!

Andra

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