The statistics are unfathomable . . . So I’m not going to tackle reporting those in detail.
Instead, let’s talk about things from a more holistic approach.
What kind of market is this? (STRONG)
Where are the HOT spots? (EVERYWHERE in Middle TN)
When will things turn – cool down? (NOT in the foreseeable future)
From the perspective of this native Nashvillian (Yes – There ARE some folks living here who grew up here), How does it feel to experience all of this change/growth? (Exhilarating and overwhelming)
Do we lament the quickly transformation of every nook an cranny, or do we embrace and celebrate the relatively newfound fame and fortune? (We’re resigned to the reality that this movement has HUGE momentum and is not going to taper any time soon)
What’s next? (NOBODY knows . . . The Mantra is “Enjoy it while we’ve got it”)
It seems that Nashville is FULL . . . yet businesses continue to relocate here bringing with them MORE people and MORE buildings and more of EVERYTHING that goes with the title “IT CITY”.
One thing I’ve noticed . . . everything is going more vertical.
New houses on smaller foundations 3 (or more Levels) with rooftop “outdoor living spaces” instead of Decks in fenced yards.
Mixed use buildings are taller than ever and each one is a veritable self-sustaining village including retail, grocery, restaurants & bars, Hotels, Office, apartments (rental) and Condominiums (purchase) . . . all at unbelievably exorbitant (by “old Nashville standards”) prices.
I’ve yet to hear an economic expert dare whisper anything akin to any sign whatsoever that this pace of growth will lessen.
“They” say that the real strength comes from the fact that that most of the development is funded with CASHOLA . . . therefore, there’s less of the potential downsides of borrowed money fiascoes (Bankruptcies and forelosures).
More concrete . . . Less green stuff (trees and Grass).
TRAFFIC . . . LOTS of TRAFFIC!
With no foreseeable solid plan for alleviation (MSA Mass Transit) . . .
We have ALL of the professional Sports teams – Football, Hockey, Baseball, Soccer and AMAZING Festivals and MUSIC MUSIC MUSIC.
The icing on the cake? (Nashville (Davidson County) is in deep financial tapioca . . . The Mayor has gone so far as to say the city is “in receivership to the state of Tennessee” and is operating without an approved budget.
Here’s what you read all of the above to learn . . .
House values continue to rise, but the pace of appreciation has slowed (that’s a good thing).
This is a GREAT time to buy and sell houses! The inventory of available homes is “healthy” in most sub-markets of Middle Tennessee with 2-5 months of supply.
This market has struck a rhythm that is “friendlier” than any market in the last several years because there is less “competition” (Fewer multiple offer scenarios) for the Buyers.
The things that have always been, still are:
Buyers must position themselves at the beginning of the process by securing rock solid loan APPROVAL . . . AND having a strategy (if necessary) to sell their current home in order to be able to close on their next house.
Sellers must position themselves well by preparing the house impeccably for the market and being willing to price their house to be competitive in the local market.
It still holds true that Home Buyers and Sellers have more profitable and smooth transactions when they engage a REALTOR to represent them in the transaction.
There are MANY people/companies entering the market advertising “Convenience” . . . They offer to buy your house at a “fair price” with CASH, and you get to choose when you move. Rest assured that the folks who opt in to those “opportunities” pay dearly (10-15%) for the convenience.
ALWAYS begin your real estate purchasing or selling experience with hiring a LOCAL Real Estate Sales Professional to represent YOU every step of the way.
If you are are anywhere in Middle Tennessee, my hope is that you will connect with ME or one of the “Vital Few” REALTORS of Pareto Realty to schedule a confidential consultation.
Pssst . . . We’re growing, so you’re going to start seeing more of our signs in more yards.
Follow this link to learn more about Pareto Realty and how we are different than the others.