ResalesNashville-Area Towns Enjoy Strong Growth
Local Realtors in towns around Nashville, Tennessee report strong housing markets, as the spring turns into summer.
Franklin
"The strong housing market experienced in 2003 is continuing into 2004," says Realtor Barry Smitherman, "Low interest rates and creative financing packages have made it possible for more people than ever to take advantage of home ownership. The recent increases in interest rates are causing those fence-sitters to enter the game "before rates get any higher." As Nashville continues to be a hot spot for business and industry, the outlying areas will remain popular choices. Franklin and Williamson County offer the best of both worlds - proximity to a major metropolitan area while still retaining their rural charm. New construction - such as the 3000-residence Westhaven - is trying to keep up with the expected growth to come."
Goodlettsville
"Recent Real Estate sales activity in Goodlettsville have been on the increase due to low mortgage interest rates, and a strong local economy," says Realtor Chip Jervis. "Many high quality new home communities have created demand among relocation and move-up buyers.
He advises, "Resales are strong as well with these groups of buyers and first-time buyers. Most homes will sell within 90 days if priced and marketed properly. Home sales for February 2004 were up approximately 20 percent over February 2003. Forecasts indicate more of the same for the remainder of 2004. Prices for single family dwellings are appreciating in a healthy manner."
Gallatin
"As the county seat of Sumner County, Gallatin works hard to preserve the best of the past, blending history and tradition into present activities and new projects," says Realtor Steve Luther. "It looks like 2004 will be another strong year for housing. In Sumner County, listings are down slightly over last year, while closings are up. I still expect interest rates to rise later this year with more jobs being added to the economy. This should spur additional purchases. "Days on market" has been fairly stable at just under three months. New construction has remained at about 25-30 percent of the market. Prices are rising with new home sales leading the way."
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