Franklin TN Real Estate - Chestnut Bend  2009 Market Report

Chestnut Bend

Chestnut Bend prices have finally stabilized and sales have increase a full 50 % over 2008. Homeowners saw their home prices decrease up to 22% when prices fell from their high in 2007.

Year Number of Homes Sold Average List Price Average Sales Price Difference
2008 8 $470,412 $446,875 95%
2009 12 $463,466 $440,645 95%
Difference 50% -2% -1% 0%

In 2006 Nissan moved their corporate headquarters to Franklin in Middle Tennessee. Several neighborhoods quickly became favorite, thus driving up the prices of homes to  numbers we had not seen.

Chestnut Bend was one of the neighborhoods that became very popular. Backing up to Franklin High School with its International Baccalaureate program and overall High Scholastic scores made it a great fit for those wanting newer homes in Franklin with many amenities.

 

The average sales price in 2005 was $427,860, in 2006 $519,481 and in 2007 $544,694. Those who bought in 2006 and 2007 and have since been relocated saw that their equity had disappeared in a similar fashion to cities they read about in the newspaper. In 2008 the average sales price decreased 18%. One of the largest drops in Middle Tennessee.

Meanwhile, the Franklin TN Real Estate market saw the sales rise from 2005 through 2007 and also had an adjustment, just not as steep:

Year # Homes Sold Average Sales Price
2005 4952 $359,254
2006 5027 $422,911
2007 4033 $452,857
2008 2756 $430,685
2009 2396 $408,483

There are currently only 2 homes on the market in Chestnut Bend. This would normally be considered Low Inventory. As we see the local market continue to pick up, these homes have positioned themselves well. There are currently 907 homes on the market in Franklin TN with an median asking price of $449,900.

Search for Homes in Franklin TN

Search for Homes in Brentwood TN

Connie Harveyis a local agent with Prudential Woodmont Realty, serving home buyers and sellers in Nashville, TN, Brentwood TN, and Franklin TN. Let her help you realize your Real Estate goals.

Connie can be reached at 615-661-7800 x 1300 or at HarveyC@realtracs.

Follow her Blog: Nashville Tennessee Living

Subscribe 

Connie Harveyis a local agent with Pilkerton Realtors, serving home buyers and sellers in Nashville, TN, Brentwood TN, and Franklin TN. Let her help you realize your Real Estate goals. She can be reached at 615-371-2474.


Search for Homes in Nashville TN

Search for Homes in Brentwood TN


 
This post has been included in Tennessee Real Estate News Williamson County, TN Real Estate News Franklin, TN Real Estate News Chestnut Bend (Franklin, TN) Real Estate News
Post is included in group: City & State: Listings and Market Reports
Post is included in group: Local Expert
Post is included in group: Market Reports
Post is included in group: Market Updates
Post is included in group: Posts to Localism

3 Comments on Franklin TN Real Estate - Chestnut Bend 2009 Market Report

JAN
30
2010

Thanks for article. I learn a lot of good information from Active Rain blogs. Best Regards,
1:14pm • #1
680,654 Points 51 Featured Posts Localism Sponsor Outside Blog Called Shot Master

Celia - Thank you. There is so much great information here at Active Rain.
1:16pm • #2
639,167 Points 39 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Wow Connie, this is great news!  Hopefully more and more areas will be able to report the increase too.  Nice report!
1:31pm • #3


What does the graphic say?
Leave a response…

(optional)
Spam Prevention:
 
Connie_coffee_shot Ambassador_large

Connie Harvey Realtor Nashville TN Real Estate

Brentwood, TN

More about me…

Pilkerton Realtors

Address: 2 Cadillac Drive, Brentwood, TN, 37027

Office Phone: (615) 371-2474

Email Me



Listings

Links

Archives

RSS 2.0 Feed for this blog