In the nation, only five markets showed projected appreciation of more than 4 percent - two of them are in Tennessee.
Albuquerque was first, followed by Seattle; Nashville; Lancaster, Pa.; and Knoxville.
Most of the nation will see at least a 5 percent drop in home values.
Experts said many homeowners in Tennessee don't have sub-prime loans. Homeowners with those adjustable rate mortgages have gotten in financial trouble. That is one reason the housing market is better here.
A new survey claims Clarksville, Tennessee residents will see big gains in 2008; in fact, the biggest in the country. If someone in Clarksville has a home worth $200,000, it should appreciate by 6.4 percent in 2008 or $12,800, according to the survey.
Quality of life is high. Nashville was named one of the 15 best U.S. cities for work and family by Fortune Magazine. The city ranks fifth in the nation for corporate relocations, by Expansion Management Magazine. And, Forbes Magazine named Nashville as one of the 25 cities that is likely to have the country's highest job growth over the next five years.
Nashville is a cost-of-living bargain compared to comparable cities across the nation. Overall cost of living is only 93.7% of the national average. Food, utilities and housing are typically below the national average.
"As the year winds down and we get ready to enter 2008, market conditions are very favorable to buy a home in Greater Nashville. We experienced an increase in median prices, which means if you are thinking of buy, don't wait. The house you want today could cost more tomorrow, " said Richard Courtney, 2007 President of the Greater Nashville Association of Realtors.
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When searching for your dream home, it’s important to be well informed of the Real Estate market. To help you with this process, consider the following factors: What features do you require in a home to satisfy your lifestyle now? Five years from now? Will your needs change? What’s your budget? These are decisions only you can make, but I will do everything possible to match you with your dream home.
Thanks for posting. I hope our Nashville buyers get the message. I am feeling more and more like a doctor must when every day I get pulled aside by hesitant home shoppers and asked the 'prognosis' of Nashville's market. The buyer trepidation doesn't really shock me because the media has been so slow to cover local vs national news...