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The Nashville residential market has seen the number of foreclosures more than double in the past year.  From the third quarter of 2006 to the third quarter of 2007, there were 2,118 foreclosures in the eight-county metropolitan Nashville area.  This is up a little more than double from the 1,045 foreclosures in the third quarter of 2006.  These numbes were also up 12 percent from the second quarter of 2007.  Tennessee ranks 12th in the nation for foreclosures.  Williamson County has the lowest foreclosure rate with one filing for every 530 families while Rutherford County (with the largest concentration in Lavergne, TN) has the highest rate of foreclosure with one filing for every 189 families.  The Center for Responsible Lending estimates that nationally 19% of the loans made in 2005 and 2006 will lead to foreclosure.

                                                                                                                                                         

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1 Comments on Foreclosures Double in Nashville, TN

JAN
30
2008
Thas is certainly not great news, but I highly doubt that 19% of all loans made in 2005 and 2006 will end in foreclosure.  Maybe 19% of the subprime loans made in those years.  I'm afraid that 2008 may be more of the same as far as foreclosures go, but by 2009 we should start to see less of this trend.  Good info.
1:43pm • #1

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Nashville Short Sale Specialist - Rhonda Burgess

Smyrna, TN

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Southern Living Realty Partners

Address: 1321 Murfreesboro Pike, Suite 600, Nashville, TN, 37217

Office Phone: (615) 751-6234

Cell Phone: (615) 554-0832

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