Nashville real estate isn’t as bad as the rest of the country….right?

No its not!

All this doom and gloom about the credit crunch and bursting of the real estate bubble would have you thinking that home prices are crashing, home inventories are rising, buyers aren't to be found, banks don't want to lend and we maybe in a recession. So, bend over hold on to your ankles because its going to be a bumpy ride!

Ok...so I admit, most of the apocalyptic writings of the over zealous columnist and journalist are more accurate on this subject than not, it doesn't necessarily mean that real estate here in the Nashville area is as described on your national news network.

Here in Nashville and the surrounding areas, we have seen home prices fair steadily. In fact, depending on the condition and location of the home, it isn't uncommon to even have multiple offers and end up selling a home for more than listed. So what makes Nashville real estate so resilient?

1. Government Regulations: Zoning restrictions, ordinances, taxes and other government regulations have a strong impact on the resiliency of a housing market to weather a housing crisis. Basically, the more open the local authorities are to development, the more likely development will be created and, as you know development creates demand!
2. Employment Opportunities: If the area in which you live is creating jobs, then its creating demand for real estate. When you area is creating well paying jobs then it is likely those workers will buy homes. Granted, I am sure some rent and to some degree that is based on the quality of pay however, it doesn't negate the fact that those jobs will create supervisors, managers, directors, and other high paying salaried jobs for people who will be Ready, Willing and Able buyers.
3. Area Statistics: Good stats like low crime, good schools, multiple churches, plenty of recreation and such are great ways of keeping a community strong through a slumping housing market. Here in the Nashville area this works greatly to our advantage.

So, my advice to you on how to create a robust housing market in a nation wide slow down is to create jobs! This single action is most likely the number 1 reason home prices rise, in my opinion. Simply put, job creation creates a demand on housing supplies and therefore, prices rise or supply increases due to new construction, or in rare situations both end up happening at the same time.

As a community my advice to you is to take care of your neighborhood. Keep it clean and well maintained. Watch out for crime and mischief, a reputation for being a "bad" are isn't what any of us can afford right now.

Last but not least, elect officials who are pro-development. Local, county and state law makers who create jobs, lower taxes and focus on raising community standards like education, health care could be worth their weight in gold when it comes to keeping a strong housing market while the rest of the country is struggling