Nashville and Franklin TN Real Estate News November 2009

By
Real Estate Agent with Benchmark Realty
Hi Friends,
Happy Thanksgiving!  I hope you and your family and friends have a wonderful Thanksgiving holiday, and for many of you, a good break from work!  I'll be in town, celebrating with my parents and brother and his family.  I'll be watching for your posts about Turkey and funny family jokes on Facebook.  If we aren't "Friends" on Facebook and you are already connected there, find me so we can connect.  To find it directly, you can go to this link, www.facebook.com/monica.neubauer .  I post lots of fun stuff and interesting Real Estate news when I have it.

I've been watching the local market news.  2009 has been a bit of a challenge for real estate in Middle TN.  However, October and November show some "up" numbers .  How many months constitute a trend?  We hope we are trending upwards.  This month ends the "old" deadline for the First Time Homebuyer Tax Credit, so we expect some of this volume that is higher than 2008 is a reflection of the Tax Credit and people taking advantage of the Credit.  And hopefully the increases will continue.  The Tax Credit has been extended and enlarged.

Click Here for information about the New Tax Credit.  And you can check out this link too. This is still an $8000 credit for First Time Homebuyers, and it also has a $6,500 Tax Credit for current homeowners who want to move and buy a different house.  You would have needed to live in your current house for at least 5 consecutive years out of the last 8 years to qualify.  There are also income restrictions, but they are fairly high for our market.

 

One of the questions that seem to come up fairly often is, "What is going to happen to Spring Hill when the plant closes this month? "  The obvious answer is that we will have to wait and see.  I have a number of friends and acquaintances who work at the GM plant or know people who do.  I have heard so many different responses to their own personal journeys that I have some thoughts about it.  First, not all the employees live in Spring Hill.  Many live in Franklin and Columbia and other areas.  So, even if everyone did move - the effect would be across several towns.  But I am not hearing about people moving right away.  A good number of the folks have decided to take retirement.  Some of them will stay here because they like it or have found other work.  Some of those retiring will move, but not necessarily right away - they may have flexibility in their plans.  840 workers will be offered jobs in Michigan and most, if not all, of those jobs will be taken, but I know of at least one family where the GM employee  will work in Michigan and they will still keep their house here, making a temporary move.  For some folks, Michigan is home and moving back might be what they want. Some will start new small businesses and some will find jobs in other industries here.  I am not hearing of a mass exodus of GM workers.  Not yet, anyway.  If someone knows otherwise, let me know.  I am interested to hear any updates.  We will know over the next few months as the workers transferring to Michigan will be leaving from February through April 2010. And, of course, the plant is still there - waiting for a new job to do and people to do that job.

I have attached links to the Williamson County Association of Realtors and the Greater Nashville Association of Realtors updates of recent closing numbers.  You can see that September was not too active, and October was active - better than 2008.  I have taken a look at the upcoming November numbers and they look like an improvement over 2008, at the least.  And hopefully we will see an upward trend.

If you have questions about your home or your situation, please call me.  Sometimes, getting answers to questions can help you see through the fog of housing options you might be considering.  I can help with local information about your subdivision.  If you are finding your payment is a little high, we can discuss options for you.  I am glad to help out with information whether you are selling or not.

October Williamson County News
http://www.williamsoncountyrealtors.org/News/Article/47.aspx

September Williamson County News
http://www.williamsoncountyrealtors.org/News/Article/46.aspx

Greater Nashville Numbers for 2009
http://gnar.org/09mlsmonthly.htm

Greater Nashville October Comparisons
http://gnar.org/mlsrelease.htm

You may have noticed a different logo on my newsletter.  I have made a change to Benchmark Realty in Cool Springs.  Like others in all businesses, I have reviewed my business and needed to make a change.  You can be assured that you will have the same great service as always!

I hope you have a great weekend!!  
Monica


Monica Neubauer, Broker

Benchmark Realty
7127 Crossroads Blvd, Suite 102
Brentwood, TN 37027
615-568-8384 Cell
615-371-1544 Office
www.RealEstateTennessee.com
www.FranklinTNBlog.com


Accredited Buyer Representative (ABR)
Senior Real Estate Specialist (SRES)
Certified Residential Specialist (CRS)
Green

   

Posted by
This posting and the contents written here are the intellectual property and opinions of Monica Neubauer. Monica is a Realtor with Benchmark Realty in Brentwood, TN. She provides real estate services to clients in the Nashville area, including Nashville, Franklin, Brentwood, Spring Hills, Thompsons Station,  and other areas in the Middle Tennessee Region. You can contact her by calling 615-568-8384 or visit www.FranklinTNBlog.com .

Comments (5)

Larry Brewer - Benchmark Realty llc
Benchmark Realty LLc - Nashville, TN

monica - It's good to see that you have made some time to blog again. I guess I'll see you tomorrow in class.

Nov 23, 2009 09:37 AM
TeamCHI - Complete Home Inspections, Inc.
Complete Home Inspections, Inc. - Brentwood, TN
Home Inspectons - Nashville, TN area - 615.661.029

Monica, I had to do a double take to make sure that it was you and not "memorex"! Welcome back to the blogosphere...

Helping you live your American dream...

Nov 23, 2009 08:07 PM
Lee Barroll
SWBC Mortgage - Brentwood, TN

Thanks for the info on Spring Hill and the plant closing.  I have wondering about that very thing. 

Nov 24, 2009 03:07 AM
Tammie White, Broker
Franklin Homes Realty LLC - Franklin, TN
Franklin TN Homes for Sale

Monica, sorry to hear that you left KW.  I hope to see you around.

Nov 29, 2009 03:36 PM
Monica Neubauer
Benchmark Realty - Franklin, TN
Franklin, TN - Realtor, Trainer

Thanks for the encouragement! 

Dec 03, 2009 03:33 AM