Nashville Tennessee proves that all real estate is local. While the national news is still painting a dim picture, here in Middle Tennessee (Nashville) things aren't looking so bad.
One only has to pick up the local paper to prove this point. While headlines (right) are all from today's newspaper (The Tennessean). You can see the first is great news, for Nashville area. The second is interest rates are at a low not seen since 1951. But the third says overall the national housing market is not so optimistic.
These headlines show why it is important that you talk to your agent about local trends before you put your house on the market and before you pick your next neighborhood. Because even among localities, there are trends. Some neighborhoods fare better than others. One side of a city or town may be prospering while the other side struggles.
Your agent will know this, ask her/him. Don't settle for the answer that gets you to sign quickly. If your dollar buys more house on the north side of town than the south side, there is a good reason. Not to say you shouldn't buy where your money goes further, but you may better understand why when it comes time to sell.
Remember when your agent says the real estate market is local, that is not just a catch phrase. Local trends are important when it comes to buying and selling. You should have both in mind when you select your house. Your agent cannot guarantee the future value of your home, but can show you the recent history and offer an educated opinion on which areas are trending favorably.
We are fortunate here in the Nashville and Middle Tennessee Area that our market is doing well. When an area does well in tough times it bodes well for home owners and buyers. If the head lines indicate anything it is that the market may have bottomed and is on the uptick in the Nashville Area.
If you are looking or know of someone who is looking to move, this is a great place to set your sites. There are many great Realtors® in the area, find one that you are comfortable with and begin your search today. Buy when the trends are favorable. Now may be that time.