The Nashville Real Estate Market-Is it slow really or just media panicked?

It is interesting, I just finished with 3 open houses today.  I only manned one of them of course; however, Sundays for me have become OPEN HOUSE days.  Since March I have hosted an open house every Sunday excluding 2.  This summer I had many a conversation with inspectors and closing attorneys because their schedule as well as mine was overbooked; Nevertheless, the media continued to panick consumers.  Everywhere I turned I continued to hear gloom and doom.  A good example of this is how our newspaper reported the housing statistics for October.  As realtors, we get the report first and read over it.  The statistics show that housing sales were down 25% for October for this year compared to last year,  and that home closings are down for the year 12% from last year.  What they forget to emphasize is the fact that last year was a record breaking year for Nashville.  So we are down 12% from last year. I am not sure we had any way to go but down; however, what I do continue to see every Sunday are buyers ready to buy.  Some  of them are waiting afraid of what the market will do; however, they are ready buyers, qualified, and don't have homes to sell.  Some of the buyers do have homes to sell; nevertheless, they are scared.  Scared because our media has put them in a frenzy.  Are sales slower than normal, yes.  Is it because of our economy or because of our Media?  I vote  the media.  Nashville is still one of the top markets in the country.  Predictions still say that by the year 2025 a large percentage of the US population will be moving to the Southeast.  Is Nashville's economy strong? Definitely.  Is Nashville a very desirable place to live?  Most definitely.  Our cost of living index is still lower than most of the country and there are many communities surrounding the Nashville area that are not only affordable, but also appealing because of the sense of neighbors that smile and speak to you and are willing to help when you need it.  Am I worried about Nashville?  No, this year has been another great year for me.  2008 is looking promising as well.  Each Sunday I meet and greet buyers moving here from other parts of the country.  We should count our blessings that we live in such a great community as this one.