Though the Nashville area isn't feeling quite the squeeze that some areas are having, we definately have less closings than we had last year at this time. As a result, there are some real deals out there! There are short sales, not a ton, but some. And Nashville, especially Williamson County, which includes Franklin, Brentwood and Spring Hill, is not a town known for short sales.
In my recent searches for homes, I am seeing houses at GREAT prices! Motivated sellers who need to sell and are willing to take a cut. I just closed one last week. What a deal that buyer got! But my seller was glad to have it sold.
Now, will your favorite house be that good of a deal? Can't guarantee that. But I have even seen amazing houses below what I thought they should be selling for. I had some clients come into Franklin in the summer of 2007 and we looked at houses from $500K-$800K. They haven't bought yet. They can hardly wait to get here now because as they watch the listings, they are seeing so many amazing houses in that price range, many more and at better prices than they saw last year at this time.
It is a great time to Buy! And selling may not be bad if you can afford to trade your dollars. Give a few on your house you are selling to get a great deal if you are moving up in price.