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Spring Hill Homes - Market Update April 2023

By
Real Estate Agent with Benchmark Realty LLc License# 00285925

Spring Hill homes for sale - April 2023

Home sales in spring hill are considerably slower than they were at this period last year, as you would expect with the Federal Reserve rate hikes pushing mortgage rates over 6% for the first time since 2009. Prices on resale homes have cooled a little bit, but we still have a shortage or homes because nobody wants to give up their existing mortgage. New construction home prices are still very high and they aren't building very many if any spec homes. I have buyers looking to purchase today even with the high interest rates, but all the homes that meet their criteria are purchased immediately. Call me if you need help buying or selling in Spring Hill Tn

  • 21 homes sold in Spring Hill during the month of March 2023 compared to 39 for the same period of 2022
  • The average sales price of homes sold during March was $686,371 compared to $631,490 for the same period last year, an increase of 8.6%.
  • The median sales price per square ft of sold homes has come down slightly at $222 compared to $239 last year a reduction of 7.6%.
  • 74 Spring Hill homes are listed as available for purchase in the Williamson county portion of Spring Hill.
  • 69 homes are currently under contract pending sale, most are new homes waiting for completion
  • The median days on market for sold homes is up to 12 days

Inventory levels are improving due to the higher interest rates pricing some buyers out of the market. This may the be opportunity that buyers have been waiting for. Buy the home you want without getting in a bidding war and refinance the home when the rates come down. Homes in Spring Hill TN are now averaging $222 per square foot compared to $307 in Franklin.  a difference of 38% so the homes are still a significant bargain for Williamson county. Search for Spring Hill TN homes for sale here.

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For the most-up-to-date information on Spring Hill TN homes, then we urge you to contact us. We can assist you with all aspects of buying or selling real property in this and other neighborhoods in the Nashville Metro area. Also ask to be placed on an instant notification system when any new Spring Hill listings come on the market or price reductions in Spring Hill TN homes are posted. information on this page is based on information on Spring Hill real estate in Williamson county per the Nashville Multiple Listing Services, Inc. and is deemed reliable but, not guaranteed.

This posting and the contents written here are the intellectual property and opinions of Larry Brewer of Benchmark Realty. Providing real estate services to clients in Nashville, Brentwood, Franklin, Spring Hill, Green Hills, and the middle Tennessee area

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Comments (1)

Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

Thanks for sharing your market report with us here in the Rain. It's always interesting to see how other areas of the country are doing.

 

Apr 12, 2023 12:28 PM