Nashville TN Home Sales Report 2008 - Trends in the Market

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Real Estate Agent with Pilkerton Realtors

Nashville TN Home Sales Report 2008

 

Home sales in Nashville were down 25% in 2008 vs 2007. This is not surprising since the Stock Market took a small dive late last summer and Consumer Confidence has plummeted in the past few months. This however does not cover the entire story.

If sales are down 25%, then that means that 75% of the home sold. Not everyone ends up happy with this scenario, but in effect, 75% of the sellers were able to accomplish their goal of moving from there home, for whatever reason. AND in this case, over 4300 people were able to realize their goal of purchasing their next or new home.

In January 2009 there were 2540 Active Listings or a 7 month supply. This is down from previous highs of 9 to 12 months of supply. It is still a buyers market, but inventory is beginning to move.

Sales have actually increased since the election in November, and the word is that they will continue to get back on track as the public watches, hopefully, our new President.

 

 

Prices decreased slightly. But considering what you are reading on a daily basis, this is nominal. From neighborhood to neighborhood, you will see some variation.

 

For more specific Neighborhood information, see the following market reports:

 

Villages of Brentwood Sales of Homes Market trends for 2008

Bradford Hills Sales of Homes, Market Trends for 2008

Holt Woods Sales of Homes, Market Trends for 2008

Franklin TN Real Estate Market Report

Brentwood TN Real Estate Market Report

Nashville TN Real Estate Market Report

 Nashville TN Homes are my specialty. If you live here now or are moving here from another area, please feel free to call me for any local information. You can visit my website www.ConnieHarvey.com , email me at harveyC@realtracs.com or I can be reached at 615-661-7800 x 1300.

 

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Connie Harveyis a local agent with Pilkerton Realtors, serving home buyers and sellers in Nashville, TN, Brentwood TN, and Franklin TN. Let her help you realize your Real Estate goals. She can be reached at 615-371-2474.


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Rainer
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Brian Belcher
RE/MAX Executive - Charlotte, NC
Charlotte Realtor

Hey, great post. Thanks for the information about your area.

Jan 28, 2009 03:43 AM #1
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Lee & Pamela St. Peter
Berkshire Hathaway HomeServices YSU Realty: (919) 645-2522 - Raleigh, NC
Making Connections to Success in Real Estate

I love your attitude Connie - that's how I wish the rest of the world would see things! 

If sales are down 25%, then that means that 75% of the home sold!!!

AMEN. 

Stay on course and keep that beautiful smile smiling! 

Your Raleigh Realtors!

Jan 28, 2009 03:56 AM #2
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Connie Harvey
Pilkerton Realtors - Brentwood, TN
Realtor - Nashville TN Real Estate

Brian - I'm still learning how to put good information together on a city that's spreadout!

Pam - I can't work any other way! I'm planning on having a wonderful 2009!

Jan 28, 2009 04:44 AM #3
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Connie Harvey

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