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:
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.