As we march into October the real estate market in our local area continues its strength, unabated. Homes continue to be a hot commodity in the Greater Nashville market, and surrounding areas. Buyer demand dramatically outpaced supply all summer with several new home builders reportedly breaking ground on 12 or more pre-sales per week since August.
What is driving this market?
More renters than ever before are taking advantage of this time to lock in low interest rates and purchase their own homes. People in condos realized the lifestyle was wonderful if you go out and do stuff, but when locked in 24/7 the space became far too small.
The number of buyers being transferred to our area fell dramatically in April & May, while we are now almost back to a normal level by the end of summer. We’re also seeing more buyers make a decision to buy their dream home now rather than wait.
Has COVID changed the Nashville Real Estate Market? Without a doubt. We believe COVID has made an impression on buyers that will last for years to coming as they make their home buying decisions.
Mike Hastings is the Broker owner of Network Properties, LLC with more than 20 years Property Management, Home Sales experience
Award winning RE/MA X and Keller Williams agent before forming his own company
Grew up in the Nashville area, married more than 30 years
If you’re looking for someone who knows this market, call Mike 615.992.8817