Market News

Nashville Real Estate Closings Up, Pendings Fall

June 10, 2010 by admin · View Comments  

If you were one of those drum beating, forever optimistic, ‘buy now or miss the deal of a lifetime’ type of real estate agents, this is what you might spin this month: Nashville home sales up an astounding 25.8 percent in May. You may also write: Year-to-date Nashville closings are up 20.4 percent through the same period last year. Don’t wait to buy, you’ll miss the best deals. Of course, you... [Read the entire article…]

Proving a Housing Price Increase in Nashville

May 20, 2010 by admin · View Comments  

A very astute investor once told me that if I attempted to micro analyze the real estate market based upon short-term data, I would most likely be missing the soul of that market. Yes, I had the ability to make profitable short-term decisions, but I would lack the true understanding of why my short-term decisions were valid. It is this soul of the market that allows one to make accurate predictions... [Read the entire article…]

April 2010 Nashville Real Estate Market Analysis

May 18, 2010 by admin · View Comments  

The Middle Tennessee MLS (Realtracs) has reported April 2010 housing statistics. The following graphs and analysis are based on the greater Nashville residential single family homes and condos market only. Note: on April 30, the federal housing tax credit for first-time home buyers culminated giving rise to purchases that may have occurred later in the housing cycle. Total Inventory (Okay, Increasing) Inventory... [Read the entire article…]

What Happens to the Nashville Market Post Flood?

May 4, 2010 by admin · View Comments  

If the flooding caused by Hurricane Katrina in New Orleans was any indication, Nashville real estate prices will rise in the coming months. I realize that this statement may appear counterintuitive in the wake of such devastation, but the underlying fundamentals of a capital market remain unaffected, the simple laws of supply and demand dictate a housing shortage on the horizon. According to the Brookings... [Read the entire article…]

Real Estate Tax Credit Causes Nashville Homes Sales to Soar

April 9, 2010 by admin · View Comments  

Most real estate professionals would agree that the extended first-time home buyer credit has led to an increased level of purchase activity in Nashville. However, most tend to also believe that this activity has led us to a point when you can call the Nashville real estate market ‘recovered’. I can see why you may feel that way considering the combined optimism of a better than last Spring selling... [Read the entire article…]

Don’t Believe the Nashville Real Estate Hype…Yet

March 9, 2010 by admin · View Comments  

I have read either this exact sentence or a very close derivation of it about a dozen times since the Greater Nashville Association of Realtors (GNAR) published the February 2010 home sales results: “Home sales are already at a frenzied level in the first month of the year so you better hurry! Inventories are at historic lows and interest rates are great.” I suppose I shouldn’t be surprised... [Read the entire article…]

Warren Buffett Predicts End of Housing Crisis

March 1, 2010 by admin · View Comments  

According to Bloomberg News, Billionaire Warren Buffett said the U.S. residential real estate slump will end by about 2011, predicting that’s how long it will take demand for homes to catch up with the supply. “Within a year or so, residential housing problems should largely be behind us,” Buffett wrote on February 27 in his annual letter to shareholders of Berkshire Hathaway Inc. “Prices will... [Read the entire article…]

John Rich Buys Seanachie Irish Pub in Nashville

February 17, 2010 by admin · View Comments  

Country music superstar John Rich and business partner Phil Martin, have purchased the Seanachie Irish Pub building in downtown Nashville. The building, located at 329 Broadway is pending renovations as the group is currently in the process of acquiring building permits, submitting plans and the like. While I have not been able to confirm the purchase price, I was told that the number was in the neighborhood... [Read the entire article…]

Convention Center Hotel Site Comes Back Home

February 5, 2010 by admin · View Comments  

According to the Nashville Business Journal, A Davidson County Circuit Court judge has ruled that the MDHA has the right to take a 5.7-acre parcel from Tower Investments for the Music City Center convention hall project. Clearly, this is a massive legal victory for the new convention center as the Tower Investments parcel of land represents the best location for the center’s hotel. As you may recall,... [Read the entire article…]

May Town Center Development Chatter Resumes

January 26, 2010 by admin · View Comments  

Today, Tennessean reporter Nate Rau, wrote an article explaining that Metro Council discussions of the decidedly utopian 500 acre West Nashville May Town Center development could be revived as early as March. Councilman Matthews, whose district includes the potential site, is considering putting the development proposal on a March public hearing agenda. The Councilman was quick to point out that the... [Read the entire article…]

9 Against, 29 in Favor of New Nashville Convention Center

January 19, 2010 by admin · View Comments  

The Metro Nashville City Council has voted 29 to 9 to move forward with funding the new $585 million downtown Nashville convention center also known as the Music City Center. The financing package approved by council tonight allows for a maximum of $650 million. That covers both the price of the project and financing costs such as the establishment of a $40 million debt service reserve fund. The... [Read the entire article…]

Nashville Plans Free Wireless Internet for City

January 9, 2010 by admin · View Comments  

Nashville Technology Council President Todd Fetherling has told the Nashville Post that the organization plans to implement a free wireless Internet network in downtown Nashville. The group plans on placing its first transmitter in the central business district and believes that a strong wireless signal should emanate within a 0.9 mile radius. The location of this first transmitter will be the Nashville... [Read the entire article…]