Home Sales for Nashville, TN – December 2008

There were 1,422 closings during the month of December, which represents a 32.5% decrease form the 2,109 closings in the same period last year.

Fourth quarter closings were 4,413, down 35.6% compared to 6,856 closing in the fourth quarter of 2007.

And, the year ended with 24,246 total closings, down 29% from the 34,221 closing during all of 2007.

The median price for a Nashville home in December was $163,750, and for a condominium it was $134,062. That compares with last year’s median single-family and Nashville condo prices of $187,900 and $169,750 respectively.

Inventory is currently at 21,274, compared with 20,673 in December of last year.