In a recent article, the Tennessean reported the following market absorption rates for homes in Williamson County:
“In Williamson County, the $1 million-and-up price range had enough inventory to last 30.9 months, compared with 18.4 months of inventory in the $800,000 to $999,999 range and 11.7 months of inventory in the $600,000 to $799,999 range.”
The good news is that the inventory of the lessor prices homes has actually been dropping since April 2008. Levels are down nearly 15% of their highs and appear to be slowly, steadily dropping. In our opinion, this leads to a healthy Williamson County real estate market by late 2009 or early 2010.
The average price of a house last month in Williamson County was $440,270, compared to $451,472 in 2007, $455,567 in 2006 and $363,267 in 2005.