Nashville Housing Market Continues To Be Red Hot

Posted at 8:12 PM, Sep 09, 2015

NASHVILLE, Tenn. – New numbers just released prove housing markets across Middle Tennessee continue to be red hot.

The Greater Nashville Association of Realtors, Inc. found there were 3,770 closings reported during the month of August, and the figure represents a 16.7 percent increase over the same period last year. Year to date, closings for the greater Nashville area increased 13.7 percent.

“Every month the numbers come out and it keeps getting better,” said Cindy Stanton, President of the Greater Nashville Association of Realtors. “For the fourth consecutive month and the seventh time this year the region has seen a double digit increase in area home sales.”

Stanton said while Nashville has been ranked as one of the top 20 hottest markets in the country, numbers were up in every Middle Tennessee county.

“We feel right back to where we were before foreclosures and the recession and downturn we took,” said Stanton.

The booming market meant area realtors have been staying busy.

“In the last 38 days, I’ve closed on four houses, and all have gone above list price” said Zelda Sheldon, a realtor with Village Real Estate. “It’s just a crazy busy market for investors, first time home buyers, and people just moving in.”

Sheldon said her listing at 1312 Shelton Avenue in East Nashville was not on the market yet, but had a “coming soon” sign out front. She expected it to sell fast.

“This is a super hot area,” said Sheldon. “Homes are going on the first or second day on the market, and getting multiple offers above the list price.”

Stanton said there was no reason the trend won’t continue. She said as long as interest rates stay low, she expected homes to keep selling fast throughout the Fall season.