NASHVILLE, Tenn. (WTVF) — Owners of an Antioch apartment complex are cashing in on skyrocketing property values in this city on the rise.
The Cambridge at Hickory Hollow has sold for more than $53 million, nearly double it's value when it was last sold five years ago.
It's a price tag that doesn't surprise real estate agents who say growth and increase in property values is spurred specifically by businesses in the area creating new jobs.
"When you look at the permits and the commercial projects pulled for that zip code specifically in Antioch, I can suggest there will be a very large increase in housing prices, land prices, and commercial retail spaces, absolutely," Real Estate Agent Stephen Dellahoussaye said.
In fact, real estate agents say the Antioch area is specifically becoming attractive to investors who are buying up dozens of homes, then renting them out long term.