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Nashville Real Estate - No Bubble Bursting Here
Nashville, TN is home to many things including music, sports, museums and fine dining. It is also home to a growing number of homeowners. According to the Greater Nashville Association of Realtors, Nashville (unlike many other cities) is not experiencing a housing bubble. September 2006 closings were two closings short from the previous record setting September of 2005. The average number of days on market, the amount of time a home takes to sell, was roughly the same as last year's number at 57. This is a good sign since this year's inventory is slightly up from the previous year indicating a lean towards a buyers market. Combined with low interest rates, it is definitely a great time to invest in this area. A good quality of life at an affordable price is why so many people are now calling Nashville home. Many corporations like Nissan North America are deciding to relocate their corporate offices to the Nashville area because of the moderate cost of living and convenience. Not to mention that Nashville is considered one of the friendliest cities in the U.S. Nissan is building their corporate complex in Franklin, TN just south of Nashville. Currently they are using the Bellsouth, or bat building as the locals refer to it, as their temporary office. Many employees have already relocated to the area and are very impressed with the scenic landscape and multitude of activities. However the biggest surprise is how much home in terms of price per square foot that they are able to afford compared to where they use to live. A Los Angeles home is over double the amount per square foot than the same home in Nashville. Many people are paying cash for their Nashville home from all of the sale equity in their current home. Getting in and out of Nashville is a breeze with a superb interstate system. Although a few traffic jams occur during the morning and afternoon rush hours, it is far less than most major cities. The International Airport could not be any easier to navigate around and never seems to have long lines. The airport's location is perfect and can be easily accessed from any location around the city. Aside from great real estate prices and ease of travel, Nashville boasts a thriving downtown where a person can catch a Tennessee Titans football game, Predators hockey game, go see any style of music at venues like the Ryman Auditorium or simply sightsee around a truly modernized southern city. The city planning department and real estate developers are now looking towards the future of downtown by utilizing one of its best features, the Cumberland River. Nashvillians have enjoyed the river for years as a stage for various music concerts and fairs. Now there has been talk of redesigning the banks of the river to incorporate it into the downtown spotlight. Everyone feels that this is a must to catapult Nashville into having a truly unique downtown. A small town feel still exists in this area of over 1 million people. Over the past few years downtown condos have been the choice for many people seeking an urban living experience. Condo sales have been steadily growing with no end in sight. With the median home price of a single family residence in September averaging $178,900 and a condo at $153,841 Nashville is a bargain compared to other cities of similar proportion. The every changing skyline is proof that people are ready to work and play downtown. Investors are also taking notice of this area and are fighting for prime real estate for future expansion. An area called SoBro or South of Broadway is considered to be the next hotspot for real estate development. With easy access to all of Nashville's venues it is no wonder why investors are extremely interested in this section of town. Wonderful people, a great community feel and an overall sense of home combine to give the Nashville Tennessee real estate market strength and it's apparently here to stay. I'm surprised a song has not been written about it already!
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Article Tags: Real Estate, Relocation, Nashville Article Source: http://www.articlesbase.com/non-fiction-articles/nashville-real-estate--no-bubble-bursting-here-67892.html About the Author:
Matthew Kekelis is an affiliate broker with Coldwell Banker Andrews in Nashville, TN. You can find out more about Nashville real estate online at http://www.nashvillesagent.com
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