Nashville Tennessee Living

Franklin TN Real Estate - Founders Pointe 2009 Market Report

Founders Pointe is one of the few subdivisions that continues to not follow the trends here in Middle Tennessee. Last year we posted that their 2008 sales were strong and that EVERY home that was listed in 2008 SOLD. There were no expired or withdrawn listings. That's amazing for a neighborhood that size.

Here we've charted 2007, 2008 and 2009 so you can see how prices and sales have changed over the last couple of years.

Prices were up in 2008, where they were already declining in most areas, and down in 2009 but not an earth shattering amount. The number of sales going down is a truer reflection of the general market but we're expecting that to go back up in 2010.

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Connie Harveyis a Full Time agent with Prudential Woodmont Realty, serving home buyers and sellers in Nashville, TN, Brentwood TN, and Franklin TN. Let her help you realize your Real Estate goals.

Connie can be reached at 615-661-7800 x 1300 or at HarveyC@realtracs.

Follow her Blog: Nashville Tennessee Living

Franklin TN Real Estate - River Landing 2009 Market Report

River Landing continues to ride a roller coaster with their prices going up and down each year in an attempt to get themselves stabilized. It doesn't help that one year the homes in the front of the subdivision sell and the next year those, larger and more expensive, in the back sell.

River Landing also suffered some of what I call the Nissan effect. That's where the Nissan employees moved here from Southern California in 2006. Many of them sold their million dollar bungalows and were able to pay cash for their sprawling newer homes here. It drove up the prices in some neighborhoods and we're still trying to get them back to realistic pricing.

The number of sales decrease is consistent with this price range throughout Williamson County. Middle Tennessee home sales in general are down around 10% with the lower entry level homes down only 2% for the year and the larger homes down much more.

Franklin TN Real Estate prices and sales are down 13% and 4% respectively. More for the number of homes sold but less for the prices as compared with the 13 county Middle Tennessee average.

As the First time home buyers continue to gobble up the smaller homes, many of those sellers will be moving up as their finances allow. This is a trickle up industry.

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Connie Harveyis a local agent with Prudential Woodmont Realty, serving home buyers and sellers in Nashville, TN, Brentwood TN, and Franklin TN. Let her help you realize your Real Estate goals.

Connie can be reached at 615-661-7800 x 1300 or at HarveyC@realtracs.

Follow her Blog: Nashville Tennessee Living

Franklin TN Real Estate - Chestnut Bend  2009 Market Report

Chestnut Bend prices have finally stabilized and sales have increase a full 50 % over 2008. Homeowners saw their home prices decrease up to 22% when prices fell from their high in 2007.

In 2006 Nissan moved their corporate headquarters to Franklin in Middle Tennessee. Several neighborhoods quickly became favorite, thus driving up the prices of homes to  numbers we had not seen.

Chestnut Bend was one of the neighborhoods that became very popular. Backing up to Franklin High School with its International Baccalaureate program and overall High Scholastic scores made it a great fit for those wanting newer homes in Franklin with many amenities.

The average sales price in 2005 was $427,860, in 2006 $519,481 and in 2007 $544,694. Those who bought in 2006 and 2007 and have since been relocated saw that their equity had disappeared in a similar fashion to cities they read about in the newspaper. In 2008 the average sales price decreased 18%. One of the largest drops in Middle Tennessee.

Meanwhile, the Franklin TN Real Estate market saw the sales rise from 2005 through 2007 and also had an adjustment, just not as steep:

There are currently only 2 homes on the market in Chestnut Bend. This would normally be considered Low Inventory. As we see the local market continue to pick up, these homes have positioned themselves well. There are currently 907 homes on the market in Franklin TN with an median asking price of $449,900.

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Connie Harveyis a local agent with Prudential Woodmont Realty, serving home buyers and sellers in Nashville, TN, Brentwood TN, and Franklin TN. Let her help you realize your Real Estate goals.

Connie can be reached at 615-661-7800 x 1300 or at HarveyC@realtracs.

Follow her Blog: Nashville Tennessee Living

Franklin TN Real Estate - River Landing Fall 2009 Market Report

At first glance, it appears that River Landing sales and prices are spiraling to the abyss. Looking back as far as 2007 and then seeing each individual sale, the numbers look much better than the following will report.

The number of sales in River Landing have been as follows: 12 in 2007, 9 in 2008 and so far 2 in 2009. There is one pending but these are actual closings from January through September. What is selling in 2009 are the more moderate priced homes. Those homes priced in the upper 600's and above are not getting the activity that they have seen in the past.

There are currently 5 homes on the market. The only one priced under $500,000 has a financing contingency. 2 of the homes are priced over $700k and one of them has been on the market for 199 days. Pricing continues to be a key issuse.

Franklin TN Real Estate in general is just ahead, at down 25% of the Nashville sales, which are down 30%. The overall sales prices in Franklin are down just 4% over 2008 and Days on the market are up 25%.

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This report is offered by Connie Harvey, Realtor with Prudential Woodmont Realty Group in Brentwood TN. Connie serves Buyers and Sellers of homes in Franklin TN, Nashville TN and Brentwood Tennessee. She can be reached at 615-661-7800 x 1300 or via email at HarveyC@Realtracs.com.

Follow her Blog Nashville Tennessee Living

Franklin TN Real Estate - Founders Pointe Fall 2009 Market Report

Sales in Founders Pointe are down dramatically over last year. In 2008 19 homes sold in the first 9 months. In 2009 just 10. The good news in this is that prices have held well and in 2008 there were NO expired or withdrawn properties. That means that everyone who put there house on the market sold it. Could it be that with the current economy that the homeowners in Founders Pointe are just more content to stay put?

Founders Pointe has always been a popular neighborhood. Parents like the schools it's zone for and there is the incredible Franklin Sports park just across the street. With sidewalks throughout, small playgrounds scattered in the neighborhood and a beautiful pool, what more can you ask for?

The Market for Franklin TN Real Estate in general is just not as bad as far as the number of sales is concerned. It's down 25%, where the Nashville sales ch are down 30%. The overall sales prices in Franklin are down just 4% over 2008 and Days on the market are up 25%.

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This report is offered by Connie Harvey, Realtor with Prudential Woodmont Realty Group in Brentwood TN. Connie serves Buyers and Sellers of homes in Franklin TN, Nashville TN and Brentwood Tennessee. She can be reached at 615-661-7800 x 1300 or via email at HarveyC@Realtracs.com.

Follow her Blog Nashville Tennessee Living

Franklin TN Real Estate - Chestnut Bend Fall 2009 Market Report

For the past couple of years, sales and sales prices have been down in Chestnut Bend. 2009 looks to be the year that sales are really turning around in this beautiful, convenient Franklin neighborhood. Sales are up 36% compared to this time last year and already 28% over the total sales of 2008. Though prices are still down a little bit, Chestnut Bend appears to be leading the area in recovery!

Notice that Days on the Market has declined 28%! Homeowners are seeing their homes sell quicker than any time in the past two years. The popularity and location of this neighborhood made it a shoe in for an early come back in this down market.

Franklin TN Real Estate in general is just ahead at down 25% of the Nashville sales, which are down 30%. The overall sales prices in Franklin are down just 4% over 2008 and Days on the market are up 25%.

This report is offered by Connie Harvey, Realtor with Prudential Woodmont Realty Group in Brentwood TN. Connie serves Buyers and Sellers of homes in Franklin TN, Nashville TN and Brentwood Tennessee. She can be reached at 615-661-7800 x 1300 or via email at HarveyC@Realtracs.com.

Follow her Blog Nashville Tennessee Living

Franklin TN Real Estate - Chestnut Bend Spring 2009 Market Report

Chestnut Bend has had the most unusual Sales History for the past 18 months. In the 2008 Market Report for the neighborhood, we shared that 8 homes had sold for the year. ALL of them closed the second half. Todays report is for the 1st half of 2009. Comparing it to 2008 is impossible when there were NO CLOSINGS for the first half of last year.

The prices are down about 10% which is not that terrible considering the number of sales that have occurred. This is the type of neighborhood that rebounds quickly.

Chestnut Bend has always been a favorite neighborhood. It's walking distance to Franklin High School and to Historic downtown Franklin.

Franklin TN Real Estate - 2009 Spring Market Report

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Contact Connie Harvey for more information about Chestnut Bend, Franklin TN Real Estate or any general Real Estate information in Middle Tennessee. HarveyC@realtracs.com or 615-661-7800 x 1300

Franklin TN Real Estate - 2009 Spring Market Report

The Franklin TN Real Estate market has not been hit as hard as other parts of middle Tennessee or the nation in general. Sales are down 33% but prices have decreased only an average of 2.5%.

In 2008: 656 Single Family homes Sold between Jan 1 and June 30

In 2009: 479 sold in the same time period.

Average Asking Price:

$452,005 in 2008

$445,982 in 2009

Average Sales Price:

$441,358 in 2008

$425,342 in 2009

Average Days on the Market

74 in 2008

95 in 2009

Activity in general has really picked up in the past few months. The $8000 First time Homebuyer Tax Credit has helped the lower end market. This, in turn, is allowing those sellers to move up into the next price range. Real Estate is a trickle up business.

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Contact Connie Harvey for more information about Chestnut Bend, Franklin TN Real Estate or any general Real Estate information in Middle Tennessee. HarveyC@realtracs.com or 615-661-7800 x 1300

River Landing Franklin TN Real Estate - Spring 2009 Market Report

In River Landing, like many of the upscale neighborhoods in Franklin TN, home sales are down. In 2008 11 homes sold in the first half of the year. Below, you will see that there has been One closing and there is One pending for the same time period.

The Closing that has occured was one of the smaller homes in the neighborhood. The sales price was down 12% from the average of 2008. As of today, we do not know what the sales price of the pending sale is, but the asking price is 30% below the same average.

There are 7 homes on the market with an average asking price of $146/square foot. I don't think the Sellers or their Realtors have looked at the comparables lately. It doesn't matter if the market is up or down some things in Real Estate don't change. It takes 5 things to sell a home: Location, Price, terms, Condition and Marketing.  If you have location, price and condition you can get by without the others. But you can NEVER have one of these without the other two.

Franklin TN Real Estate - Market Report for River Landing Subdivision 2008

Franklin TN Real Estate Spring 2009 Market Report

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Connie Harvey helps Buyers and Sellers with their Nashville TN Real Estate needs.
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Contact Connie at 615-661-7800 x 1300 or via email HarveyC@realtracs.com .