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.
| Year | # of Units Sold | List Price | Sales Price | Days on Market |
| 2008 | 10 | $715,370 | $681,335 | 67 |
| 2009 | 6 | $579,225 | $559,750 | 171 |
| % Change | -33% | -19% | -18% | 255% |
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
Connie Harveyis a local agent with Pilkerton Realtors, serving home buyers and sellers in Nashville, TN, Brentwood TN, and Franklin TN. Let her help you realize your Real Estate goals. She can be reached at 615-371-2474.
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Connie nice work keeping everyone posted on what is going on in the RE market in your area!
I agree Connie, and I think the trickle up is starting to take effect. Great summary of the Franklin sales history. Ready now for the come back.