Franklin TN Home Sales 2008
Studying the numbers in Franklin for 2008 was very enlightening. Sales, like everywhere in Middle Tennessee were down. OK, like everywhere in the country. My bad. Anyway...
While sales in general were down 30% in Franklin, new construction sales were up considerably. Over 63% of the sales in 2008 were new construction. In 2007 the same number was only 42%.
Number of homes Closed in 2007 were 1831
Number of homes closed in 2008 were 1283
A look at the monthly sales from one year to the next is as follows:
There was a certain amount of consistancy throughout the year in that sales were down each month. The extreme decreases were in the months of January, February, November and December. First quarter 2009 will show how that trend is changing.
Visit specific Neighborhoods in Franklin to see how they compared:
River Landing, Franklin TN 2008 Market Trends
Founders Pointe, Franklin TN 2008 Market Trends
Chestnut Bend, Franklin TN 2008 Market Trends
See how Franklin compares to the Nashville TN Real Estate Sales.
See Brentwood TN Real Estate Market Report
Prepared by Connie Harvey. Search for homes in Franklin TN. Contact me at HarveyC@realtracs.com or 615-661-7800 x 1300.
Franklin TN Real Estate market is still thriving. Southern Living has named it one of the top 5 places to live!
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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Southern Living has named it one of the top 5 places to live!
No doubt!
Connie it sure looks consistent, and I have to tell you I am shocked at the number of new construction still going on and at 68%, just unbelieveable.
Missy, I think what has happened is there is so much inventory the Builders are making their stuff very attractive.
Very nice report. I am curious to know what are the actual numbers of new home sales from 2007 to 2008. I see the percentage of total new home sales to existing homes is up, but are the actual numbers up?
Mike, no the number of closings are not up. It's just strange that those buying in Franklin are finding new construction more attractive.
Connie, thanks for clarifying that. It is difficult for individual home owners to compete with builders in this market. As things improve again the existing home sales will get back to where they should be. It is a great time to be a buyer.
Mike, It's difficult for everyone selling right now. It's truly about pricing correctly and being in impeccable condition!