Here's some good news about Nashville
I wanted to give you a quick update on the real estate market in Nashville.
Before I do that if you need anything [and I mean anything] just let me know and I’ll do whatever I can to help you. Ok?
We are taking lots of extra precautions, especially with showings. We’ve put on hold any unnecessary face-to-face meetings, and offering to do showings via Facetime. For those who need to see a home in person, we are validating that everyone is free of symptoms, avoiding touching surfaces, and making sure that personal hygiene is a top priority. And, there is much more that we are doing behind the scenes.
Here’s the good news, the Nashville real estate market is strong and steady.
The best indicator of recent market performance is the number of closings. Other than the bump we expect to see at the end of every month, you’ll see in the attached graph that the number of closing every week is holding steady since the end of January.
The best indicators for short term performance are the number of showings and the number of pending sales. Showings have tapered off slightly since February, but that is not uncommon, as we typically see a small slow down in March as people enjoy their spring break time.
There are currently 4,684 listings in pending status across Middle Tennessee, that figure is in ahead of the 3,504 sales pending reported at the end of February.
These are good signs for Tennesseans since housing is 25% of the national economy.
Nashville has proven to be extraordinarily resilient during downturns in the economy as I showed you in this case study that I put together, How Nashville Survived the Last 3 Recessions. You can get a copy here: http://bit.ly/NashTN3
Once again I want to stress that if you need anything, Gretchen and I are here for you. You can TEXT/CALL me at 615.257.9996.
✌️ & ❤️ y’all
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