This is what the last 3 recessions tell us about Nashville


This is how Nashville survived the last 3 recessionsIt’s hard to forget the Great Recession.  

I often refer to it as the Mortgage Crisis, because that was the impetus of our downfall and part of the delay in the rebound.  

The banks went from selling mortgages to everyone, to shutting down the supply of financing overnight. Since the housing market is 20% of our Nation’s GDP, it was a huge hit to the economy.  

Here’s what happened in Nashville.  

From the peak in 2007 to the trough in 2009, the median sales price decreased from $184,000 to a low of $165,995, or a 9.8% drop in median price.   

Over that same time period, the number of home sales dropped in half, mostly due to limited lending.  It was like watching a train wreck in slow motion, it took two years to hit bottom and then four more years to fully recover in price.

The truth is we were very fortunate that Nashville’s vibrant economy kept us in a much better position than the rest of the country which averaged a 33% drop in value.   

Some places have never fully recovered.  

Most economists do not expect anything like the last recession because one-fifth of our economy isn’t backed by junk mortgages and credit default swaps.

They expect it to be more similar to the traditional recession.

In 2000-2001, we had the dot-com bubble burst along with 9/11.  During that recession, home sales in Nashville increased from 24,811 to 26,556, or about 7%.  And median home prices over the same time period increased by 2%.  

That one sounds more like a bump in the road than a crisis.  

In 1990, we experienced a recession due to the rising price of oil, Operation Desert Storm, and a weak Fed policy.  

Information on Nashville median home prices is not available for this time period. However, I was able to check home sales which increased 4% during the 1990 recession.  I would expect that the effect on prices would have been similar.  

I’m saying all this as a cautionary tale for those who are waiting on the next recession to jump in.  

I understand what you are feeling, but the numbers don’t add up. It’s possible that Nashville escapes the brunt of the next recession too.  And that our prices continue to improve.

With rates near all-time lows again, there might not be a better time to buy than now.  

Whether you agree with me or not, send a message and let me know your thoughts on Nashville. 

To get a pdf version of this report: http://bit.ly/NashTN3

2106 Properties
Page 1 of 176
Open 8/1
4641 Hwy 76 Cottontown, TN 37048
3
Beds
2F11/2
Baths
2,450
Sq.Ft.
2003
Year Built
1
Day on Site
2276813
MLS
Beautiful custom built log home on Very Private 2 acres. Open Floor Plan with Amazing Panoramic Views. (Gatlinburg like views) Massive Fireplace & Lots of Room for Entertaining! Outdoor Living...
Open 8/1
1840 Alsup Mill Ln Lebanon, TN 37090
$634,900
Subdivision: Patricia Locke Prop
3
Beds
2
Baths
3,294
Sq.Ft.
2007
Year Built
1
Day on Site
2276814
MLS
"Oh we just love it here!" will be part of your future chats about this special place. Quiet, sun-filled & comfortable this log home offers the "Smoky Mountain getaway" mood while staying put. ~ 7...
$335,000
Subdivision: Fairfield Court
3
Beds
2
Baths
1,550
Sq.Ft.
2002
Year Built
1
Day on Site
2276816
MLS
Beautiful ranch on quiet cul-de-sac, with an open floor plan, vaulted ceiling, and a perfectly flat, fenced backyard for pets, kids, family and friends. HVAC and Roof only 4 years old. No HOA! Buyers...
$225,000
Subdivision: Yates Sub Div
3
Beds
2
Baths
1,560
Sq.Ft.
1994
Year Built
2
Days on Site
2276451
MLS
Walk to Piggly Wiggly, Dollar General, or the soda shop at Thomas Drugs. They are all that close! Not to mention the Barbeque Place!!! Country-city living at it's absolute best! Great schools...no...
$265,000
Subdivision: Spring Meade
3
Beds
2
Baths
1,400
Sq.Ft.
2003
Year Built
2
Days on Site
2276457
MLS
1st Showing Friday ~ One Level Home ~ 3 beds w/ 2 baths ~ Large level Fenced Yard w/ 8x10 Storage shed ~ 2 car garage ~ Located on a cul-de-sac ~Tall Ceilings ~ Roof 4 yr old ~ HVAC less than a year...
$340,000
Subdivision: Riverdale Est Sec I Resub
3
Beds
2
Baths
1,951
Sq.Ft.
1973
Year Built
2
Days on Site
2276442
MLS
Are you looking for a swimming pool? This is the home for you! This spacious 3 bedroom 2 bathroom home is great for entertaining. It features a huge living room. Covered Porch and outdoor...
Open 7/31
7355 Powells Chapel Rd Murfreesboro, TN 37129
$469,000
Subdivision: Chapel Hills Sec 5 Ph 2
3
Beds
2F11/2
Baths
2,379
Sq.Ft.
1999
Year Built
2
Days on Site
2276461
MLS
Beautiful home with private country setting. Minutes from town with quick access to interstate 840 and no HOA. This updated home offers over 2300 square feet with master on main level with plenty of...
$399,999
Subdivision: Eastmeade
3
Beds
2F11/2
Baths
1,910
Sq.Ft.
2021
Year Built
2
Days on Site
2276463
MLS
All brick new construction with all the cities amenities. NO HOA!!!!! Lots of upgrades. Laminate, granite counter tops, granite tile, vaulted ceilings, huge bonus room with half bath, and lots of...
$386,000
Subdivision: Eastmeade
3
Beds
2F11/2
Baths
1,847
Sq.Ft.
2021
Year Built
2
Days on Site
2276465
MLS
All brick new construction with all city conveniences. NO HOA!!!!! Lots of upgrades. Laminate, granite counter tops, granite tile, vaulted ceilings, huge bonus room with half bath, and lots of...
$469,000
Subdivision: Windermere Sec 1
4
Beds
2F11/2
Baths
2,224
Sq.Ft.
1975
Year Built
2
Days on Site
2276470
MLS
Wonderful family home in PREMIUM location! Beautiful Corner Lot, Screened-in Back Porch sitting on 0.64 acres. Gas Log Fireplace in Den, Spacious Formal Dining Room & Two Living Rooms. Brand New...
$269,900
Subdivision: Fairview
3
Beds
1
Baths
1,123
Sq.Ft.
1962
Year Built
2
Days on Site
2276475
MLS
Adorable all brick home in Nashville! 3 br, Hardwood floors under carpet, covered back deck, huge back yard, completely fenced, nice 12x20 storage building with electricity, above ground pool with...
$410,000
Subdivision: The Veridian
3
Beds
2F11/2
Baths
2,198
Sq.Ft.
2021
Year Built
2
Days on Site
2276477
MLS
Stunning and beautiful gated development located in the heart of Sango. Once built, this two-story will have everything you need and much more. While the master is on the main level. Open floor plan,...

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