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

2545 Properties
Page 1 of 213
$285,000
Subdivision: Rolling Hills Townhomes
3
Beds
2F11/2
Baths
1,308
Sq.Ft.
2017
Year Built
2
Days on Site
2301433
MLS
Great townhouse for First Time Homebuyers or Investors in growing Rolling Hills Subdivision. The unit could potentially rent for $1600/mo. Half bathroom and laundry on the first floor, Seller added...
$569,000
Subdivision: 2104 Burns Street Townhome
3
Beds
2F11/2
Baths
2,120
Sq.Ft.
2018
Year Built
2
Days on Site
2301434
MLS
OFFERING this fabulous East Nashville home and it is ready for a new owner! Featuring an open floor plan for entertaining, 3B/2.5 bath, 1 car garage, hardwood, tile and designer finishes. Enjoy the...
$379,900
Subdivision: Sugar Bend Est Sec 1
3
Beds
2F11/2
Baths
2,038
Sq.Ft.
1991
Year Built
2
Days on Site
2301437
MLS
his home has been completely renovated with all the charm and modern amenities * Located in a quiet settlement just minutes to Columbia and Spring Hill * New kitchen, flooring, bathrooms, Large bonus...
$399,900
Subdivision: Clark Place
4
Beds
2
Baths
2,388
Sq.Ft.
1963
Year Built
2
Days on Site
2301441
MLS
Awesome one owner home ready for your make over! Hardwood in main floor bedrooms & all are oversized w/big closets! Large LR/DR combo! Kitchen open to den w/FP! Tile baths! Rec room in basement w/FP...
$249,900
Subdivision: Roscoe Place
3
Beds
2
Baths
1,861
Sq.Ft.
1948
Year Built
2
Days on Site
2301442
MLS
MULTIPLE OFFERS HIGHEST & BEST BY 10/21 @ 10 AM!!! Cute home on corner lot in heart of Goodlettsville! Living room w/hardwood, dining room open to LR & Den! Kitchen with tile flooring, granite...
$414,900
Subdivision: Hygeia Springs Sec 3
3
Beds
2
Baths
2,095
Sq.Ft.
2006
Year Built
2
Days on Site
2301443
MLS
All Brick Home with Fully Fenced Rear Yard - Above-Ground Pool with Large Deck for Entertaining - Wonderful Kitchen with loads of Cabinets and Counter-Space (Granite) - All Kitchen Appliances Remain...
$320,000
Subdivision: Arbour Greene South
3
Beds
2F11/2
Baths
2,020
Sq.Ft.
2007
Year Built
2
Days on Site
2301444
MLS
Fantastic Ranch Style home with Large Bonus Room upstairs. New Laminate floor and new carpet throughout. Spacious 1st floor primary suite features walk-in closet, separate shower/tub & double...
$574,999
Subdivision: Woodbine
3
Beds
3
Baths
1,950
Sq.Ft.
2021
Year Built
2
Days on Site
2301445
MLS
Be the first to live in this BRAND NEW HOME with well appointed finishes and a very functional floor plan for various living situations. Great curb appeal on the main drag of bustling WOODBINE,...
$257,000
Subdivision: Hermitage Estates
3
Beds
1F11/2
Baths
1,352
Sq.Ft.
1966
Year Built
2
Days on Site
2301450
MLS
Great All Brick home with Partially finished basement! Home located in great location close to Ft. Campbell. Fully Fenced in yard with driveway gate and detached garage.
$599,900
Subdivision: Richland Meadows
2
Beds
2F11/2
Baths
1,091
Sq.Ft.
1957
Year Built
2
Days on Site
2301459
MLS
A Nashville GEM in a Fabulous Location! Charming Mid Century Modern*Separate Professional Recording Studio w/ Kitchenette & Half Bath can be converted to an Owner Occupied Short Term Rental*Stunning...
$323,000
Subdivision: Thompson Farms Sec 2
3
Beds
2
Baths
1,597
Sq.Ft.
2005
Year Built
2
Days on Site
2301461
MLS
Move in ready, charming 3 bedroom, freshly painted, zoned bedrooms, rec room and flex area up plus unfinished walk-in storage area, large back yard. 1 year Cinch home warranty provided!
Open 10/23
2621 Leawood Ct Murfreesboro, TN 37128
$374,900
Subdivision: Three Rivers
3
Beds
2F11/2
Baths
1,904
Sq.Ft.
2021
Year Built
2
Days on Site
2301465
MLS
Luxury townhome that is tucked away on a quiet street in an established community. End Unit with the owner's suite on main floor, two bedrooms w/ large closets, bonus room & loft upstairs. Features...

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