Tennessee Home Sales Tick Up, Median Price Keeps Rising, Available Properties Decline

Tuesday, July 9, 2019

There were 8,057 single-family home closings in Tennessee in June, down four percent from a year earlier, while the median price rose and available homes tightened, according to data compiled by Tennessee Realtors, the state industry association.

 

Single-family home sales slipped from 8,392 closings to 8,057, the median price grew 8.1 percent ($235,000 to $254,000), and available inventory was down 18 percent (24,027 to 19,693 properties).

 

Meanwhile, Tennessee condominium sales were down 12.4 percent (315 closings to 276), while the median condo price rose 16.9 percent ($154,000 to $180,000), and condo inventory fell 35 percent (916 to 594) over June 2018.

 

For the second quarter of 2019 (April-May-June), home sales rose 2.1  percent (23,578 to 24,064), and the median price increased seven percent ($228,500 to $244,500).

Condo sales slipped 2.6 percent (891 to 868), and the median condo price rose 9.4 percent ($156,531 to $171,250).


Capital One Closes Freddie Mac Loans Totaling $31 Million For Chattanooga Apartments

Tennessee Apartment Construction Ramps Up, Except In Nashville

Kim Bass: Safety Protocols To Expect When Working With A Realtor


Capital One announced on Tuesday that it has provided Freddie Mac loans totaling $31 million for the acquisition of two Chattanooga apartment communities, the 200-unit Evergreen at Hickory Valley ... (click for more)

Apartment construction is ramping up in Tennessee's major urban centers, with the exception of the Nashville Metro Area, which is witnessing a 51% dip. Here are the highlights: 3,725 ... (click for more)

In a few days, the National Association of Realtors will release their 2019 Member Safety Report, which surveys realtors around the nation about how safe they feel while on the job, their personal ... (click for more)


Real Estate

Capital One Closes Freddie Mac Loans Totaling $31 Million For Chattanooga Apartments

Capital One announced on Tuesday that it has provided Freddie Mac loans totaling $31 million for the acquisition of two Chattanooga apartment communities, the 200-unit Evergreen at Hickory Valley and the 238-unit Meridian at Hamilton Place. The sponsor, Two Waters Capital, has invested $250 million in multifamily communities and currently owns seven properties consisting of 1,942 ... (click for more)

Tennessee Apartment Construction Ramps Up, Except In Nashville

Apartment construction is ramping up in Tennessee's major urban centers, with the exception of the Nashville Metro Area, which is witnessing a 51% dip. Here are the highlights: 3,725 new units are estimated to hit the Nashville Metro market by the end of the year. This may sound like a significant addition, but it is actually less than half of what developers had built ... (click for more)

Breaking News

Dr. William Jackson Named Erlanger’s New CEO; Spiegel Gets Year's Salary, Continuing Insurance

During a specially-called meeting of the Erlanger Health System Board of Trustees, Chairman Mike Griffin announced that Chief Medical Officer Dr. William L. Jackson Jr., has been appointed as the health system’s new president and chief executive officer. Also a settlement was reached with former president Kevin Spiegel, who resigned last week under pressure from the board. ... (click for more)

Car Accident On Lee Highway Causes Vehicle To Crash Into Hotel

A car accident on Lee Highway caused a gold van to leave the road, crash into an SUV in a hotel parking lot and then into two hotel rooms, structurally damaging the building. The incident happened just after 3 p.m. Wednesday at the In Town Suites on Lee Highway. Both hotel rooms were empty at the time of the incident. A total of 12 surrounding rooms were evacuated as a precaution. ... (click for more)

Opinion

Let The Water Company Pay The Bill - And Response

Tennessee American breaks a line and 35,000 people lose water for three days. Well they don’t exactly admit they broke it, they were working on it a few feet away and it just broke….so they say. One half of TAWC service area is out of water three days and nights, hospitals canceling surgery, schools closed and opened and then sending the children home, businesses shut down, government ... (click for more)

Gregg Gentry Says He Was Not At Meeting On Nurse Pay

Regarding Mr. Exum's claim in his Sept. 12 column that Erlanger Chief Administrative Officer Gregg Gentry attended his Sept. 4 meeting with Kevin Spiegel is not accurate. Mr. Gentry said he was not at this meeting. (click for more)