Downtown Nashville - Moving Prices Upward?

The Tennesseean reported last week that, in Nashville, “Downtown Stands Up to Downturn”.

Many homes are retaining their value in downtown areas of Nashville and Franklin. Local realtors are seeing downtown homes, particularly historical homes, moving more quickly. One realtor claimed “Values are still strong because downtown has no rival”, as downtown has a unique charm, and is within close proximity to restaurants and entertainment.

Currently, there is plenty of housing inventory downtown. Many agree that prices had inflated even before the housing crisis. In 2006 and 2007, downtown Franklin homes were commanding as much as $325 per square foot. While the market for $1 million homes and above has diminished, historic homes are still hot commodities. Historic properties are priced higher per square foot, due to the fact that they cannot be rebuilt.

While Downtown Nashville properties have had prices reduced, they have not been discounted by the same percentages as in other areas. Realtors are encouraged, telling clients that the market will change, but sellers need to have patience.

Making the move to Nashville, Franklin, or another city in Middle Tennessee? Visit All My Sons of Nashville to learn about efficient and economical moving services in the greater Nashville Metro area. Click here for information on All My Sons of Nashville.