| With an area of over 42,000 sq miles and a | | | | With the devaluation of our dollar and high energy |
| population of over 6,000,000 residents, | | | | costs, I see a two year stagnation in the real |
| Tennessee is a very popular state. However, | | | | estate market for Tennessee. New home builders |
| recent national economic developments in the | | | | have a high inventory of unsold units which |
| housing market have indeed reduced the new and | | | | causes a significant drop in home values. This |
| existing home sales to record lows in Tennessee. | | | | makes a buyers market with many bargains to |
| In the rural areas of Tennessee, home prices for | | | | choose from. |
| the most part, have been holding steady with a | | | | In conclusion: |
| slight decline in sales. However, the most | | | | The future outlook for the Tennessee real estate |
| significant drop in new and existing home prices | | | | market is not as bleak as other states, due to |
| and sales are in the urban areas of Tennessee. | | | | many valuable assets that attract home buyers |
| The high inventory of new homes, makes a | | | | from the northern states as a retirement |
| difficult situation for the homeowner that wishes | | | | destination. Tennessee will indeed fair better in the |
| to sell their property. | | | | housing market than some of the high growth |
| In Tennessee, as well as most other states, the | | | | sections of the country, such as California or |
| home and apartment rental market is on the | | | | Florida. In some states, the home market may |
| upswing, with many new developments being | | | | take years to rebound. |
| under construction throughout the state. | | | | |
