NASHVILLE, Tenn. (WKRN) — A recent report ranked Nashville among the top metros drawing more people into the Volunteer State than out. But make no mistake, not all are moving directly into Davidson County.
“We’re seeing relocation like never before,” said Brian Copeland, President of Greater Nashville Realtors.
A historic imbalance of inventory and high buyer demand continues to create chaos in the market.
“You’re seeing growth from suburb areas bleed further out because of the need for more housing,” Jeff Checko said, broker and realtor with the Ashton Real Estate Group of RE/MAX Advantage. “Places that are 45 minutes away are now considered commuter allies, whereas when I first moved here in 2002, a 20 minute commute is what people were seeking.”
News 2 researched county by county, counting down the hottest zip codes in Middle Tennessee and the top spot may surprise you.
Before we disect the numbers, it’s important to understand what makes a zip code “hot.”
First, we have to look at the month supply absorption rate in the market, which is how many homes are on the market versus how many homes have moved over the past three months.
Secondly, we look at how much are sellers getting on the list of the sales price ratio.
We’ll start with Dickson County. The hottest zip code there is Dickson (37055), with 30 days on the market inventory available at 99% of list price.
In Williamson County, Brentwood (37027) and Franklin (37067) are almost tied with 25 days of inventory and sellers getting 101 to 102% of list price, respectively.
“They’re really seeing a huge rise because Williamson has been behind in what they’re approving for new infrastructure and approvals for communities so there’s so much demand in some areas it naturally has to bleed into outlying areas that are ready to grow their tax base and ready to approve products,” Checko said.
Heading north now to Robertson county, Springfield (37172) and White House (37188) are tied with 17 days of supply on the market with sellers getting 100.5% of the list price.
In Davidson County, the hottest zip code is Inglewood (37216), where Zillow says 33% of homes sold above list price in late 2020. Greater Nashville realtors says Inglewood has just 16 days of supply with sellers getting 100.2 % of list price.
In second place (37204) the 12 south, Melrose, 8th & Wedgewood area, with 20 days supply and 99.95 list-to-sales price.
In Rutherford County, the Northeast Murfreesboro area (37129), just east of I-24, is getting a lot of love with 15 days of market supply with sellers getting 100.6% of the list price.
In Sumner County, Hendersonville (37075) and Gallatin (37066) both have 14 days of supply and 100% of the list price.
“Hendersonville is kind of bursting at the seams and Gallatin is benefiting from that growth bleeding into that area,” Checko continued, “The same could go for Lebanon or Mt. Juliet, which is doing great providing roof tops and approvals for new communities.”
That takes us to Wilson County where 37122 and 37138 were neck and neck in Mt. Juliet.
“37122 has 8 days of inventory available that means if no homes hit the market, it’ll be 8 days until all the homes are gone and sellers are getting 100.5% of list price,” Copeland said.
Lastly, but certainly not least we take you to Maury county. Spring Hill comes in first place, with just four days of inventory and sellers getting 100.8%. Zillow reported 31% of homes in Spring Hill sold above list price.
“Congrats, if you live in Spring Hill, you officially have the hottest zip code in the viewing area,” Copeland said. “These are the feeder areas around greater Nashville. Nashville is the hub for them all and people want to live near Nashville or as close as they can get.”