NASHVILLE, Tenn. (WKRN) – If you are looking to buy a house, now just may be your time. The Nashville housing market is shifting, becoming more buyer friendly according to new data released by Zillow.
“The word is out that it’s not as white hot as it used to be,” Shane Tallant with Village Real Estate stated.
He attributes the recent shift in the market to supply and demand.
“Buyers were coming to Nashville and there just wasn’t enough homes for them to buy and it became a sellers’ market because of that. Now basically people are still coming, as we know, to Nashville but there is inventory so it’s kind of slowed that rat race to get a home if you will,” said Tallant.
He says developers and buyers are focusing their search more on counties around the urban core of Nashville.
“What we are seeing developers do is go out and so you are able to find land, you are able to develop that land, build houses and have front doors for this mass amount of people coming to town,” Tallant said while pointing out that there is still construction nearly everywhere.
“There’s new construction. This house right here I’ll be listing in the next few months, so people are building houses in the urban core. We are in Bell Meade right now, so it is happening. You don’t have to go outside of Nashville, It’s just a matter of what your threshold is and what you want to pay for it.”
Tallant has been working in real estate for nearly a decade and says the market now is just as hot as ever for both buyers and sellers.
“All eyes on Nashville, it’s the ‘It’ city. Everyone wants to be here, so with that comes people wanting to buy houses. The announcement of Amazon adding 5,000 jobs and Alliance Bernstein adding 1,500 jobs, I mean there’s no question people want to be in Nashville, so I see the market as really, really great. It’s a nice steady flow for buyers and sellers.”
Tallant says that makes it even more important to have a professional help in your housing hunt.
“There is a lot that goes into it especially in a market like this where it’s very competitive and there are a lot of tricks to the trade, where a real estate agent like myself could help in getting you the home you love and if I’m selling your home getting you top dollar for the house.”
Zillow says home value appreciation nationwide fell below 7% annually, for the first time in more than two years.
They say homes are also sitting on the market longer and that the magic window for sellers just opened, pointing to the first two weeks of May as the best time to list a home.
News 2 is reporting on Nashville’s historic growth and the growing pains that come with it. Click here for more Nashville 2019 reports.