Home Sales in the Nashville Area through the first 3 months of 2009 are lower  by 34% .  Nashville home prices also declined by  -6.3%.  in the same period. 
Home Sales # 2009 Q1 2008 Q1 Homes Sales $  2009 Q1  2008 Q1
Nashville 5 County Area 2708 4105   Greater Nashville $223,945 $239,085
Davidson Co. 1036 1682   Davidson Co $196,287 $215,127
Rutherford Co. 611 870   Rutherford Co $162,578 $186,613
Sumner Co. 379 538   Sumner Co $192,742 $202,725
Williamson Co. 401 557   Williamson Co $439,625 $444,414
Wilson Co. 281 440   Wilson Co $193,649 $220,559
             

 The Nashville average home price dropped to $223,945 from $239,085 This drop was less than half of the 15-18% on average that other cities saw this year.

 

 New Construction is off significantly.  New homes in Mt. Juliet’s Providence sub-division  are down 71% from last year.  Builders have become cautious and are trying to build to order.  

Jan-March homes sales in Nashville were 2708 homes vs. 4105 homes in the same period last year. Nashville faired much better than other cities where 50% declines was not unusual.

Inventories are manageable and in many cases lower than 2008.  Inventories should increase though as we pass Tax Time and homeowners in the Nashville area begin to put their properties on the market.

This also means that existing sales are faring much better than new homes. 

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