Nashville Home Sales Up 10%

[Hankster]

Here,s an article from the Nashville City paper. The city is still boomin. Home sales are up 10% over last year, while condo sales are up by a whopping 50%!. I think the condo sales increase is a sign of the tremendous changes beginning to take place in Nashville, as more people are moving into condos in the city center.

Home sales keep up record pace

By Don Mooradian, [email protected]

September 09, 2005

Middle Tennessee residential sales increased about 10 percent in August compared to a year ago, continuing a record-setting pace for the market, according to figures released Thursday by the Greater Nashville Association of Realtors.

The report also showed a dramatic 50 percent increase in condominium sales during the past year. Although the number of sales in the condo market is much lower than the single-family market (480 compared to 3,000-plus), the numbers are noteworthy.

[it's just dave]

Pretty dramatic numbers. It seems records just keep getting broken. All this on top of the story in the Tennessean about "little" Spring Hill, a town most hadn't heard of only a few years ago. Numbers going from, what, 1700 to 7000 to 17,000 and now bracing for 10,000 more? Didn't Spring Hill used to be just a filling station and a grocery...and no stop light? I might have to go check it out sometime pretty soon. Saturn really changed that entire area.

The condo increase is fascinating and as you say, really representative of what the current, and hopefully, continuing trends are.

[cheeriokid61]

Spring Hill is insane. I don't think the growth is good, until they imrove the infrastructure. The traffic there is horrible, and they've had a bad history with their water system.

But anyway, the new Goose Creek area, about to explode, in the south of Franklin, is going to really boost the area.

By the way, I'm not sure if it's still true, but Spring Hill was the 14th Fastest growing city IN THE COUNTRY!!.

Wow.

[Boisefan]

I actually lived in Spring Hill 2 years ago, then moved to Boise, and that city is insane. When i left there was probably about 10,000 in the city, and now it is 17,000, and now 10,000 more! When i left there was still some open space in some areas, but now thats all about to be filled in, i came back this summer and was suprised about the growth, both Franklin and Spring Hills, didn't see much of Nashville though.

[Hankster]

I actually lived in Spring Hill 2 years ago, then moved to Boise, and that city is insane. When i left there was probably about 10,000 in the city, and now it is 17,000, and now 10,000 more! When i left there was still some open space in some areas, but now thats all about to be filled in, i came back this summer and was suprised about the growth, both Franklin and Spring Hills, didn't see much of Nashville though.

<{POST_SNAPBACK}>

I haven't been to Spring Hill in a while, and didn't know it was growing quite that fast. Here's the figures from the Census bureau, and they basically support what's being said on this thread.

Tennessee Census Estimates - Cities - 2000 to 2004

Population in 2000 - 7,715

Population in 2004 - 14,431

Doubling in just 4 years! There's probably no doubt there up to 17,000 by now. And adding another 10,00 on top of that! Yes, Spring Hill is insane!

By the way, the growth in Murfressboro and Franklin shown in the census estimates is pretty amazing, too!

[Boisefan]

Growth numbers in Williamson, Rutherford, and Sumner county are all insane. Boise area's growth numbers are insane too, Meridian went from 35,000 and is estimated at 56,000+, Boise was 185,000 in 2000, now is estimated at 200,000+, Nampa, ID was about 50,000 and now is estimated at 75,000 people. The metro area is expected to hit a million in 2020 at the current growth rate.

[cheeriokid61]

Wow, I wasn't expecting that. I thought Boise was one of those towns that never really will grow up. That's awesome news, that is, if you want it to grow up.

[Boisefan]

Boise has alot going for it, it has the corperate headquarters for

-Albertsons(2nd largest grocery chain in US)

-Micron(largest producer of computerchips in world)

-Washington Group Intl.(built Hoover Dam with 5 other companies, helping rebuild Iraq)

and The HP laser printer was first made at HP's plant in Boise.

-Airport is about to expand, allready at capacity after an expansion and new terminal last year, and only large airport in the state.

-Downtown condo market is booming, already has 4,000 living in downtown.

-Is over 300 miles from any other large city, very lilttle compition, and high quality of life, low cost of living.

[Rural King]

Isn't Albertson's up for sale?

[Boisefan]

Yes, but a private buyer would most likely happen, so who knows what will happen, hopefully a buyer from town will buy it, its history is in Boise, so it should stay in Boise, and hopefully the new owner thinks about the companies hilstory. If it leaves The Idaho Statesman made it seem like Abertson's was trying to cash in on the real estate boom.

[rocket9561]

Growth numbers in Williamson, Rutherford, and Sumner county are all insane.

<{POST_SNAPBACK}>

Yeah, Sumner is projected to be growing faster now than it was during the 90s. By cumulative change it is the 4th fastest growing county in the state and by percent it is 9th. The Nashville area seems to still be dominating the state in residential growth and doesn't seem to be slowing down at all. Looks like Rutherford County could pass up Chattanooga's Hamilton county to become the fourth largest in the state within the next 10 years.

Fastest Growing Counties

By cumulative numbers..

1. Rutherford (Nashville)

2. Williamson (Nashville)

3. Knox (Knoxville)

4. Sumner (Nashville)

5. Shelby (Memphis)

By Percent

1. Fayette (Memphis)

2. Williamson (Nashville)

3. Rutherford (Nashville)

4. Wilson (Nashville)

5. Bedford (Non-MSA)

[ATLBrain]

The latest info from the Metropolitan Planning Agency gives these projections for 2010 for the Nashville area:

Davidson 640K

Rutherford 250K

Williamson 185K

Montgomery 180K

Sumner 170K

Wilson 120K

Maury 95K

Robertson 70K

Dickson 50K

Cheatham 45K

Total.......... 1.805M

[cheeriokid61]

Nashville at 640K?! That's a lot.

[monsoon]

Is Nashville seeing any uptick in the market because of the exodus from Mississippi and NO? It seems that every house has been sold in Baton Rouge and I was wondering how far North it went.

[Hankster]

The latest info from the Metropolitan Planning Agency gives these projections for 2010 for the Nashville area:

Davidson      640K

Rutherford    250K

Williamson    185K

Montgomery  180K

Sumner        170K

Wilson          120K

Maury            95K

Robertson      70K

Dickson          50K

Cheatham      45K

Total.......... 1.805M

<{POST_SNAPBACK}>

Those numbers are a little higher than any I've seen. I searched the Nashville.gov website for this data with no success. I did find a projection made at least a year ago of just under 620,000 for Davidson County in 2010. I was just wondering if you can show me the documentation for the above numbers.

[Rural King]

The latest info from the Metropolitan Planning Agency gives these projections for 2010 for the Nashville area:

Davidson

[smeagolsfree]

You need to keep an eye on Cheatham as well. Now that hwy12 is 4 laned to Ashland City, there has started to be growth here as well. I do not remember the exact numbers, but there was talk of growth rates there in the 20 % range over the next 20 years. There are a lot of new housing developments in Pleasant View as well as Ashland City and Kingston Springs which are all closer than Dickson. A lot of land to be developed and easy access to Nashville either on I 40, I 24, or Hwy 12. The one draw back there is the land will be more difficult and expensive to develop because of terrain, but things are starting to happen regardless. Acouple of examples in Ashland City are the new condos and marina that are being built. Site work has began on this project. The other is a new subdivision just off Hwy 49. It has almost a 100 acres and the homes are going to be around a half million each. The lots alone are going for around $45,000. I am not saying Dickson will not grow either.

From the way things are going, I believe Dickson and Cheatham will have an advantage over some of the other counties because of land price and availability. Both counties have huge potential.

Also the northern fringe of Davidson County will eventually have to be developed, regardless of the expense due to the lay of the land and the rock. There are three new develpments going in along the Briley Pkwy northern loop. Two are sort of small, but there will be a lot more going on just off Briley in the next few years beacause of location.

[Rural King]

Cheatham definately has the advantage of being closer to Davidson and IMO will be a new frontier for commuters looking to live outside the "City". I really don't see Dickson becoming a commuter area like Cheatham, rather I see it growing a decent rate economically and in population due to its proximity to Nashville's markets and amenities, but not really not seeing alot of growth in commuters -although I'm sure eventually some folks will brave that commute at some point and find it viable. I think most folks who move to Dickson will work and live there, and find its size, presently offered amenities, and most of all its proximity to Nashville as strong selling points; the same holds true for businesses and industries looking to locate in the area.

[Hankster]

Pretty dramatic numbers. It seems records just keep getting broken. All this on top of the story in the Tennessean about "little" Spring Hill, a town most hadn't heard of only a few years ago. Numbers going from, what, 1700 to 7000 to 17,000 and now bracing for 10,000 more? Didn't Spring Hill used to be just a filling station and a grocery...and no stop light? I might have to go check it out sometime pretty soon. Saturn really changed that entire area.

The condo increase is fascinating and as you say, really representative of what the current, and hopefully, continuing trends are.

I just saw this recent entry from bidclerk.com on an absolutely massive project slated to begin in Spring Hill early next year. This one project alone could add more than 10,000 to Spring Hill's population! I just can't believe how fast that area is growing! It's scary.

Project Type: Building Use: Reported: Status: Private / Public: Location:

New Construction

Site Work Office

Retail

Multi-Residential

Residential 09/26/2005 Sub-Bidding Private Spring Hill, TN

Project Address: Available to subscribers only. Sign Up Now! Bid Date: Est. Start Date:

ASAP January 2006

Description:

Site work and new construction of a mixed-use development in Spring Hill. Plans call for the construction of a 315-acre development to house 4,300 housing units, commercial and retail development.

[cheeriokid61]

Holy crap.

[Lexy]

Running out of room in Franklin area means more people for Spring Hill.