Dear Nashville Community,
Our hearts are breaking for everyone who’s been affected by Coronavirus (COVID-19) and the recent Middle Tennessee Tornadoes. We are all hoping you guys are staying safe and healthy during this unprecedented time in Nashville and our world. We are also here if you need us – so please don’t hesitate to reach out if you need anything at all.
Everyone keeps asking me: “What’s happening with the Real Estate Market right now?” I’ve heard numerous predictions on what will happen with the Market, but they are all speculation at this point. It may be years before we see the full impact of this situation.
The reality is that we are still experiencing a healthy Real Estate Market in Nashville and are hearing the same thing nationally. What does that mean? For example, we have polled a group of 30 Agents in our community of REALTORS®, and have learned that in over 60 transactions set to close within the next 60 days, we have only 2 transactions where the buyers are backing out – one due to the loss of a job, and the other due to loss of down payment money because of the current shift in the Stock Market we are seeing.
We also have heard story after story with over 12 Listings that have all gone on the Market this last week, which are currently either Under Contract or are still having a strong amount of showings and interest.
Of course, this could all change as things progress, but we are dedicated to maintaining a safe response to this situation. Our Team is still working and practicing safe social distancing, and will continue this for the foreseeable future.
The reality is that people still need a place to live, and buying remains a better option than renting – especially with interest rates as low as they currently are. This, coupled with the demand for good housing in Nashville, has proved to maintain a good Market locally.
What should you do if you need to sell or buy Real Estate during this time?
- If you need to sell your house, it’s actually still a Seller’s Market, and I encourage you to move forward with doing a virtual meeting with an Agent to discuss your house’s value. We can tour the home separately from you (or digitally), set up showings while you aren’t home, and do all paperwork/marketing remotely and digitally.
- If you need to buy, we can help you by doing a virtual consultation as we discover your needs, email you property Listings, and open doors to homes for you while maintaining a safe distance from you and others.
We will continue to update you guys as the Market is affected by the changes we are experiencing due to this global crisis. Our Team is thinking of and praying for each of you, and our world, during this time.
Allen Perry and the Nashville on the Move Team
Resources about COVID-19 Locally and Globally:
- Latest Updates from the CDC on Coronavirus (COVID-19)
- Latest Updates from the WHO on Coronavirus (COVID-19)
- Nashville Metro’s COVID-19 Response
Resources about COVID-19 & The Real Estate Market from Our Blog:
- A Recession Does Not Equal a Housing Crisis [INFOGRAPHIC]
- Impact of the Coronavirus on the U.S. Housing Market
- Three Reasons Why This Is Not a Housing Crisis
- 5 Simple Graphs Proving This Is NOT Like the Last Time
- Are We About to See a New Wave of Foreclosures?
- Equity Gain Growing in Nearly Every State
Resources about COVID-19 in Nashville & How to Support Local Businesses:
- Nashville City-Wide Closures and Restrictions
- COVID-19 in Nashville: What’s Closed, What’s Open, & More
- Nashville Restaurants Offering Delivery, To-Go, & Curbside Pick-Up