Nashville’s home closings have exceeded last year selling 2,475 residential properties in November.
Hagan Stone, president of the Greater Nashville Association of Realtors, has been quoted saying, “This is the highest level of closings for the month of November our region has seen since 2006.” Stone’s association tracks home sales and this is proof of a consistent and growing local home market.
Even though sales are up, inventory seems to still be at a low. The market has limited supply of homes for sales especially in growing neighborhoods such as Green Hills, Berry Hill, Belle Meade, and 12 South. This year there were 915 fewer single-family homes on the Nashville market than in October. In November there were 675 fewer.
Nashville is still on track to beat last year’s closings with 486 sales away from 2013’s 30,917 sales. Nashville’s year after year increase is contrasts with the near 4 percent decline in home sales nationwide. It all goes back to the ‘it’ city, Nashville is a city of job growth and has a large amount of people moving in.