Nashville, Tennessee Condos: a Market Trend

Author: colbymoore | Posted: 31.03.2012

Nashville, aka Music City USA, is where a lot of music history has been made. Nashville is home to the Grand Ole Opry, the world’s longest running live show program. It’s also home to the Country Music Hall of Fame and the CMA (Country Music Association) Music Festival. Yet there’s more to Nashville than just great music. With its picturesque riverfront and famous streets, this thriving metropolis is the perfect place for condo living.

Nashville is Tennessee’s second largest city next to Memphis, and is the most visited city in the state. In addition to being a major destination for music recording and production, it’s a major center for both health care and transportation companies. This has led many downtown buildings to be transformed into real estate condo sites. Nashville heritage buildings like the Werthan Mills factory and the old Church Street law offices have now become up-scale condo residences.

The condo market in downtown Nashville is so hot that a lot of these developments are sold out even before they are built. Still, despite the popularity of downtown Nashville condos, there are still many fine units available in popular neighborhoods like Sobro and The Gulch. Nashville’s downtown has a wide array of condo designs you can choose, from bohemian loft-style units to luxurious riverfront apartments.

The entire country has been trying to recover from the foreclosure crisis that affected millions of Americans since it began in 2007, and Nashville is no exception. By mid-2011, the national foreclosure rate was hovering around 3.5 percent per number of households; Nashville had a rate of just 1.84 percent. That’s significantly lower compared to the national average.

You’ve probably heard from various media that with the current economy, it’s not a good time to purchase real estate. Though the statement may hold true for the rest of the country, it doesn’t reflect the Nashville real estate numbers. Nashville real estate trends show home sales from the last quarter of 2011 are significantly higher than the last quarter of 2010. For December 2011 alone, sold homes were up more than 18 percent from the previous year. Condos in Franklin TN make up a huge part of that number.

Nashville is a great place to live. Forbes Magazine even declared it as one of the best places to spend your retirement. You can try to wait it out and look at Franklin TN condos when the economy gets back on its feet, but there’s no guarantee that the condo you’ve been longing for will still be available in the market. Not with the rate that they are selling.You can search for tips on buying condos or looking for home builder Nashville companies at styleathome.com.

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