Tennessee Real Estate Companies

What to expect in Nashville real estate in 2016

2015 was a tremendous year for Nashville and Middle Tennessee. It was also an outstanding year for our area’s real estate market, and early signs indicate that 2016 will continue in the same direction.

As I begin my role as the 2016 President of the Greater Nashville Association of Realtors, I am excited about what lies ahead for our region and especially our industry. Here are a few things we might see in the industry this year.

More activity! The past year was one of the busiest our industry has seen in nearly a decade. With the job market expected to continue growing, consumer confidence remaining strong, and more folks re-entering the market after having lost their home to foreclosure during the downturn, the new year will likely bring even more activity and growth in monthly home sales.

Moderate price growth. Last year also was a big year for increases in home prices. For 2016, we can expect moderate price gains. Steady increases are much more sustainable and are favorable for sellers and buyers alike.

More millennial buyers. Millennials began returning to the market in 2015, making up one-third of all buyers. With the strong economy and job market, millennials are becoming more confident about purchasing a home. Those ages 25 to 34 are expected to be a big part of the first-time home buying market in 2016.

Limited choices. A healthy market will persuade many potential sellers to enter the market, but with strong buyer demand, it will take time to reach a more preferred inventory level. New construction starts combined with additional existing home sales will help, but buyers should continue to get pre-approved for a mortgage and be ready to act quickly.

With so many good things to look forward to, there also will be challenges. In addition to inventory concerns, affordability is a major issue, both locally and nationally. Mortgage rates increased slightly at the end of 2015 and they could rise again this year. Tightened credit standards and student loan debt are still real problems keeping potential buyers out of the market.

I believe 2016 will bring resolutions as we continue moving forward on the positive path that has brought us to where we are today.  I look forward to sharing relevant and insightful information with you through this column. Don’t hesitate to reach out to me if I can be of service to you. In the meantime, I wish you and yours a happy and healthy new year. [ http://www.tennessean.com/story/money/homes/2016/01/01/what-expect-nashville-real-estate-2016/78096798/ ]

Tennessee Real Estate Companies List:

Blue Ridge Propertieshttp://www.brphomes.com/lbrandon@brphomes.com(423) 239-01004610 Fort Henry Dr
Kingsport, TN 37663
Apple Realty & Auctionhttp://applesold.com/office@applerealty.net(423) 968-76531699 Blountville Blvd
Ste B
Blountville, TN 37620
Teresa E Bishop Reliant Realtyhttp://www.realestateagentfranklintn.com/bishopofrealestate@gmail.com(615) 414-8598256 Seaboard Ln
Ste E105
Franklin, TN 37067
Sherry Crabtree Benchmark Realty LLChttp://www.615homeinfo.com/hello@emailsherry.com(615) 485-0000318 Seaboard Ln
Ste 115
Franklin, TN 37067
USA Real Estate Companyhttp://www.usarealestatetn.com/johnsoncitytnhomes@charter.net(423) 282-00823024 Peoples St
Johnson City, TN 37604
Coldwell Banker Security Real Estatehttp://www.coldwellbankersecurity.com/cbsre@coldwellbankersecurity.com(423) 282-2595200 Princeton Rd
Johnson City, TN 37601
Jim Woods Realty Companyhttp://jimwoodsrealtyandauction.com/jim@jimwoodsrealtyandauction.com(423) 773-55691439 Hairetown Rd
Johnson City, TN 37604
Crye-Leike Realtorshttp://www.crye-leike.com/main/CustomerService@crye-leike.com(423) 756-07711201 Market St
Chattanooga, TN 37402
Herman Walldorf Cohttp://walldorf.com/info@walldorf.com(423) 756-2400109 E 8th St
Chattanooga, TN 37402
Jim Berry Companyhttp://www.jimberrycompany.com/support@jimberrycompany.com(423) 756-2507633 Chestnut St
Chattanooga, TN 37450
The Pryor Bacon Companyhttp://pryorbacon.com/pryor3@pryorbacon.com(423) 855-55554295 Cromwell Rd
Ste 311
Chattanooga, TN 37421
TopFlight Property Managementhttp://www.topflightpropertymanagement.com/info@TopFlightpm.com(931) 572-15802180 Peachers Mill Rd
Ste A
Clarksville, TN 37042