Go, Nashville, Go!

Dated: 10/17/2012

Views: 821

More good news for Music City!
On the real estate front, The Tennessean reports that we had 2,266 home closings in Nashville in September. That means closings this year were up a whopping 23.7 percent from last year.  Also up? The median price of a home here--now $175,000. That figure is up 7 percent from 2011. And one more comparison for you: In 2011, the average single family home in Nashville sat on the market for 94 days, as opposed to 82 days today.
Bottom line: There are more homes selling in Nashville, and selling for higher prices, and selling more quickly.
Likely to give our local economy another leg up: ABC's new hit show Nashville. I call it a "hit" because the premiere's ratings last week were certainly not shabby. It stood as the 2nd-highest-rated freshman series in Adults 18-49, behind only Revolution, and as the No. 1 new show across all key Women (W18-34/W18-49/W25-54).
Even though we've only been privvy to one episode so far, the show has reportedly already pumped millions of dollars into our city and is boosting the profile of and interest in our community.

"The Nashville impact on the local economy is expected to occur in two major waves," explained The Tennessean's Jaquetta White recently. "The first is the immediate spending tied to production. That includes the salary paid to local crew members ... and money spent with Tennessee businesses. The second is more difficult to quantify, initially, because it involves the potential increase in tourism and other investment if the show is a hit and Nashville lovers descend on the city hoping to, say, visit the Bluebird."
Did you watch Nashville? What's your verdict?

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TJ Anderson

TJ Anderson is a Nashville Realtor with Benchmark Realty who's helped countless clients both buy a home and sell a home in Nashville, Tennessee. He blogs about Nashville regularly, from Nashville-area....

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