Buying A Home In A Million Dollar Nashville Neighborhood

Dated: 12/20/2018

Views: 315

by TJ Anderson


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Click the image (or here) to see Trulia Research's data on million-dollar neighborhoods


Back in those wild, innocent days of 2016, I took a look at “What A Million Dollar Home In Nashville Looks Like,” — because housing prices in Nashville were shifting upward so quickly, and homebuyers’ heads seemed to be spinning so regularly.


We had plenty of million-dollar homes in 2016, but certainly fewer than we have now, as we roll into 2019. And that’s underlined by a new study from Trulia Research, which dug into “million-dollar neighborhoods” across the country, and tracked where certain areas were crossing over into that luxury dollar figure.


A lot’s changed in Nashville in a couple years, obviously, including on the million-dollar homes front. According to the data, Nashville now has five “million-dollar neighborhoods,” where the median home value crosses over $1 million — and that’s up from three over the past year, which means a full 40 percent of our million-dollar-plus neighborhood stock came about just in 12 months. It’s been an eventful 2018.


What the ‘million-dollar neighborhoods’ research shows


For the study, Trulia Research dug into 15,100 neighborhoods nationwide, and found a little more than 800 that topped $1 million in median home value. So, relatively speaking, million-dollar neighborhoods are still a bit of a rarity. Two-thirds of those million-dollar U.S. neighborhoods, unsurprisingly, are in California. (In San Francisco, there are only 15 neighborhoods left that don’t reach the million-dollar mark.)


Some more interesting local data they mined: In 2012, the percentage of housing stock in Nashville that was worth more than $1 million sat at under 1 percent. In 2018, we were sitting at 2.2 percent, not far from Austin, Portland and even Sacramento, California. (To be fair, we’re still nestled below those other cities, but a lot closer than we are to, say, San Jose, which is at 70 percent above $1 million. And that we more than doubled our million-dollar stock in just a few years certainly highlights just how much the Nashville real estate market has grown.)


If you’re curious about what the “million-dollar” data looks like, city by city and neighborhood by neighborhood, you can explore an interactive map, and center in on Nashville to see where the million-dollar housing stock congregates here. 


Below, a look at what you can buy in Nashville’s “million-dollar neighborhoods,” mostly close to that million-dollar figure.


Belle Meade

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110 Bonaventure Place

Nashville, TN 37205

$1,075,000

That Belle Meade is one of Nashville’s “million-dollar neighborhoods” will surprise exactly zero Nashvillians — it’s long been one of our most desired areas, with some of Nashville’s most luxurious homes. In late 2018/rolling into ’19, this large, traditional home, on a full acre of property, is emblematic of what you can get for about $1 million there. It’s a stately place (that could benefit from a few aesthetic upgrades), with more than 5,000 square feet of living space, on a private cul-de-sac.


Devonshire

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6428 Worchester Dr

Nashville, TN 37221

$1,040,000

Over in Devonshire, golfers get the perk of being right near the Harpeth Hills Golf Course, and nature lovers get to enjoy being adjacent to Percy Warner Park and just down the way from Cheekwood. And here, too, you can snag a large, traditional home (more than 5,000 square feet) on a large piece of property (over an acre) for about a million.


Green Hills

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1922 A Castleman Dr

Nashville, TN 37215

$1,024,900

The million-dollar data points to a small section of Green Hills around Timber Lane/Woodleigh Drive as one of Nashville’s moneyed sections. The average home price in Green Hills, as of this posting, was $1,077,500, so I figured we could expand outward from there a little. This new-construction home was among the neighborhood’s most popular listings as I was pulling this together, and it’s easy to see why — bright, open and airy with lots of high-style finishes, plenty of space (at almost 4,000 square feet) and a location that puts you close to the park, the mall, the Bluebird and more.


Neighbors of Granny White

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5032 High Valley Dr.

Brentwood, TN 37027

$2,250,000

Just… a little over budget here. But this High Valley home on a private lake in the million-dollar Granny White area was too fun not to share. The cinema room/home bar alone is a million-dollar living experience. The covered porch overlooking 2 1/2-plus private acres makes for a serious draw, too.


Looking for a luxury home in an exclusive Nashville neighborhood? Something at a more approachable budget? Whatever your Nashville homebuying needs might be, I’d love to help you find a new home that fits. Take a look at some Nashville homes for sale here, and call or email TJ Anderson Homes here.


Properties are listed with their own respective real estate firms, and not under agreement with TJ Anderson and/or Benchmark Realty, LLC, unless noted.

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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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