According to figures provided by the Greater Nashville Association of REALTORS®, Nashville’s 2016 home sales are up 11% over last year with no signs of slowing down.
“As an industry we have started the second quarter with the same trends and increases we saw in the first,” said Denise Creswell, GNAR President. “Last October Forbes listed Nashville fifth on their list of cities Americans are flocking to.”
Nashville is among the top 20 housing markets in the country and our metro area has been recognized by the Brookings Institute as the 5th best metro area for job growth over the past 5 years.
Housing inventory remains one of Nashville’s biggest challenges to our market. In April, inventory was down almost 700 homes from available properties last April. Decreased inventory and high buyer demand creates a sellers market. Until there are more available homes on the market, prices will continue to rise.