Why So Many House For Sale?

[Nashvilleherewecome2020]

Originally Posted by Labrat0116

$300k in Mt.Juliet ? Better tack on another $100Gs to buy there.

We're in Murfreesboro and the $300K is the low range where housing is starting here right now. Mt.Juilet is much nice and exclusive than Boro is.

Yes, I'm starting to realize this as I've seen double wide trailers sell for $300,000 in Mt. Juliet while houses by the lake sell for $1 million plus.

Mt. Juliet's a nice community though and one my family and I have fallen in love with during our time here. Quite frankly, Mt. Juliet doesn't look all that different from Williamson Co. and that's really what attracted us to this area based on the location of our jobs. I'm looking for a decent 3bd/2ba house with an acre of land but have started looking in the 350k-375k and might have to start looking higher than that.

[skeddy]

the economy is booming for most people, housing is red hot!

[usamathman]

Originally Posted by Labrat0116

New homes are snagged up faster than Cracker Jacks and existing homes often have bidding wars (on the lower end) and sell FAST ! F A S T >..FAST !

A lot folks are immigrating from California (escaping the high cost of living and taxes) and also really starting to pour in from large urban areas. Especially from New York City !

This here. People migrating from high cost of living cities to Nashville. Properties here are a steal.

[GolfMomTN]

Nashville/Davidson County has shot itself in the foot with the news that it raised property taxes by 33% while embracing the “Defund the Police” movement. We have a million dollar budget to buy in the area if we wish and we are NOT looking for homes in Nashville/Davidson County.

Having lived in Brentwood for three years (2013-2016), we knew that Nashville proper was run by liberals, but we now recognize that its leaders are mindless liberals!

[N.Cal]

Originally Posted by GolfMomTN

Nashville/Davidson County has shot itself in the foot with the news that it raised property taxes by 33% while embracing the “Defund the Police” movement. We have a million dollar budget to buy in the area if we wish and we are NOT looking for homes in Nashville/Davidson County.

Having lived in Brentwood for three years (2013-2016), we knew that Nashville proper was run by liberals, but we now recognize that its leaders are mindless liberals!

Houses in my neighborhood are going on the market and being sold in less than 48 hours.

[septimus]

Originally Posted by GolfMomTN

Nashville/Davidson County has shot itself in the foot with the news that it raised property taxes by 33% while embracing the “Defund the Police” movement. We have a million dollar budget to buy in the area if we wish and we are NOT looking for homes in Nashville/Davidson County.

Having lived in Brentwood for three years (2013-2016), we knew that Nashville proper was run by liberals, but we now recognize that its leaders are mindless liberals!

Metro's 34% increase is not deterring out of state buyers who are used to paying a lot more in property taxes. Even with the increase our taxes are still lower than many parts of the country.

Does the tax increase suck for current residents, yes, but my taxes should have never gone down during the 2016 reappraisal process. I've been saving over $1k/yr for the last 4 years.

[GolfMomTN]

Good to hear from you, Septimus. It has been a long time.

The concern for Nashville is that once it raises taxes by 33% and reduces its police budget, crime will go up. Once crime goes up, it will have to raise taxes again to fund the needed law enforcement.

From what I remember, you live in Williamson County which has an entirely different mindset towards law enforcement as compared to Nashville/Davidson County. I was there for the 2016 tax reduction which, from what I remember, was solely done because of the increased assessment values at that time. So, in effect, tax revenues will increase as the home assessment values and sale prices increase.

The concern for Davidson County is that as tax rates are increased and police services are reduced, it will be put more on par with the higher ad valorem taxes found in Texas which is a direct competitor for those out-of-state residents.

Yes, Californians and New Yorkers are fleeing the horrible taxes and crime that they are experiencing in those locations, but just as long will it take before Nashville or Tennessee resemble the cities and states that they fled? As you well know, longtime Nashville residents are fleeing to the surrounding suburbs.

We are comparing homes in the surrounding Dallas area and Nashville area and we certainly are taking notice of the real estate tax rates and overall comparison of attitudes towards law enforcement support. We are consciously avoiding Nashville/Davidson County and Dallas City proper.

We currently are in Florida and are only looking to move to a more centrally located state because our child is studying on the West coast. Tennessee and Texas are on the list since we know the states and have lived in them previously.

Texas is lucky to have Governor Abbott and Tennessee is lucky to have Governor Lee to support the law enforcement officers in the capital cities, but they can’t do much to affect the real estate taxes being imposed, or the view that lawlessness or liberal policies are being allowed by cities leaders which will have a direct affect on the desirability of the cities.

[septimus]

Originally Posted by GolfMomTN

Good to hear from you, Septimus. It has been a long time.

The concern for Nashville is that once it raises taxes by 33% and reduces its police budget, crime will go up. Once crime goes up, it will have to raise taxes again to fund the needed law enforcement.

From what I remember, you live in Williamson County which has an entirely different mindset towards law enforcement as compared to Nashville/Davidson County. I was there for the 2016 tax reduction which, from what I remember, was solely done because of the increased assessment values at that time. So, in effect, tax revenues will increase as the home assessment values and sale prices increase.

The concern for Davidson County is that as tax rates are increased and police services are reduced, it will be put more on par with the higher ad valorem taxes found in Texas which is a direct competitor for those out-of-state residents.

Yes, Californians and New Yorkers are fleeing the horrible taxes and crime that they are experiencing in those locations, but just as long will it take before Nashville or Tennessee resemble the cities and states that they fled? As you well know, longtime Nashville residents are fleeing to the surrounding suburbs.

We are comparing homes in the surrounding Dallas area and Nashville area and we certainly are taking notice of the real estate tax rates and overall comparison of attitudes towards law enforcement support. We are consciously avoiding Nashville/Davidson County and Dallas City proper.

We currently are in Florida and are only looking to move to a more centrally located state because our child is studying on the West coast. Tennessee and Texas are on the list since we know the states and have lived in them previously.

Texas is lucky to have Governor Abbott and Tennessee is lucky to have Governor Lee to support the law enforcement officers in the capital cities, but they can’t do much to affect the real estate taxes being imposed, or the view that lawlessness or liberal policies are being allowed by cities leaders which will have a direct affect on the desirability of the cities.

I moved to Metro about 4+ years ago...

I'm not sure where you are seeing Metro is defunding its police. It is struggling to fill vacancies (so are all the surrounding counties) but the only thing being defunded is CoreCivic as the county is taking over its jail from CoreCivic. "Defunding the police" was such a bad motto. It isn't about cutting cops, it is about having support services, like social workers to help de-esculate mental health crises.

I think you will find property taxes much higher in Dallas. My sisters in Dallas all pay 2% of their home value every year in property tax so a $1m house is 20k in property tax.

[Hey_Hey]

Despite the 33% increase in taxes Nashville still has lower taxes than the other large cities in Tennessee. Real estate taxes in Tennessee (including Nashville) are dirt cheap. It is literally half to a third of what someone would pay in places like Ohio, Texas, California, Connecticut, Michigan, or Illinois. It could potentially show the price growth some because housing budgets are determined by total cost of ownership (mortgage, taxes, insurance). If taxes go up the mortgage oftentimes go down to compensate for it to some degree.

[N.Cal]

Today's business news...


Nashville-area home sales rose 14 percent in November from the mark of the same month in 2019 while inventory and days-on-market numbers continuing to shrink.


The month follows an October and a September that both saw a 17 percent year-over-year increase and an August that enjoyed a solid 6 percent rise from the same month in 2019. The gains have come after June and July recorded modest increases and a May in which sales plummeted 22 percent year over year due to COVID-19 concerns.


In addition, 3,119 sales were pending at the end of November, up from the 2,801 pending deals for the same month in 2019. At the end of October, 3,819 sales were pending, an increase of 22 percent from the same time in 2019.


The average number of days on the market for a single-family home in November was a mere 24. This compares to an October mark of 25 and a September figure of 29. During the April to August span, the average number of days per month was about 32, well below the 40-day figure from January.


“While we see limited inventory in some areas, homes sell faster and at higher prices than ever before,” Greater Nashville Realtors President Kristy Hairston said in the release.