Nashville Real Estate Market (sales, income, to live)

[GnosticCyn]

I need some advice from agents in the area. I'm moving to the Nashville area this fall. I've been a real estate agent in both Oregon and California and wonder if I should continue in my chosen profession, or look for something else completly when I get to Tennessee.

So, what is the market like out there? Is there work for assistants or other auxillary work? I really would feel uncomfortable representing myself as someone knowledgable about an area that I just moved to, so I'm really not considering sales immediately.

Advise anyone?

[denawilliams]

If you've worked in California in this market, you will probably do fine here. The market is better here than in California, but it has been affected to a degree. I'm sure there are plenty of people looking for experienced assistants. I know assistants are big at my company.

[gbone]

Although Nashville area real estate has not experienced anywhere near the downturn that California has, we are still in the midst of a downturn. Transactions are down almost 30% over prior year and DOM are up about 50%. We are definitely going through a correction, not only in terms of transactions but in terms of number of Realtors. The middle of last year the Greater Nashville Association of Realtors(GNAR) had approximately 4500 members. The current market can probably support no more than half of that number. The GNAR is currently experiencing significant declines in license renewals and new Realtors. Additionally, there are many Realtors who have gotten other jobs but are maintaining their license until the market begins to turn around. I'm not presenting this information trying to discourage you but just to let you know that it may take longer than some new Realtors need to start bringing in enough income to live on.
Good luck with your move.

[Big TR]

I played on a softball team with a bunch of realtors. They had other full time jobs and were doing the realtor thing as a side business waiting out the market downturn.

I would recommend finding another career and trying to do RE on the side.

[GnosticCyn]

Originally Posted by gbone

Although Nashville area real estate has not experienced anywhere near the downturn that California has, we are still in the midst of a downturn. Transactions are down almost 30% over prior year and DOM are up about 50%. We are definitely going through a correction, not only in terms of transactions but in terms of number of Realtors. The middle of last year the Greater Nashville Association of Realtors(GNAR) had approximately 4500 members. The current market can probably support no more than half of that number. The GNAR is currently experiencing significant declines in license renewals and new Realtors. Additionally, there are many Realtors who have gotten other jobs but are maintaining their license until the market begins to turn around. I'm not presenting this information trying to discourage you but just to let you know that it may take longer than some new Realtors need to start bringing in enough income to live on.
Good luck with your move.

Thank you! That is exactly the kind of information I was looking for. I can tell you're a great agent! Keep up the good work.