Lakes in East and Central TN (Chattanooga, Franklin: for sale, real estate market, renting)

[JJPCheers]

We are from Tampa, FL in our late thirties with a 10 yr old son. We are looking for a vacation home. So far we are most intersted in Cherokee, Doulas and Center Hill Lake. We like to go out to eat alot and would like to be close to grocery stores, shopping, etc. Any info on these lakes or other lakes and their surrounding areas would be greatly appreciated.

[patraveler]

We have done some of the same type of looking and hope others will share their info. We are older than you and looking to potentially buy some lakefront property, build a house in 5 years or so as a vacation home and retire in something like 10 years.
TN lakes have some lovely spots, a nice climate and access to a wide variety of recreational stuff in addition to many attractions of the lakes themselves.
Douglas seems to have more available and the county seems to be growing. Downside is the fact that the TVA draws down the water level very substantially in the off season. Things are really dry now, so we are told that the level will not vary as much this winter as it is already low. Cherokee does not get drawn down as much, but it does typically get drawn down around 25 feet. Cherokee has more restricted land I have been told, so not as much development is possible. Cherokee seems to have more big gated communities. Morristown - on Cherokee seems to have a mall and so on. Dandridge - on Douglas is smaller, but is a nice little town, and is closer to the resort communities.
I have been told that the real estate market has really slowed down, so it would seem that now is a good time to look. I would be very interested in others impressions of the various lakes and what it is like to live in the area.
And what others impressions are as to how the areas are changing and what others see happening over the next few years.

[moving123]

One of the most beautiful lakes in Tennessee is Tims Ford Lake located near Winchester in Franklin County. You do have to be careful about getting a lot on deep year around water. Winchester is conveniently located to Huntsville, Chattanooga, and Nashville. About an hour from each. As for other amentities, Tullahoma and Winchester offer the necessities for food, doctors, schools, etc as well as most chain restaurants. The mountains are about 30 minutes away. It is absolutely beautiful. If you would like more info, feel free to PM or email me...

[JJPCheers]

PAtraveler, how long have you been looking? I agree that now may be a good time to buy. I found alot of properties that have been reduced as there is so much for sale. I really tossed between Douglas and Cherokee myself. Not that my husband and I are big drinkers, but do you know if Morristown in a no alcohal town? I think that can restrict growth of a town in terms of new restaurants comming to town. I really hope more people will comment on this topic.

[patraveler]

I agree, I hope other people post - just cruising though the forums there is a lot of great info on a wide variety of topics. I picked up the info on Morristown being dry from one of those too, and you have a good point- it does influence things like restaurants and so on.
We have looked casually for a few years. Lake Lure in NC- very pretty - isolated and way, way expensive. Lanier- we have friends there- but it's crowded and a lit too much like an Atlanta suburb . Keowee in SC- very pretty, but not much to do in the area, and prices at least double what we have seen in TN. Are you looking at lots or existing homes?

We are mainly interested in lots for now and looked at a few different locations on Douglas, Inspiration Woods had a few nice lots and a spec house going up and we saw a few others, and on Cherokee we really only looked at Windswept (we were short on time and really just trying to get enough info to see if we wanted to look further). There is a lot on the market, including some large parcels for development. So development is going to continue to happen, but where, at what pace and at what prices are the variables. It looked to me like somebody would develop a piece of property into 20 lots for example- they would sell 15 and 5 are left. There are a couple of houses under construction and they say they expect more in the next few years and that some of the buyers bought for investment purposes and expect to re-sell. So I would expect to see the inventory grow. It is hard to time the market but I would have to think that for the next year or so there will be good opportunities. But would love others observations and opinions....

[JJPCheers]

We are looking for lots or acreage as well. We looked at Windswept and the inside is done very cheaply. Definatly not worth the money compared to other properties we saw. We did the exact opposite and mostly drove around Cherokee and only a little around Douglas. So far no other posts but hopefully someone in the area will help. If not I will make a new thread in a few days or so with a different headline.

[jm1j]

What do you mean "inside" is done cheaply at Windswept? There is only one house there, that is incredible and the owner is asking 1.2 million for it!!! We bought a lot there 2 years ago. We hope to either build there for retirement (we fell in love with the lake and view), or sell later .... we own another home on Lake Tellico in a development that we are renting out right now. We live in CT and need to move cheaper when we retire in another 5 years or so. Please let me know what you didn't like about Windswept ... we looked at all the lake areas mentioned in the threads ... none of them were perfect!!!

[CookevilleWeatherGuy]

I'd check out land and homes around Center Hill Lake...it is BY FAR (in my opinion) much prettier than the others you've listed and Cookeville has TONS of restaurants...not to mention the others around Center Hill. Nashville is a hop, skip, and jump away...