MIDDLE TENNESSEE REAL ESTATE MARKET FEELS IMPACT OF NATIONAL ECONOMIC TRENDS

There were 974 home closings reported for the month of January, down 40.7% from the 1,644 closings reported for the same period last year.

The median price for a single-family home was $165,000 and for a condominium it was also $165,000 compared with median prices of $179,900 and $158,890 respecively at this time last year.

Inventory is currently at 22,509, up slightly from the 21,952 properties available at this time last year. However, all categories were actually down except farm/land/lots.

Click here for a copy of the news release being provided to area media today, which includes comments from GNAR President Mike Nichols. And, you can click here for historical data on the Greater Nashville real estate market.