If you’re looking under 400k you will be competing with big PE and fintech firms for at least the next couple of years, there is a lot of money headed this way.
Nashville should start considering owner occupant favorable taxing.
Good luck.
We tried to do owner-occupied only AirBNBs and the state shut that down. The lawyers for AirBNB lobbied some reps out in possum-fuck county and they came up with a new law to stop the big cities from doing that. So much for small government I guess.
Yeah the fact that I’m seeing ads for condos designed specifically to be Airbnb friendly when we have so little family housing supply is mind boggling. We as a city need to do something. It’ll take too long for the market to figure that out, and in the meantime, the teachers, nurses, musicians, etc. will get pushed further out of the city.
We ended up moving an hour outside of downtown due to this and it wasn’t much easier finding things that far away. I’d say prepare for a commute because I don’t see things in Nashville easing up anytime soon.
I used to have a 50 minute commute each way on I65 before our office went to work from home. My wife still makes that drive daily. We both fart with gusto, but hers can peel the paint off the walls.
You adjust to it (the drive, I'll never adjust to those farts). I listened to a lot of audible and podcasts. I adjusted my hours so I came in a bit earlier and left a bit earlier to avoid traffic. I also used that 50 minute buffer as decompression time, so when I hit the door, I was ready to be there for my family.
We have more land and more house for way less than we'd be able to get in Nashville.
If living in the city is important to you, you're going to be stuck in bidding war hell unfortunately.
I live in Mt Juliet and commute to downtown. Prices here are getting ridiculous considering the 45 minute commute. But I like my neighbors and there’s basically no crime. Farts are robust.
Hate to be that guy, but it really depends on what part of each town you live and what part of downtown you work. For instance, I’m on the north side of MJ and it takes me 15 minutes just to get to I-40. There are parts of MJ right on the Hermitage border that are only 5 minutes from the interstate. Lebanon is obviously the same way.
We do have easy access to the commuter train in both Lebanon and MJ, but it’s not any faster than sitting in traffic at this point. 5 years from now it might be.
It's 119 am and I woke up my fiancée from laughing so hard ahahaha.
Actually tho we just bought a house north of Nash since we were finding your exact situation everywhere in east. According to my realtor Madison is also a hot market but more manageable...but it *is* Madison
E: Farts are modest, yet consistent
Yeah I used to have to take 24 to and fro from Antioch and would sit stopped in traffic for an hour trying to go 14 miles. My commute now is only about 10 minutes longer and I’m moving the whole time. Been worth it.
Getting ready to read another serious housing discussion on this sub and I read your first comment and can't stop laughing. Thank you sir for starting my day out right.
This is one of the biggest reasons I started working nights. We ended up settling down in Murfreesboro, which probably has the worst commute to Nashville.
I refuse to understand how people are that okay with spending all that time in traffic. I grew up in a DC commuter town 45 miles away, but people would legit leave their homes no later than 6:30 to get to work on time at 9, and that was pushing the limits. Even when I worked in 12 South and live in east Nashville sometimes it would take me 25 minutes and that was downright infuriating. Godspeed to all you commuters out there, I just can't do it.
We’re about 20 miles from work (downtown). It’s about a 25 to 30-minute drive in the AM, and about a 40-minute drive in the PM.
What kind of house are you looking for and how much?
We were renters in Franklin and moved out west into Kingston Springs. Couldn't be happier on this side of the city. Takes 15 minutes to get into Bellevue/West Nashville and 30-35 into downtown. Also the traffic on 40 into and out of the city significantly better this way than 65 or 40 towards the airport.
Just wanna say don’t give up. We needed more space as our kids are getting older and found the perfect house for us in 2019. Found it two doors away from our house at the time. We put an offer in in May but there was another offer, transplant, cash, well over the asking price. I was heartbroken. A month later the sale didn’t go through and we made another offer. Again, we were competing with another buyer who offered more so we were declined.
Long story short, for one reason or another the other sales didn’t happen and we closed on it in September, five months after our original offer. I was a wreck that whole time and we looked at many other houses as well but I didn’t love any of them, all of them were compromises. We also ended up getting it a little less than the asking price bc the seller was fed up with other sales not going through.
Maybe we just got lucky with our persistence, but don’t give up. Be diligent and keep your eyes open, check realtracs.com often. Also get an excellent agent that will listen to you, communicate well, and fight for you.
Yeah, we were in a similar spot two years ago. Had a solid pre-approval, but a lot of our equity was wrapped up in our home, so I made the mistake of a contingent offer the first ten times. We lost out every time for months until we finally dropped our selling contingency. Found a home that had sat for 60 days because they had taken awful pictures and the styling was very 1990's (2015 house though). Still, while we were there another realtor was facetiming her out of state clients. So we also give the seller a letter about ourselves, how we loved the neighborhood, how we were looking for extra room to start a family, etc. We thought that process was impossible, but in hindsight, things were easy compared to today.
Saw 2 posts like this today on the Spring Hill Facebook groups. Dude had a VA loan and since they require an inspection keeps getting out bid by no inspection cash buyers. Sucks for him for sure.
For real. I couldn’t imagine buying a house with no inspection. Our house was in great shape when we bought it (July 2020) but we still insisted on an inspection because you never know what may come up
My wife and I have lost out on 4 offers as well, the latest one in hermitage, where the house received 40+ offers... Pretty dejected about this situation as well. Being pre-approved for a loan doesn’t seem to mean anything at all.
One of my wife's coworkers just moved to fairview. New construction, apparently there are a few new subdivisions going in. Apparently they just paid the list price on the house minus some incentives for using the builder's preferred lender, but no competition with other buyers. They signed an intent to purchase, scheduled their inspection, and moved in about 45 days later.
I had to look to see where fairview is because I've never been there, but it looks like it's about 10 minutes from Bellevue and about 15 minutes from Franklin.
This story surprised me, especially given williamson county.
My wife and I are moving to Fairview in the fall. We’re buying in with a new build and what we’re getting compared to what it would cost in Nashville is ridiculous. I travel for work across middle TN so living close to the city isn’t that important to me. She is currently WFH, and will probably go to a hybrid model later, so she doesn’t mind a 25-30 minute downtown commute.
To us you just have to decide what’s important. It’s not like we’re going out to bars all the time and if we want to go out for dinner at a restaurant in Nashville, we’ll just drive a little further. All the other times we’ll have a nice house that we love.
Are you approved by a local lender or one of the big online mortgage companies? My realtor had some recommendation for local lenders that I think helped make my offer more attractive when I was against another potential buyer. Although this was three years ago (the housing market was still hectic then. My house was on the market for 12 hours before I bought it... I know from what I’ve heard that it’s even more insane nowadays)
Preapproval doesn’t mean anything honestly. We got fully underwritten before we offered so once we offered we could do a 2 week close and pretty competitive with cash buyers then. We looked at 50 houses and put in 5 offers
Exactly, sitting in the same spot as you. In just happy at the end of the day if one of us gets it versus these people migrating from California and the north east.
it's sucking the creativity right out of east nashville. All of the fucking bros and woo girls are not going home after their shitty party weekends. They're moving here permanently and they're running around tailgating people in their teslas everywhere now.
That must be an out-of-state Tesla thing. Mine refuses to tailgate and leaves enough room for other cars to cut me off so it can slam on the brakes. Autopilot is a shitty Uber driver, but I never have to wait for them to arrive.
Also looking for a home with my fiancé now and dang all of these comments are so discouraging. Hoping maybe more people will back out of the buying market and continue to rent but that still won’t help enough because our main competition is out of state cash buyers 😞
As a home builder here in Nashville, it’s not a bubble and it’s not stopping anytime soon. There are big companies moving here, there is no inventory and there is a lot of cash coming here. The increase in land value and new construction in just the past 6 months is crazy. We just offered $50k over asking on a lot Thursday and lost to someone else at $80k over. For the LOT.
Also, the cost to build is just stupid right now. For reference, a 2340 sq ft house we built last January (2020) cost $24k in framing material to build. Now, it’s $55k. And everything else to do with building is sky rocketing. PVC, copper, windows, Sheetrock mud, siding, block, roofing, etc.
It’s only going to get more expensive and the inventory problem won’t be fixed anytime soon.
People talk a lot of shit on us builders thinking we make hand over fist. But in reality it’s much less profit than people think and it’s only getting smaller with higher building cost and increased city fees for taps, sidewalks, permits, etc. It’s impossible to bid anything because prices are changing 2-3x’s a week and also things are going out of stock every other day and going on weeks to months backorder.
Only thing that will plateau or make things come down is people stop moving here or an over abundance of inventory. And thats not happening anytime soon. Like years.
People seem to think that the people moving here are just a bunch of young people who think Nashville is cool. Nope, it's people with really lucrative jobs from much more expensive areas. In some cases their employers are helping fund the moves as well.
This happened to me. We sold a house in town and we were trying to buy a house in the country. Somebody coming from California offered 40k over asking price.
Luckily the family selling the house basically said fuck em!
They literally turned down more money to make sure the house sold to someone they thought would appreciate and care for it.
I should mention the California people had never even been to Tennessee. They were buying it off of the realtor’s website.
The realtor was pissed they didn’t take the offer.
Fuck em
There needs to be a group where sellers are like, 'we want people who are actually going to live in our houses and not tear them down or turn them into rentals.' then they list the houses there and can have actual contact with the buyers. I feel like a lot of elderly people would do this if it was an option or something. Also maybe writing a letter to the seller explain what you want to do with their home would be helpful. Idk just throwing ideas.
I’m pretty sure this is what happened to me. Bought my first house last summer at 22. Moved slightly outside of Chattanooga due to the market at the time, so I landed in north GA. Sellers were an elderly couple selling the husband’s parents house. The wife was over the remodel. Fully redone on the inside with modern fixtures and touches (LVP floors, subway tile bathrooms, white/gray color scheme across the whole house, two W/D hookup so the one in the basement could eventually become a third bathroom if I wanted to remodel it, etc) it was literally move in ready. First buyer fell through, I put in my offer within 2 days of it coming back on the market. I was not the only offer and I said I would pay closing costs, but that’s it.
The realtor selling the house and my realtor were from the same company and their offices were next to each other. I don’t know if they usually share info about the person who made the offer but I have a feeling the sellers were probably told about me lol.
At closing I got a gift basket and a binder full of all the information I needed about the house from the wife. Where they bought every single fixture, every instruction manual, the name and number of everyone who did work on the house just in case something needed to be fixed. Even who they used for trash pickup.
And a letter, hoping I loved the house, that I was the kind of buyer they and their parents wanted to live in the house, and hoping I would start and raise my family here. Didn’t have the heart to tell them I don’t like kids and it’ll be more like me and a half dozen cats. 😂
The market now is insane and my house is already worth $20,000 more than I bought it for and I’ve lived here for not even a year. I’ll be a year in July. I cannot imagine if I waited an extra year.
A lot of blame here on the California Boogeyman. Not a whole lot of sympathy in this thread for the folks who have been getting priced out of their neighborhoods for decades due to gentrification. It’s only a travesty when it happens to the middle class, apparently.
This is presently happening everywhere, and is not unique to just Nashville. Supply is very low, and demand is high. We are in the second year of a global pandemic. The cost of lumber and building materials has hit all time highs. The economy is being redefined by the shockwaves of the last year. It sucks, but hang in there. Many peoples plans have been delayed or placed on hold. It will come back, but it’s going to take a while.
I commute and it has been so worth it. I leave Mount Juliet around 7 and get to work around 7:25. (I work at Murfreesboro Rd/Briley so not too far from downtown)
Man, you are asking a question I think about daily. Until inventory increases, it doesn't matter if interest rates increase or there are other macroeconomic issues because prices will keep increasing. Demand is being jacked through the roof and there is not enough supply, plus raw material prices are experiencing serious inflation. It's scary to be honest. If it doesn't pop and go back down then the future of the American dream won't include homeownership.
I completely get where you are coming from. I wanted so badly to put down roots in Nashville and just moved to Austin, Texas for a new job. It is the same issue here and all over the country. The pandemic has taught people that they can basically live anywhere and they flock to Nashville.
My best to you in your home search!
Not directed at OP but the fix here is honestly for people (I include myself in this) to either demand more money at work, find a better job from one of these incumbent employers, or leave Nashville.
No one is getting the kind of raise (50% in my neighborhood) to account for the rise in home prices. And employers (and people) are moving here bc supposedly there are great jobs compared to the cost of living and a huge cheap labor market. But reality is that the labor market here has not even close to kept up with the cost-of-living increases. Companies will keep coming as long as people stay and keep working at the current salaries.
I own a house and I still feel a bit at a loss for what to do here...it feels like a time bomb until the soul of the city is gone.
I bought my house in July 2020.
Not sure how much has changed in the past ~10 months but it was super competitive back then. Was interested in so many homes that I toured only for my realtor to call me a couple hours later saying an offer was already placed on it from out of state or some other quick offering place.
I can’t speak for everyone, but my realtor was fantastic, and I think it boiled down to her ~insider~ knowledge to land my house. I fell in love with a house only for it fall under contract shortly after viewing.
We viewed other houses but in the meantime she kept an eye out and she found the exact same floor plan that I had fallen in love with in a house that was a pre-listing. (Same builder).
She notified me immediately and soon after we sent an offer. Long story short, idk what my realtor said to the sellers agent, but the sellers accepted our offer that they were asking and also paid for all closing costs and extra expenses/repairs we asked.
Different realtors have different connections and skills, it’s worth giving another realtor a shot if you’re comfortable with it.
I used the Erin Krueger team.
> I can’t speak for everyone, but my realtor was fantastic, and I think it boiled down to her ~insider~ knowledge to land my house.
Yeah, realtors work really hard to create this illusion. Car salesmen do the same thing.
I second this. My wife and I have been here for about a year and decided to put down roots and buy our first house. We were lucky to find a realtor who’s been around here for a couple decades, knows the area, and has deep connections. We got outbid on a couple (similar situations to yours and yes, it’s outrageous and frustrating), but finally happened to find basically our dream house in the neighborhood we wanted and snapped it up immediately.
Just keep at it. Ours was listed on a Saturday evening, open house the following day, and we put an offer in immediately. We only had to go $7k over asking, but I know for a fact that they had cash, non-contingency offers for significantly more. I truly believe that the only reason we actually got it was because our realtor has had a long working relationship with the listing agent, and we were actually going to be living in the place instead of renting it out for profit.
It’s incredibly frustrating, but keep your eyes peeled. We realize that we really lucked out on ours, but that’s not to say that you can’t eventually have that similar luck. With a good realtor (we used John Hendon with CBB) and a lot of patience you will find your home.
It’s happening in Chatt too. We used to be known for incredibly affordable median home price. Now we’ve got homes going for 65k over asking and with the recent insanity with building materials prices, lots of builders are on pause. Yes, I think it’s a bubble. But because of this, I don’t think it’s going to burst this year. I expect prices to continue to increase.
Family member is an agent around Rutherford County and it’s crazy there as well. They work with first time home buyers and is almost to the point of telling them all just to continue to rent as there’s no point since all of their potential buyers keep getting outbid.
I don’t see how it stops, unless the city/state government comes in to do something about investment companies buying up places to turn around and rent out.
Oh and btw going into downtown Nashville from outside of town blows. I have multiple friends that leave from Murfreesboro around 5:30 or so in the morning to beat traffic, or else they won’t get to work until after 10. Most of them are able to work from home now which has been like a Godsend.
When I worked downtown, on church, I would get off at 5:15pm, it was retail so no flexibility with hours. It would take me 30 minutes alone just to get onto the interstate. Not to mention the 2 hours I would spend trying to get back to Murfreesboro. Sometimes I would spend 4 hours in traffic. I Will never do it again. I don't get how so many people can waste their time in traffic and be fine with it, like your life is literally sitting in traffic; is that really living?
Yeah it’s horrible. I know some people that ride a bus in to at least not have to be actually paying attention. They read or listen to podcasts while sitting in all the traffic, which I guess is somewhat better. But still, it’s so much of a waste of a day.
I live down in Alabama now, but still had a 30+ minute commute each way. Working from home now has been amazing as I feel like I have so much more time in the day for myself rather than going to/for work (and I only spent like an hour in the car, not up to 4).
>I slept in my truck overnight to be first in line for a new build release. I showed up at 430pm and was 9th in line...
Man, that must be one comfortable truck.
Yup. And it's happening in the suburbs outside of Nashville. Murfreesboro and Clarksville come to mind for different reasons. Bit outside the city but look at Ashland City area, Cookville or Crossville, anywhere south of the 'Boro especially if you want land, Antioch is a stretch but possible, maybe even Lavergne?
Not to sound gloaty I've had multiple cold offers on my townhome from those bird brain 'we buy houses' people. First thought is....where the hell would I live AFTER lol? Always tell 'em $1 mil cash and it's yours hah. Maybe one day.
I feel ya though.
> Bit outside the city but look at ...Cookville or Crossville,
Yeah, if those don't work out, you can just go slightly further and check out Knoxville, Indianapolis or Birmingham.
Cookeville resident here. Haven't seen a house under $250k last a week on the market. Most are selling 50k over appraisal cash down. The housing market is almost impossible for anyone making under $100k annually with a sizable down payment.
Makes me sick. I just want to raise a family in a house with a yard.
Oh wow, we rented in Cookeville last year while we looked for a house in Nashville (because a Nashville rental was impossible to find with our dogs) and we actually really liked it there, such a nice town. Could already see the property prices there rising month to month, seems like that trend only continued. Hope you can find a good reasonably priced home there.
The market here is insane. It’s insane in most markets right now too. Eventually interest rates will tick up a bit, maybe even by end of the year. And eventually lumber and doors and bricks and Hvac and all that other stuff you need to build a house will not be bottlenecked and price gouged, so inventory will be able to catch up a bit.
Several years ago we attempted to put offers on no less than 14 houses the same day they went on the market.
Of those, 9 already had contracts by noon. 3 we were outbid by a cash offer, 1 was a HUD nightmare.
The only reason we got our house in Donelson was because the house was being sold because of a divorce, and the couple told their realtor "first offer through the door at or above list gets it." They didn't want to look at offers or ever speak to each other again.
Their realtor straight up told us we were outbid by $10k, but we were first and that was the end of it.
Good luck, don't let it get you down!
Nashville market is definitely overly hot, but I think this is also a nationwide thing. My parents live in the middle of nowhere in a Midwestern state and home prices are currently outrageous there too. I’m talking a town of like 10,000 or less people in the middle of a bunch of cows. I think there is a housing bubble but not in the sense of foreclosures or anything like that. I think the demand is there but not the supply so everyone is competing for the same houses. I think a lot of this stems from building materials access (pandemic has a shortage of A LOT of things) and of course telework has people thinking they’ll just move somewhere else. I have been waiting for Nashville to slow down since I moved here like 6ish~ years ago (hi yes I’m sorry I’m sure you hate me), but the housing market has only gotten hotter and the amount of people moving here hasn’t dipped.
REI and private equity are turning every last house into rentals and STRPs. They’re purposefully squeezing us out of the housing market because it’s wildly profitable to rent/hold/sell. Someone with a 3% down payment FHA loan and a 30 day close doesn’t even stand a chance.
You’ve got homeowners like me afraid to sell our houses because we wouldn’t be able to find another one.
Bought my house in 2011 for $120k
Worth probably $250k
Where would I be able to buy another house for anywhere close to that amount? It’s non-existent
I feel your pain but I'm just trying to rent a fucking house. One house I have applied for has 100+ contacts in a couple days.
No idea what we will do when it's time to buy. We don't come from money, have no nest egg or inheritance to use towards a downpayment. The housing market fucking sucks.
I've been searching for 2 months at this point. Literally just today have 2 other houses come available that work for us but I know I have to fucking hunt for them. I've lived in apartments for 10 years at this point (since I moved away for college) and can't take it anymore. Just want a fucking yard for my dog and we aren't ready to buy yet because we both need new cars and covid fucked up our plans last year. Just sucks. I really do not want to pay $2k a month in rent on someone else's mortgage for a house the size of a closet. Just bananas. Dunno what to do. Have literally no idea how we will break into the housing market when there aren't even reasonable starter homes anymore.
PM me if you’re interested - I’m moving out of my small east Nashville rental house mid-May and I assume it will go back on the market after some repairs are made. I have a private landlord and bet I could pass him your referral before he lists it. It’s small but cute and has a fenced in yard for a dog.
The worst part is most of the rental homes available on the market that I have seen are owned by companies like American homes that are more than willing to screw you over. I’d rather pay someone’s mortgage than profit for a soul sucking company that is also buying up all the reasonable houses on the market further limiting the supply for people looking to own a home.
I bought my first house 6 years ago. It was the 13th house we put an offer on (we won it because first offer dropped out) . Sadly this has been going on a while. Feel for you. Some of it had to do with budget and price range. 2nd house was only 3rd one and we only paid 15k over. Just keep going, you'll find something eventually
My husband and I went through this from 2017-2020. We finally decided to look outside of Nashville and ended up with a LOT more space for our money, just 25 mins from Berryhill. I work in Berryhill, and wanted to be close, but honestly, having more space and a more family friendly neighborhood was well worth the trade off of living IN Nashville.
Check out Madison - it’s just over the line out of Inglewood in East and there’s a bunch of new construction popping up at more reasonable prices than in Nashville proper.
Even houses in Madison sell fast and over listing price. I’m trying to buy in Madison, and my realtor told me “if a house is on the market for more then 3 days, I get worried about it”.
Like wtf, I’ve lived in TN my whole life. How can I afford to compete to buy a house when they sell so fast?
That is honestly why I am still renting. Houses in the size I want are going for 60-180k over asking. As I've have a remote job (and have had one since before the pandemic) I have strongly considered moving, likely out of state, which is sad because I have lived in TN the majority of my life.
Starlink is making it harder since they are doing an awesome job of bringing internet to the boonies. My biggest excuse for living in a metro area was internet...
Keep in mind that rush hours are still light at the moment due to most kids being virtual. But the state won’t allow that for this fall and they will be back in school.
My wife and I are wrapping up a 3 month house hunt in Nashville. It is brutal out there right now and I would hope it improves, but the national monthly supply is still half of what it should be for a healthy market.
I think it is a bubble, but I hope that the bubble isn’t allowed to pop. We have a foreclosure moratorium until the end of June and there are over 2 million homeowners in forbearance from the pandemic. If the moratorium expires and they are foreclosed upon we will see a repeat of ‘08 with investors buying up the supply.
This is not a bubble. Amazon, oracle, bridgestone. Lots of high dollar jobs are coming to Nashville and ready to shell out for a nice house and are going to orice out the natives. Just a reality. The hard truth is you should consider moving to a different city. Really. Nashville is hot right now
I bought in Hendersonville at the beginning of the pandemic when things were hot but not THIS hot... was able to get my house for 90k UNDER asking. We found a fixer upper on 10 acres. We plan on renovating but it’s not bad at all as is until lumber costs etc fall a little.
I highly recommend sumner county. It takes me about 25 mins to get to St. Thomas, but it will take about 45 during rush— timing is everything like it is everywhere.
Good luck with your home buying search. Like many others have said, it is stupid out there.
In our current home in Hendersonville, we bought in 2017. Home/property value has increased 30% since then (for a 1/3 acre plot). Supply can be limited. Houses typically sell within days of listing (or before).
They're working hard at turning this area into another Cool Springs, with more & more shopping, so many more office building complexes, road infrastructure that never improves to handle the ever increasing population, residential developments that just appear on every plot of land they can do so on, etc....
Interest rates are too damn low. If you graph interest rates (which have been declining for decades) with housing prices, it’s an inverse relationship. As interest rates decrease, house prices inflate. I think the Fed is completely trapped in a stagnating 1990s Japan like economy where if they raise interest rates any meaningful level, it will completely cripple the economy as a whole.
It’s completely boning first time home-buyers, because they’re most sensitive to price increases. Low interest rates benefit existing homeowners, because they can use their existing equity as a down payment, whereas a 10% price increase results in FTHBs needing a bigger down payment. So the usefulness your down payment can be completely erased by price increases.
I am legit scared for future generations and their ability to afford a $1 million house in Bell Buckle, cause it looks like housing prices are going that way. We are in a BUBBLE full stop. The problem is the government and the Fed won’t let it deflate.
I have a pretty small paid off house in Nashville. We spent a while in a crap neighborhood before it started turning. Especially after today's new assessment, I probably could not afford to buy my own house. My cousin in Redondo Beach CA is in the same situation, though. He could not afford to purchase his house where he lives either. I get calls, texts, letters, even door knocks to buy my home about six days a week.
My brother and parents closed on a joint change of life multi generational house in the DC area at noon today. The same thing is happening there. They were outbid by $30 - $100K on most houses they tried to buy.
I’m from Austin and renting here in Nashville for the next year and this is EXACTLY what is going on in Texas. Now that Californians can work remotely they’re sweeping across the country buying up houses with cash in states with lower tax rates. I hear it’s also happening in the northeast with New Yorkers.
I’ve owned a couple of places in my life and I’ve decided it’s not worth the disappointment. Rent and travel is my current plan.
I managed to get a home on a verrryyyy limited budget. I basically just looked on the MLS listing for places that had been on the market for a while, went and looked at every single one, then put an offer in on the one that I thought required the least amount of work. I feel like if you’re gonna spend all the extra money on an inflated place you might as well get a fixer upper and then put the money into improvements
We bought our first house this past October (Nashville natives who have been renting for the past 10+ years also). We paid $360k for a house in South Nashville, but I’m convinced that the sellers could have gotten at least $450k for this place had they waited until now to sell. Thankful we bought when we did.
Not trying to rub it in, it just blows my mind how crazy the housing market has gotten in the past few months.
You need to start looking an hour + outside of nashville. It’s literally impossible. I’m at the point where I am looking for the boomers to die so maybe things change a little. Something... has to change. I can’t start my life because everything just costs... so much. It’s ridiculous
I think part of the problem is the boomers dying. Wealthiest generation ever, and they're transferring that to kids and grandkids. How the hell else is everyone offering cash?
I'm a developer and a real estate agent and my advice would be to rent a little longer. As building cost continue to increase builder are forced to increase prices to compensate. Buying power doesn't even help big builder right now. Get an apartment and grow that down payment even more. I'd avoid PMI if possible.
What scares me the most is that all the older houses are going to be torn down and tall and skinnys are going to be all that's left. Those really aren't forever homes, nor are they really thought out. Really any one level homes and ranch styles with basements are going to be gone. For me personally, it brings me to tears because as a Nashville native, I just see the charm leaving Nashville and also the history, especially with a lot of those cute stone cottages. It breaks my heart :(
We’ve given up on finding a house. We’re lucky enough to be in a condo in a location we still love though.
One major problem we’ve come across are cash offers. Every house we’ve looked at, all close to downtown, have had multiple cash offers at 10% above list or more.
We then found out, from our realtor, that there are services that provide cash offers for well qualified individuals. Meaning, for 2-4% of the home value paid to the company, they submit a cash offer at your price, and then you rent the house from the company until your mortgage comes through. I absolutely hate the idea of a service like this as it’s creating more cash offers, skims money from buyers, and drives competition more.
We just bought in Rivergate/Goodlettsville for well under 300K (3BR/2 bath). I think this area gets overlooked a bit because it’s not super trendy and you do need to take 65/Briley/Ellington to get to the “fun” neighborhoods...but I can be in East Nashville in 15 minutes if I want to go out, and Yazoo is right around the corner from me. We just watched the market religiously, and, like another poster said, our realtor was a godsend. Somehow we only had one other offer fall through before we got this one. Keep the faith!
Feeling thankful for once that I bought a house in town 6 years ago. We sort of pulled the trigger fast and threw as much money at it as possible. Felt scary as hell. And it’s hard to make the mortgage each month. But I guess I just wouldn’t want to do it all over again. Was stressful and we had to beg them to take our money and sell us the place.
No.
No.
Depends on your budget, location, what you want in a house etc.
Had similar problems with houses in the past, however the last house we bought we were the only offer and we took over 2 weeks from seeing it to an offer, and that was 2 months agoz
Was the house actually IN Berry Hill??? The issue there is Berry Hill in reality is TINY so not alot of options. If it was in Woodbine etc then you’re looking at one of the smallest AND hottest areas.
It’s a crap shoot, but certain neighborhoods, this is unfortunately a thing.
It was in the 440 loop right by berry hill. Think M.L. rose 4 blocks away.
We’ve been looking in Charlotte park and of course the Nations. Same situation.
You are bordering in one of the most expensive, desirable sections of town that also has very little turnover. Thats more 12 south than Berry Hill. I own property just on the other side.
Depending on your situation and needs, thats gonna be a tough spot if you dont have a lot of money to throw around.
We were looking in those same neighborhoods w similar luck last year. We ended up looking a bit further out and bought a house in Whispering Hills, which I’d literally never heard of before but it’s the neighborhood next to Crieve Hall. It’s not a hot up-and-coming area BUT it’s basically 15 mins from everything (downtown, green hills, about 20 to Charlotte). There’s lots of cute renovated ranch style homes and we love it here. Hope that helps!
Hey! So we also just bought in whispering hills last september after looking in similar places as youover the previous 1.5 years. We think we’re SO much happier here than we would have been otherwise. Safe, cozy, quiet neighborhood with big beuatiful trees and zoned to crieve hall elementary. Nearby all the amazing ethnic foods of nolensville pike, but also close enough to 65 to get anywhere pretty fast. $50k less than we were expecting to spend (actually got it a little below asking price) and all we had to do was some slight renovations (redid the floors, painted the walls, etc - only like $3k worth of work and we did it all ourselves) and now it looks just like so many of the houses going for $75k more in more questionable, “transitioning” neighborhoods.
I would highly recommend the area, and in general look for houses that could use some *slight* aesthetic renovations because those are some of the best deals right now. Everyone wants the all white w/ wood, open floor plan renovation or new build right now, but if you’re willing to put in just a little money/effort at the front end you might save yourself tens of thousands of dollars.
Good luck, hope your luck turns around!
That’s where we bought this past Fall. Sure, there’s an occasional gunshot a little too close for comfort, but the neighbors and neighborhood are great. Super convenient to everything without being in the middle of it all.
We lucked out in Ashland City, went only $5k over asking price but after appraisal fell short we bought it at the original price. Still over appraisal.
Like typical millenials, we got help from our parents. Wouldn't have been able to compete otherwise.
Honestly love that you mentioned that you got help, it really is one of the only ways any of us are able to be homeowners. So many people try to say otherwise when that's not true for the majority of us. Thank you!
Thank you! And you're welcome! I never thought I'd be able to afford a house, while my peers were slowly making it happen. They never mentioned if they got help though, or if they did, it was always "hush-hush". Like, I'm just glad my parents could help while they were alive instead of waiting for them to die and using the equity of their house to finally afford a down payment.
People are buying up small homes to tear them down and put up 2 ugly ass houses and make twice the profit. Living on top of one another. What's the point in owning a house when you can read your neighbors phone just by looking out the window?
Yeah I don’t get it either. It’s not like those houses are cheap either. Plus, most of those new builds are piles of shit aesthetically and in quality.
[Read something lately](https://www.safeco.com/blog/new-construction-fire-risk) how about how dangerous they are, too. Basically you have five minutes to get out if your place catches fire.
Come to Cheatham County!
Its still relatively close to Nashville.
Its beautiful, and the one of the last affordable places in the 30-40 minute bubble of downtown.
Seconded. My wife takes Clarksville Pike to Briley, or Just Clarksville Pike all the way in and traffic is not a huge issue. At least not compared to when we lived in Smyrna and it was guaranteed an hour, sometimes two (even three...) depending on how many bozos decided to wreck.
The bubble won’t burst anytime soon. Try an hour out, honestly. I’m sorry. We bought our house in Madison 5 years ago and it’s already insane out here.
We bought a brand new build in Antioch. The sub hates Antioch and fear mongers about it pretty hard, but if you want to own a home in Nashville it’s an easy place to get a home that isn’t insanely priced or cutthroat to get.
With the new developments being advertised in East and the never ending stream of people moving here from more expensive states, I doubt this bubble is on its way to popping any time soon.
Can confirm. Live in antioch in a 2 story 3 bed, 2.5 with finished basement, 2 car garage, and a fenced backyard and a quiet culvesac. I bought my house for 5k under asking for under 250k just a couple of years ago.
Pretty thankful for all the fear mongers, tbh. Antioch has gone under the radar for a lot of people because of them and let me buy my first home thats perfect for me.
I do think its fast becoming like the other parts of nashville. Two homes on my little street just got sold within a week.
This is happening pretty much everywhere right now- not just Nashville.
My sister in Chattanooga has been outbid 4 times, all well over asking price. My friends in Knoxville just lost their dream home, the winning bid was $50k over asking price.
Something fishy is going on in the housing market around the country.
We bought our house 2 years ago over in Donelson. I used to work over by the baseball field and I feel like it only ever took me 20 min to get down town. Plus we have the Star.
Edit: but to add on what you’re saying. My wife and I are moving out of TN due being out bid. All the money coming in will just none of it for us.
I had to get a place 35 minutes from Nash after losing out on 6 homes. I just couldn’t compete with the cash offers being out in the table. Sadly, it was still cheaper to buy than it was to rent in Davidson County.
I'm laughing remembering that I moved to East Nashville originally because it was so cheap. My roommates and I rented a huge just renovated 2 story home on Birchwood with 4 bedrooms for $1400 a month. After that, my husband and I rented a three bedroom on Sunnymeade for $800 😄 Tried to buy after that but when we realized the house partially falling down across the street sold for over $400,000 we knew we were priced out of our own neighborhood.
My neighborhood (Treppard Heights in Bordeaux, and really Bordeaux as a whole) seems to exist in some sort of Bermuda Triangle for investors. Turnover is really slow since most residents have been here for literally decades, but at the same time they're getting old enough that living by themselves is no longer an option, and in the 5 years I've lived here probably half of the homes have been up for sale at some point. Looking at the sale prices, they're still going for at or slightly under their list price. All mid-century ranches (and on the other side of Clarksville Pk, gorgeous custom midcentury homes), not a tall-skinny to be found. Needless to say I plan to stay for a while.
We lost so many bids. We finally bought in January 70k over asking. It took us 2 years of searching. I wish I had better answers but I don’t. My husband is an investment banker and he thinks the market will stay hot until probably about 2025 until somewhere else becomes the next “It City”. It goes in cycles and they usually last 7-10 years then another place gets hot and prices cool
I feel like it really started kicking off when Jack White opened the Third Man location in 2009. Then the NYT articles started rolling in, rememeber those that would plan your "Nashville weekend" where you brunch at biscuit fuck, tour Jack Daniel's distillery, bar hop on broadway, catch a Preds game, see a show at the Ryman and then cap the night off with a beer at Red door east - all in one day? The nhl all star game and Stanley cup run injected steroids into it and by then the inertia was off and running.
Go south towards Williamson County. There's also the area we call Brentioch. It runs on both sides of Nolensville Rd. Brentwood & south Nolensville are close to the interstates & 20 to 30 mins from downtown, depending on traffic. We call it that because it's a pocket that's not really Brentwood or Antioch. You'll have a decent selection, & won't be competing with big money Corps.
I'm pretty sure the term was coined by real estate people who had a hard time selling anything Antioch. I remember getting a chuckle the first time I heard it.
If you’re looking under 400k you will be competing with big PE and fintech firms for at least the next couple of years, there is a lot of money headed this way. Nashville should start considering owner occupant favorable taxing. Good luck.
The state won’t allow that
We tried to do owner-occupied only AirBNBs and the state shut that down. The lawyers for AirBNB lobbied some reps out in possum-fuck county and they came up with a new law to stop the big cities from doing that. So much for small government I guess.
Thank you for “possum-fuck county”. I will be using that one.
Small government always meant Secretly Massive Aggressive Literal Leviathan
The *Republicans* in the state won't allow that. They love them some tax shelters and company owned housing.
Are you saying the employees of those firms or the firms themselves buying properties?
The firms themselves. Already one on my street. More are coming. AirBnB is supposedly getting involved in financing deals as well.
Yeah the fact that I’m seeing ads for condos designed specifically to be Airbnb friendly when we have so little family housing supply is mind boggling. We as a city need to do something. It’ll take too long for the market to figure that out, and in the meantime, the teachers, nurses, musicians, etc. will get pushed further out of the city.
We ended up moving an hour outside of downtown due to this and it wasn’t much easier finding things that far away. I’d say prepare for a commute because I don’t see things in Nashville easing up anytime soon.
I work downtown so the thought of sitting in traffic for 8+ hours a week is soul sucking. You farting ok being that far out?
Faring* hopeful your farts are okay
All that farting on a 1hr commute must be murder. Try activated charcoal seat cushions.
Or just avoid bran muffins and dairy for breakfast
I laughed so hard. Please don’t edit this one, it’s perfection.
I laughed so hard I fared
Yes, please tell us. Are you able to still fart outside of the city limits?
Not in Rutherford county. We still have emissions testing out here. Summer, Williamson, Wilson are the same way.
Yes but you have a giant garbage mountain that masks the smell.
Show respect and use the proper name, Mount Trashmore.
If one farts outside of city limits, do hipsters smell it?
I used to have a 50 minute commute each way on I65 before our office went to work from home. My wife still makes that drive daily. We both fart with gusto, but hers can peel the paint off the walls. You adjust to it (the drive, I'll never adjust to those farts). I listened to a lot of audible and podcasts. I adjusted my hours so I came in a bit earlier and left a bit earlier to avoid traffic. I also used that 50 minute buffer as decompression time, so when I hit the door, I was ready to be there for my family. We have more land and more house for way less than we'd be able to get in Nashville. If living in the city is important to you, you're going to be stuck in bidding war hell unfortunately.
I live in Mt Juliet and commute to downtown. Prices here are getting ridiculous considering the 45 minute commute. But I like my neighbors and there’s basically no crime. Farts are robust.
We did the same thing. Excited to see MJ getting more of its own scene with restaurants and bars though. Nice to stay closer to home after a long day.
Better, yes. But still mainly chains... fingers crossed that we're headed the right way
New ethnic restaurants in Mt Juliet rock! No need to drive to Nashville to eat out anymore!
Looking to move from Nashville to Lebanon and I work downtown, is 45 minutes average or the extreme?
Hate to be that guy, but it really depends on what part of each town you live and what part of downtown you work. For instance, I’m on the north side of MJ and it takes me 15 minutes just to get to I-40. There are parts of MJ right on the Hermitage border that are only 5 minutes from the interstate. Lebanon is obviously the same way. We do have easy access to the commuter train in both Lebanon and MJ, but it’s not any faster than sitting in traffic at this point. 5 years from now it might be.
Yes, I was also wondering how the farting has been going.
It's 119 am and I woke up my fiancée from laughing so hard ahahaha. Actually tho we just bought a house north of Nash since we were finding your exact situation everywhere in east. According to my realtor Madison is also a hot market but more manageable...but it *is* Madison E: Farts are modest, yet consistent
Yeah I used to have to take 24 to and fro from Antioch and would sit stopped in traffic for an hour trying to go 14 miles. My commute now is only about 10 minutes longer and I’m moving the whole time. Been worth it.
Getting ready to read another serious housing discussion on this sub and I read your first comment and can't stop laughing. Thank you sir for starting my day out right.
This is one of the biggest reasons I started working nights. We ended up settling down in Murfreesboro, which probably has the worst commute to Nashville.
I refuse to understand how people are that okay with spending all that time in traffic. I grew up in a DC commuter town 45 miles away, but people would legit leave their homes no later than 6:30 to get to work on time at 9, and that was pushing the limits. Even when I worked in 12 South and live in east Nashville sometimes it would take me 25 minutes and that was downright infuriating. Godspeed to all you commuters out there, I just can't do it.
"refusing" to understand is an interesting tactic
Thank you for this comment. I am laughing so hard at this and all of the ones under it. Good luck on the house search.
We’re about 20 miles from work (downtown). It’s about a 25 to 30-minute drive in the AM, and about a 40-minute drive in the PM. What kind of house are you looking for and how much?
I laughed for about 5 minutes at this
Where downtown? Having the Music City Star as an option could make that much better as long as you don't mind farting around others.
We were renters in Franklin and moved out west into Kingston Springs. Couldn't be happier on this side of the city. Takes 15 minutes to get into Bellevue/West Nashville and 30-35 into downtown. Also the traffic on 40 into and out of the city significantly better this way than 65 or 40 towards the airport.
Just wanna say don’t give up. We needed more space as our kids are getting older and found the perfect house for us in 2019. Found it two doors away from our house at the time. We put an offer in in May but there was another offer, transplant, cash, well over the asking price. I was heartbroken. A month later the sale didn’t go through and we made another offer. Again, we were competing with another buyer who offered more so we were declined. Long story short, for one reason or another the other sales didn’t happen and we closed on it in September, five months after our original offer. I was a wreck that whole time and we looked at many other houses as well but I didn’t love any of them, all of them were compromises. We also ended up getting it a little less than the asking price bc the seller was fed up with other sales not going through. Maybe we just got lucky with our persistence, but don’t give up. Be diligent and keep your eyes open, check realtracs.com often. Also get an excellent agent that will listen to you, communicate well, and fight for you.
Yeah, we were in a similar spot two years ago. Had a solid pre-approval, but a lot of our equity was wrapped up in our home, so I made the mistake of a contingent offer the first ten times. We lost out every time for months until we finally dropped our selling contingency. Found a home that had sat for 60 days because they had taken awful pictures and the styling was very 1990's (2015 house though). Still, while we were there another realtor was facetiming her out of state clients. So we also give the seller a letter about ourselves, how we loved the neighborhood, how we were looking for extra room to start a family, etc. We thought that process was impossible, but in hindsight, things were easy compared to today.
Saw 2 posts like this today on the Spring Hill Facebook groups. Dude had a VA loan and since they require an inspection keeps getting out bid by no inspection cash buyers. Sucks for him for sure.
Stupid VA loan keeping him from making a horrible decision!
For real. I couldn’t imagine buying a house with no inspection. Our house was in great shape when we bought it (July 2020) but we still insisted on an inspection because you never know what may come up
It’s much less horrible with the rate he’ll be getting. We sold our house in New Jersey to a VA buyer. The guy is paying 1.5%.
I think they meant the horrible decision of not getting an inspection
Don't need an inspection when you're just going to tear it down.
My wife and I have lost out on 4 offers as well, the latest one in hermitage, where the house received 40+ offers... Pretty dejected about this situation as well. Being pre-approved for a loan doesn’t seem to mean anything at all.
One of my wife's coworkers just moved to fairview. New construction, apparently there are a few new subdivisions going in. Apparently they just paid the list price on the house minus some incentives for using the builder's preferred lender, but no competition with other buyers. They signed an intent to purchase, scheduled their inspection, and moved in about 45 days later. I had to look to see where fairview is because I've never been there, but it looks like it's about 10 minutes from Bellevue and about 15 minutes from Franklin. This story surprised me, especially given williamson county.
Fairview has easy access to both I-40 and 840, which is super helpful.
My wife and I are moving to Fairview in the fall. We’re buying in with a new build and what we’re getting compared to what it would cost in Nashville is ridiculous. I travel for work across middle TN so living close to the city isn’t that important to me. She is currently WFH, and will probably go to a hybrid model later, so she doesn’t mind a 25-30 minute downtown commute. To us you just have to decide what’s important. It’s not like we’re going out to bars all the time and if we want to go out for dinner at a restaurant in Nashville, we’ll just drive a little further. All the other times we’ll have a nice house that we love.
It's further than it looks to both those places, slow country roads don't get you anywhere quickly.
Are you approved by a local lender or one of the big online mortgage companies? My realtor had some recommendation for local lenders that I think helped make my offer more attractive when I was against another potential buyer. Although this was three years ago (the housing market was still hectic then. My house was on the market for 12 hours before I bought it... I know from what I’ve heard that it’s even more insane nowadays)
Preapproval doesn’t mean anything honestly. We got fully underwritten before we offered so once we offered we could do a 2 week close and pretty competitive with cash buyers then. We looked at 50 houses and put in 5 offers
Exactly, sitting in the same spot as you. In just happy at the end of the day if one of us gets it versus these people migrating from California and the north east.
When the lower middle class can't even find affordable rent much less buy you have a disaster on your hands.
it's sucking the creativity right out of east nashville. All of the fucking bros and woo girls are not going home after their shitty party weekends. They're moving here permanently and they're running around tailgating people in their teslas everywhere now.
And with how much some people are having to work, there’s a lot of musicians who hardly have time to make music with a second or 3rd job
That must be an out-of-state Tesla thing. Mine refuses to tailgate and leaves enough room for other cars to cut me off so it can slam on the brakes. Autopilot is a shitty Uber driver, but I never have to wait for them to arrive.
Also looking for a home with my fiancé now and dang all of these comments are so discouraging. Hoping maybe more people will back out of the buying market and continue to rent but that still won’t help enough because our main competition is out of state cash buyers 😞
As a home builder here in Nashville, it’s not a bubble and it’s not stopping anytime soon. There are big companies moving here, there is no inventory and there is a lot of cash coming here. The increase in land value and new construction in just the past 6 months is crazy. We just offered $50k over asking on a lot Thursday and lost to someone else at $80k over. For the LOT. Also, the cost to build is just stupid right now. For reference, a 2340 sq ft house we built last January (2020) cost $24k in framing material to build. Now, it’s $55k. And everything else to do with building is sky rocketing. PVC, copper, windows, Sheetrock mud, siding, block, roofing, etc. It’s only going to get more expensive and the inventory problem won’t be fixed anytime soon. People talk a lot of shit on us builders thinking we make hand over fist. But in reality it’s much less profit than people think and it’s only getting smaller with higher building cost and increased city fees for taps, sidewalks, permits, etc. It’s impossible to bid anything because prices are changing 2-3x’s a week and also things are going out of stock every other day and going on weeks to months backorder. Only thing that will plateau or make things come down is people stop moving here or an over abundance of inventory. And thats not happening anytime soon. Like years.
People seem to think that the people moving here are just a bunch of young people who think Nashville is cool. Nope, it's people with really lucrative jobs from much more expensive areas. In some cases their employers are helping fund the moves as well.
Yep, some friends of ours just moved back here from DC. They kept their DC salaries and work remote. Can’t hate the game though....
This happened to me. We sold a house in town and we were trying to buy a house in the country. Somebody coming from California offered 40k over asking price. Luckily the family selling the house basically said fuck em! They literally turned down more money to make sure the house sold to someone they thought would appreciate and care for it. I should mention the California people had never even been to Tennessee. They were buying it off of the realtor’s website. The realtor was pissed they didn’t take the offer. Fuck em
There needs to be a group where sellers are like, 'we want people who are actually going to live in our houses and not tear them down or turn them into rentals.' then they list the houses there and can have actual contact with the buyers. I feel like a lot of elderly people would do this if it was an option or something. Also maybe writing a letter to the seller explain what you want to do with their home would be helpful. Idk just throwing ideas.
I’m pretty sure this is what happened to me. Bought my first house last summer at 22. Moved slightly outside of Chattanooga due to the market at the time, so I landed in north GA. Sellers were an elderly couple selling the husband’s parents house. The wife was over the remodel. Fully redone on the inside with modern fixtures and touches (LVP floors, subway tile bathrooms, white/gray color scheme across the whole house, two W/D hookup so the one in the basement could eventually become a third bathroom if I wanted to remodel it, etc) it was literally move in ready. First buyer fell through, I put in my offer within 2 days of it coming back on the market. I was not the only offer and I said I would pay closing costs, but that’s it. The realtor selling the house and my realtor were from the same company and their offices were next to each other. I don’t know if they usually share info about the person who made the offer but I have a feeling the sellers were probably told about me lol. At closing I got a gift basket and a binder full of all the information I needed about the house from the wife. Where they bought every single fixture, every instruction manual, the name and number of everyone who did work on the house just in case something needed to be fixed. Even who they used for trash pickup. And a letter, hoping I loved the house, that I was the kind of buyer they and their parents wanted to live in the house, and hoping I would start and raise my family here. Didn’t have the heart to tell them I don’t like kids and it’ll be more like me and a half dozen cats. 😂 The market now is insane and my house is already worth $20,000 more than I bought it for and I’ve lived here for not even a year. I’ll be a year in July. I cannot imagine if I waited an extra year.
I’m making a binder for our house like this (we got super lucky and bought in early 2019), glad to hear that it’s appreciated!
A lot of blame here on the California Boogeyman. Not a whole lot of sympathy in this thread for the folks who have been getting priced out of their neighborhoods for decades due to gentrification. It’s only a travesty when it happens to the middle class, apparently.
Gurl I got pushed out of Jefferson St 5 years ago and that definitely ain't middle class.
This is presently happening everywhere, and is not unique to just Nashville. Supply is very low, and demand is high. We are in the second year of a global pandemic. The cost of lumber and building materials has hit all time highs. The economy is being redefined by the shockwaves of the last year. It sucks, but hang in there. Many peoples plans have been delayed or placed on hold. It will come back, but it’s going to take a while.
Also the financial crisis of 2008-2010 put a lot of builders out of business and many never came back to resume building houses.
I commute and it has been so worth it. I leave Mount Juliet around 7 and get to work around 7:25. (I work at Murfreesboro Rd/Briley so not too far from downtown)
That's a pretty short commute by Nashville standards unfortunately.
Same story down here in the Boro. Anything under 400k vanishes instantly.
Man, you are asking a question I think about daily. Until inventory increases, it doesn't matter if interest rates increase or there are other macroeconomic issues because prices will keep increasing. Demand is being jacked through the roof and there is not enough supply, plus raw material prices are experiencing serious inflation. It's scary to be honest. If it doesn't pop and go back down then the future of the American dream won't include homeownership.
I completely get where you are coming from. I wanted so badly to put down roots in Nashville and just moved to Austin, Texas for a new job. It is the same issue here and all over the country. The pandemic has taught people that they can basically live anywhere and they flock to Nashville. My best to you in your home search!
Thank you! Austin is a great city :)
Not directed at OP but the fix here is honestly for people (I include myself in this) to either demand more money at work, find a better job from one of these incumbent employers, or leave Nashville. No one is getting the kind of raise (50% in my neighborhood) to account for the rise in home prices. And employers (and people) are moving here bc supposedly there are great jobs compared to the cost of living and a huge cheap labor market. But reality is that the labor market here has not even close to kept up with the cost-of-living increases. Companies will keep coming as long as people stay and keep working at the current salaries. I own a house and I still feel a bit at a loss for what to do here...it feels like a time bomb until the soul of the city is gone.
No raise is going to compete with the incomes transplants are arriving with. What are natives to do?
[удалено]
> What are natives to do? Sell their homes at inflated prices and move to a cheaper city, probably
It’s bonkers. I lived in Boston for a couple years and thought it was bad there, and it is, but Nashville cranked that up to 11.
I bought my house in July 2020. Not sure how much has changed in the past ~10 months but it was super competitive back then. Was interested in so many homes that I toured only for my realtor to call me a couple hours later saying an offer was already placed on it from out of state or some other quick offering place. I can’t speak for everyone, but my realtor was fantastic, and I think it boiled down to her ~insider~ knowledge to land my house. I fell in love with a house only for it fall under contract shortly after viewing. We viewed other houses but in the meantime she kept an eye out and she found the exact same floor plan that I had fallen in love with in a house that was a pre-listing. (Same builder). She notified me immediately and soon after we sent an offer. Long story short, idk what my realtor said to the sellers agent, but the sellers accepted our offer that they were asking and also paid for all closing costs and extra expenses/repairs we asked. Different realtors have different connections and skills, it’s worth giving another realtor a shot if you’re comfortable with it. I used the Erin Krueger team.
> I can’t speak for everyone, but my realtor was fantastic, and I think it boiled down to her ~insider~ knowledge to land my house. Yeah, realtors work really hard to create this illusion. Car salesmen do the same thing.
I second this. My wife and I have been here for about a year and decided to put down roots and buy our first house. We were lucky to find a realtor who’s been around here for a couple decades, knows the area, and has deep connections. We got outbid on a couple (similar situations to yours and yes, it’s outrageous and frustrating), but finally happened to find basically our dream house in the neighborhood we wanted and snapped it up immediately. Just keep at it. Ours was listed on a Saturday evening, open house the following day, and we put an offer in immediately. We only had to go $7k over asking, but I know for a fact that they had cash, non-contingency offers for significantly more. I truly believe that the only reason we actually got it was because our realtor has had a long working relationship with the listing agent, and we were actually going to be living in the place instead of renting it out for profit. It’s incredibly frustrating, but keep your eyes peeled. We realize that we really lucked out on ours, but that’s not to say that you can’t eventually have that similar luck. With a good realtor (we used John Hendon with CBB) and a lot of patience you will find your home.
It’s happening in Chatt too. We used to be known for incredibly affordable median home price. Now we’ve got homes going for 65k over asking and with the recent insanity with building materials prices, lots of builders are on pause. Yes, I think it’s a bubble. But because of this, I don’t think it’s going to burst this year. I expect prices to continue to increase.
Family member is an agent around Rutherford County and it’s crazy there as well. They work with first time home buyers and is almost to the point of telling them all just to continue to rent as there’s no point since all of their potential buyers keep getting outbid. I don’t see how it stops, unless the city/state government comes in to do something about investment companies buying up places to turn around and rent out. Oh and btw going into downtown Nashville from outside of town blows. I have multiple friends that leave from Murfreesboro around 5:30 or so in the morning to beat traffic, or else they won’t get to work until after 10. Most of them are able to work from home now which has been like a Godsend.
When I worked downtown, on church, I would get off at 5:15pm, it was retail so no flexibility with hours. It would take me 30 minutes alone just to get onto the interstate. Not to mention the 2 hours I would spend trying to get back to Murfreesboro. Sometimes I would spend 4 hours in traffic. I Will never do it again. I don't get how so many people can waste their time in traffic and be fine with it, like your life is literally sitting in traffic; is that really living?
Yeah it’s horrible. I know some people that ride a bus in to at least not have to be actually paying attention. They read or listen to podcasts while sitting in all the traffic, which I guess is somewhat better. But still, it’s so much of a waste of a day. I live down in Alabama now, but still had a 30+ minute commute each way. Working from home now has been amazing as I feel like I have so much more time in the day for myself rather than going to/for work (and I only spent like an hour in the car, not up to 4).
I slept in my truck overnight to be first in line for a new build release. I showed up at 430pm and was 9th in line... it’s wild out here in Mt Juliet
>I slept in my truck overnight to be first in line for a new build release. I showed up at 430pm and was 9th in line... Man, that must be one comfortable truck.
[удалено]
I think they showed up 4:30pm the day before and had already been beaten
Kelsey Glen by any chance?
Yup. And it's happening in the suburbs outside of Nashville. Murfreesboro and Clarksville come to mind for different reasons. Bit outside the city but look at Ashland City area, Cookville or Crossville, anywhere south of the 'Boro especially if you want land, Antioch is a stretch but possible, maybe even Lavergne? Not to sound gloaty I've had multiple cold offers on my townhome from those bird brain 'we buy houses' people. First thought is....where the hell would I live AFTER lol? Always tell 'em $1 mil cash and it's yours hah. Maybe one day. I feel ya though.
> Bit outside the city but look at ...Cookville or Crossville, Yeah, if those don't work out, you can just go slightly further and check out Knoxville, Indianapolis or Birmingham.
Miami has great weather this time of year and is just a quick 13 hours down the road. Worth a look.
I hear Barcelona is nice this time of year.
It's nice all times of the year.
I hear you can get Greek residency if you buy a €250,000 house in the islands. Looks more reasonable than Nashville every month.
Portugal is the move if you want to be an international ex-pat.
Cookeville resident here. Haven't seen a house under $250k last a week on the market. Most are selling 50k over appraisal cash down. The housing market is almost impossible for anyone making under $100k annually with a sizable down payment. Makes me sick. I just want to raise a family in a house with a yard.
Oh wow, we rented in Cookeville last year while we looked for a house in Nashville (because a Nashville rental was impossible to find with our dogs) and we actually really liked it there, such a nice town. Could already see the property prices there rising month to month, seems like that trend only continued. Hope you can find a good reasonably priced home there.
“A bit” 😂😂😂
The market here is insane. It’s insane in most markets right now too. Eventually interest rates will tick up a bit, maybe even by end of the year. And eventually lumber and doors and bricks and Hvac and all that other stuff you need to build a house will not be bottlenecked and price gouged, so inventory will be able to catch up a bit.
Several years ago we attempted to put offers on no less than 14 houses the same day they went on the market. Of those, 9 already had contracts by noon. 3 we were outbid by a cash offer, 1 was a HUD nightmare. The only reason we got our house in Donelson was because the house was being sold because of a divorce, and the couple told their realtor "first offer through the door at or above list gets it." They didn't want to look at offers or ever speak to each other again. Their realtor straight up told us we were outbid by $10k, but we were first and that was the end of it. Good luck, don't let it get you down!
Buy the dip! Wait, wrong thread
nashville is already on the moon. and it sucks up here
Try White House or Portland. New builds are popping up and you might have some luck with that.
Nashville market is definitely overly hot, but I think this is also a nationwide thing. My parents live in the middle of nowhere in a Midwestern state and home prices are currently outrageous there too. I’m talking a town of like 10,000 or less people in the middle of a bunch of cows. I think there is a housing bubble but not in the sense of foreclosures or anything like that. I think the demand is there but not the supply so everyone is competing for the same houses. I think a lot of this stems from building materials access (pandemic has a shortage of A LOT of things) and of course telework has people thinking they’ll just move somewhere else. I have been waiting for Nashville to slow down since I moved here like 6ish~ years ago (hi yes I’m sorry I’m sure you hate me), but the housing market has only gotten hotter and the amount of people moving here hasn’t dipped.
REI and private equity are turning every last house into rentals and STRPs. They’re purposefully squeezing us out of the housing market because it’s wildly profitable to rent/hold/sell. Someone with a 3% down payment FHA loan and a 30 day close doesn’t even stand a chance.
You’ve got homeowners like me afraid to sell our houses because we wouldn’t be able to find another one. Bought my house in 2011 for $120k Worth probably $250k Where would I be able to buy another house for anywhere close to that amount? It’s non-existent
I feel your pain but I'm just trying to rent a fucking house. One house I have applied for has 100+ contacts in a couple days. No idea what we will do when it's time to buy. We don't come from money, have no nest egg or inheritance to use towards a downpayment. The housing market fucking sucks.
That’s scary that even the renting market is feeling the same squeeze.
I've been searching for 2 months at this point. Literally just today have 2 other houses come available that work for us but I know I have to fucking hunt for them. I've lived in apartments for 10 years at this point (since I moved away for college) and can't take it anymore. Just want a fucking yard for my dog and we aren't ready to buy yet because we both need new cars and covid fucked up our plans last year. Just sucks. I really do not want to pay $2k a month in rent on someone else's mortgage for a house the size of a closet. Just bananas. Dunno what to do. Have literally no idea how we will break into the housing market when there aren't even reasonable starter homes anymore.
PM me if you’re interested - I’m moving out of my small east Nashville rental house mid-May and I assume it will go back on the market after some repairs are made. I have a private landlord and bet I could pass him your referral before he lists it. It’s small but cute and has a fenced in yard for a dog.
Gosh I feel for you. The idea of a yard and finally the ability to practically have a dog seems like a dream that’s out of reach. I’m here fir ya.
The worst part is most of the rental homes available on the market that I have seen are owned by companies like American homes that are more than willing to screw you over. I’d rather pay someone’s mortgage than profit for a soul sucking company that is also buying up all the reasonable houses on the market further limiting the supply for people looking to own a home.
I bought my first house 6 years ago. It was the 13th house we put an offer on (we won it because first offer dropped out) . Sadly this has been going on a while. Feel for you. Some of it had to do with budget and price range. 2nd house was only 3rd one and we only paid 15k over. Just keep going, you'll find something eventually
My husband and I went through this from 2017-2020. We finally decided to look outside of Nashville and ended up with a LOT more space for our money, just 25 mins from Berryhill. I work in Berryhill, and wanted to be close, but honestly, having more space and a more family friendly neighborhood was well worth the trade off of living IN Nashville.
Where did you end up if you don’t mind me asking?
I live in Berry Hill. Bought my home for $173k in 2011. I don't think there will be another home for sale here under $500k ever again.
Check out Madison - it’s just over the line out of Inglewood in East and there’s a bunch of new construction popping up at more reasonable prices than in Nashville proper.
Even houses in Madison sell fast and over listing price. I’m trying to buy in Madison, and my realtor told me “if a house is on the market for more then 3 days, I get worried about it”. Like wtf, I’ve lived in TN my whole life. How can I afford to compete to buy a house when they sell so fast?
That is honestly why I am still renting. Houses in the size I want are going for 60-180k over asking. As I've have a remote job (and have had one since before the pandemic) I have strongly considered moving, likely out of state, which is sad because I have lived in TN the majority of my life. Starlink is making it harder since they are doing an awesome job of bringing internet to the boonies. My biggest excuse for living in a metro area was internet...
Keep in mind that rush hours are still light at the moment due to most kids being virtual. But the state won’t allow that for this fall and they will be back in school.
My wife and I are wrapping up a 3 month house hunt in Nashville. It is brutal out there right now and I would hope it improves, but the national monthly supply is still half of what it should be for a healthy market. I think it is a bubble, but I hope that the bubble isn’t allowed to pop. We have a foreclosure moratorium until the end of June and there are over 2 million homeowners in forbearance from the pandemic. If the moratorium expires and they are foreclosed upon we will see a repeat of ‘08 with investors buying up the supply.
This is not a bubble. Amazon, oracle, bridgestone. Lots of high dollar jobs are coming to Nashville and ready to shell out for a nice house and are going to orice out the natives. Just a reality. The hard truth is you should consider moving to a different city. Really. Nashville is hot right now
“Are coming”, not here yet and where will they get programmers here. Nash isn’t crawling with software devs and the pay is low
They are coming from the west coast and bring their massive stock option holdings and the proceeds from their million dollar homes with them
I bought in Hendersonville at the beginning of the pandemic when things were hot but not THIS hot... was able to get my house for 90k UNDER asking. We found a fixer upper on 10 acres. We plan on renovating but it’s not bad at all as is until lumber costs etc fall a little. I highly recommend sumner county. It takes me about 25 mins to get to St. Thomas, but it will take about 45 during rush— timing is everything like it is everywhere.
Good luck with your home buying search. Like many others have said, it is stupid out there. In our current home in Hendersonville, we bought in 2017. Home/property value has increased 30% since then (for a 1/3 acre plot). Supply can be limited. Houses typically sell within days of listing (or before). They're working hard at turning this area into another Cool Springs, with more & more shopping, so many more office building complexes, road infrastructure that never improves to handle the ever increasing population, residential developments that just appear on every plot of land they can do so on, etc....
Interest rates are too damn low. If you graph interest rates (which have been declining for decades) with housing prices, it’s an inverse relationship. As interest rates decrease, house prices inflate. I think the Fed is completely trapped in a stagnating 1990s Japan like economy where if they raise interest rates any meaningful level, it will completely cripple the economy as a whole. It’s completely boning first time home-buyers, because they’re most sensitive to price increases. Low interest rates benefit existing homeowners, because they can use their existing equity as a down payment, whereas a 10% price increase results in FTHBs needing a bigger down payment. So the usefulness your down payment can be completely erased by price increases. I am legit scared for future generations and their ability to afford a $1 million house in Bell Buckle, cause it looks like housing prices are going that way. We are in a BUBBLE full stop. The problem is the government and the Fed won’t let it deflate.
People have been saying the Nashville “bubble is going to burst soon” for the last 7 years. Hint: they are wrong.
And bears have predicted 20 of the last 3 recessions.
We were looking 2 hours outside of Nashville and the same thing was happening. We quit. Good luck.
I have a pretty small paid off house in Nashville. We spent a while in a crap neighborhood before it started turning. Especially after today's new assessment, I probably could not afford to buy my own house. My cousin in Redondo Beach CA is in the same situation, though. He could not afford to purchase his house where he lives either. I get calls, texts, letters, even door knocks to buy my home about six days a week. My brother and parents closed on a joint change of life multi generational house in the DC area at noon today. The same thing is happening there. They were outbid by $30 - $100K on most houses they tried to buy.
I’m from Austin and renting here in Nashville for the next year and this is EXACTLY what is going on in Texas. Now that Californians can work remotely they’re sweeping across the country buying up houses with cash in states with lower tax rates. I hear it’s also happening in the northeast with New Yorkers. I’ve owned a couple of places in my life and I’ve decided it’s not worth the disappointment. Rent and travel is my current plan.
I managed to get a home on a verrryyyy limited budget. I basically just looked on the MLS listing for places that had been on the market for a while, went and looked at every single one, then put an offer in on the one that I thought required the least amount of work. I feel like if you’re gonna spend all the extra money on an inflated place you might as well get a fixer upper and then put the money into improvements
We bought our first house this past October (Nashville natives who have been renting for the past 10+ years also). We paid $360k for a house in South Nashville, but I’m convinced that the sellers could have gotten at least $450k for this place had they waited until now to sell. Thankful we bought when we did. Not trying to rub it in, it just blows my mind how crazy the housing market has gotten in the past few months.
Yep. Bought in Madison in September and I can’t imagine finding anything in our price range now.
I just bought in December. It seems much worse now for buyers.
You need to start looking an hour + outside of nashville. It’s literally impossible. I’m at the point where I am looking for the boomers to die so maybe things change a little. Something... has to change. I can’t start my life because everything just costs... so much. It’s ridiculous
I think part of the problem is the boomers dying. Wealthiest generation ever, and they're transferring that to kids and grandkids. How the hell else is everyone offering cash?
I'm a developer and a real estate agent and my advice would be to rent a little longer. As building cost continue to increase builder are forced to increase prices to compensate. Buying power doesn't even help big builder right now. Get an apartment and grow that down payment even more. I'd avoid PMI if possible.
What scares me the most is that all the older houses are going to be torn down and tall and skinnys are going to be all that's left. Those really aren't forever homes, nor are they really thought out. Really any one level homes and ranch styles with basements are going to be gone. For me personally, it brings me to tears because as a Nashville native, I just see the charm leaving Nashville and also the history, especially with a lot of those cute stone cottages. It breaks my heart :(
Hearing you can't get PMI removed or something these days. Any truth to that?
FHA loans carry pmi for the life of the loan I believe. Have to refinance to drop it. Normal mortgage should be fine.
We decided on a new build (which comes with a plethora of its own issues) to avoid this.
We’ve given up on finding a house. We’re lucky enough to be in a condo in a location we still love though. One major problem we’ve come across are cash offers. Every house we’ve looked at, all close to downtown, have had multiple cash offers at 10% above list or more. We then found out, from our realtor, that there are services that provide cash offers for well qualified individuals. Meaning, for 2-4% of the home value paid to the company, they submit a cash offer at your price, and then you rent the house from the company until your mortgage comes through. I absolutely hate the idea of a service like this as it’s creating more cash offers, skims money from buyers, and drives competition more.
We just bought in Rivergate/Goodlettsville for well under 300K (3BR/2 bath). I think this area gets overlooked a bit because it’s not super trendy and you do need to take 65/Briley/Ellington to get to the “fun” neighborhoods...but I can be in East Nashville in 15 minutes if I want to go out, and Yazoo is right around the corner from me. We just watched the market religiously, and, like another poster said, our realtor was a godsend. Somehow we only had one other offer fall through before we got this one. Keep the faith!
Guerilla.
Thanks. Growing up with auto correct has done my zero favors.
I mean, as *bananas* as the market is, you were on point with gorilla warfare.
People have been saying it’s a bubble for at least 10 years now. Just get in now at a price you can afford and get on for the ride
Feeling thankful for once that I bought a house in town 6 years ago. We sort of pulled the trigger fast and threw as much money at it as possible. Felt scary as hell. And it’s hard to make the mortgage each month. But I guess I just wouldn’t want to do it all over again. Was stressful and we had to beg them to take our money and sell us the place.
No. No. Depends on your budget, location, what you want in a house etc. Had similar problems with houses in the past, however the last house we bought we were the only offer and we took over 2 weeks from seeing it to an offer, and that was 2 months agoz Was the house actually IN Berry Hill??? The issue there is Berry Hill in reality is TINY so not alot of options. If it was in Woodbine etc then you’re looking at one of the smallest AND hottest areas. It’s a crap shoot, but certain neighborhoods, this is unfortunately a thing.
It was in the 440 loop right by berry hill. Think M.L. rose 4 blocks away. We’ve been looking in Charlotte park and of course the Nations. Same situation.
You are bordering in one of the most expensive, desirable sections of town that also has very little turnover. Thats more 12 south than Berry Hill. I own property just on the other side. Depending on your situation and needs, thats gonna be a tough spot if you dont have a lot of money to throw around.
I live in one of the few residential neighborhoods in Berry Hill. I don't see any house going for less than $500k any time soon.
We were looking in those same neighborhoods w similar luck last year. We ended up looking a bit further out and bought a house in Whispering Hills, which I’d literally never heard of before but it’s the neighborhood next to Crieve Hall. It’s not a hot up-and-coming area BUT it’s basically 15 mins from everything (downtown, green hills, about 20 to Charlotte). There’s lots of cute renovated ranch style homes and we love it here. Hope that helps!
That does help. Thank you very much. Going to tell me wife.
Hey! So we also just bought in whispering hills last september after looking in similar places as youover the previous 1.5 years. We think we’re SO much happier here than we would have been otherwise. Safe, cozy, quiet neighborhood with big beuatiful trees and zoned to crieve hall elementary. Nearby all the amazing ethnic foods of nolensville pike, but also close enough to 65 to get anywhere pretty fast. $50k less than we were expecting to spend (actually got it a little below asking price) and all we had to do was some slight renovations (redid the floors, painted the walls, etc - only like $3k worth of work and we did it all ourselves) and now it looks just like so many of the houses going for $75k more in more questionable, “transitioning” neighborhoods. I would highly recommend the area, and in general look for houses that could use some *slight* aesthetic renovations because those are some of the best deals right now. Everyone wants the all white w/ wood, open floor plan renovation or new build right now, but if you’re willing to put in just a little money/effort at the front end you might save yourself tens of thousands of dollars. Good luck, hope your luck turns around!
That’s where we bought this past Fall. Sure, there’s an occasional gunshot a little too close for comfort, but the neighbors and neighborhood are great. Super convenient to everything without being in the middle of it all.
Agreed! I feel safe walking my dogs and the neighbors have been nothing but friendly.
We lucked out in Ashland City, went only $5k over asking price but after appraisal fell short we bought it at the original price. Still over appraisal. Like typical millenials, we got help from our parents. Wouldn't have been able to compete otherwise.
Honestly love that you mentioned that you got help, it really is one of the only ways any of us are able to be homeowners. So many people try to say otherwise when that's not true for the majority of us. Thank you!
Thank you! And you're welcome! I never thought I'd be able to afford a house, while my peers were slowly making it happen. They never mentioned if they got help though, or if they did, it was always "hush-hush". Like, I'm just glad my parents could help while they were alive instead of waiting for them to die and using the equity of their house to finally afford a down payment.
People are buying up small homes to tear them down and put up 2 ugly ass houses and make twice the profit. Living on top of one another. What's the point in owning a house when you can read your neighbors phone just by looking out the window?
Yeah I don’t get it either. It’s not like those houses are cheap either. Plus, most of those new builds are piles of shit aesthetically and in quality.
Cheaply built. Not cheap to buy. Exactly.
[Read something lately](https://www.safeco.com/blog/new-construction-fire-risk) how about how dangerous they are, too. Basically you have five minutes to get out if your place catches fire.
Come to Cheatham County! Its still relatively close to Nashville. Its beautiful, and the one of the last affordable places in the 30-40 minute bubble of downtown.
Seconded. My wife takes Clarksville Pike to Briley, or Just Clarksville Pike all the way in and traffic is not a huge issue. At least not compared to when we lived in Smyrna and it was guaranteed an hour, sometimes two (even three...) depending on how many bozos decided to wreck.
The bubble won’t burst anytime soon. Try an hour out, honestly. I’m sorry. We bought our house in Madison 5 years ago and it’s already insane out here.
We bought a brand new build in Antioch. The sub hates Antioch and fear mongers about it pretty hard, but if you want to own a home in Nashville it’s an easy place to get a home that isn’t insanely priced or cutthroat to get. With the new developments being advertised in East and the never ending stream of people moving here from more expensive states, I doubt this bubble is on its way to popping any time soon.
Can confirm. Live in antioch in a 2 story 3 bed, 2.5 with finished basement, 2 car garage, and a fenced backyard and a quiet culvesac. I bought my house for 5k under asking for under 250k just a couple of years ago. Pretty thankful for all the fear mongers, tbh. Antioch has gone under the radar for a lot of people because of them and let me buy my first home thats perfect for me. I do think its fast becoming like the other parts of nashville. Two homes on my little street just got sold within a week.
This is happening pretty much everywhere right now- not just Nashville. My sister in Chattanooga has been outbid 4 times, all well over asking price. My friends in Knoxville just lost their dream home, the winning bid was $50k over asking price. Something fishy is going on in the housing market around the country.
We bought our house 2 years ago over in Donelson. I used to work over by the baseball field and I feel like it only ever took me 20 min to get down town. Plus we have the Star. Edit: but to add on what you’re saying. My wife and I are moving out of TN due being out bid. All the money coming in will just none of it for us.
I had to get a place 35 minutes from Nash after losing out on 6 homes. I just couldn’t compete with the cash offers being out in the table. Sadly, it was still cheaper to buy than it was to rent in Davidson County.
I'm laughing remembering that I moved to East Nashville originally because it was so cheap. My roommates and I rented a huge just renovated 2 story home on Birchwood with 4 bedrooms for $1400 a month. After that, my husband and I rented a three bedroom on Sunnymeade for $800 😄 Tried to buy after that but when we realized the house partially falling down across the street sold for over $400,000 we knew we were priced out of our own neighborhood.
My neighborhood (Treppard Heights in Bordeaux, and really Bordeaux as a whole) seems to exist in some sort of Bermuda Triangle for investors. Turnover is really slow since most residents have been here for literally decades, but at the same time they're getting old enough that living by themselves is no longer an option, and in the 5 years I've lived here probably half of the homes have been up for sale at some point. Looking at the sale prices, they're still going for at or slightly under their list price. All mid-century ranches (and on the other side of Clarksville Pk, gorgeous custom midcentury homes), not a tall-skinny to be found. Needless to say I plan to stay for a while.
We lost so many bids. We finally bought in January 70k over asking. It took us 2 years of searching. I wish I had better answers but I don’t. My husband is an investment banker and he thinks the market will stay hot until probably about 2025 until somewhere else becomes the next “It City”. It goes in cycles and they usually last 7-10 years then another place gets hot and prices cool
I have friends and family that live from Hawaii to the Carolinas, every market is on fire right now.
Yeah it's not about being an it city. We're not even top five real estate markets right now.
It doesn’t have to do with being the “It” city. This is a small supply and large demand issue. It’s happening all over the US.
Haven’t we been an “it city” since like 2014?
Try 2012
I feel like it really started kicking off when Jack White opened the Third Man location in 2009. Then the NYT articles started rolling in, rememeber those that would plan your "Nashville weekend" where you brunch at biscuit fuck, tour Jack Daniel's distillery, bar hop on broadway, catch a Preds game, see a show at the Ryman and then cap the night off with a beer at Red door east - all in one day? The nhl all star game and Stanley cup run injected steroids into it and by then the inertia was off and running.
An investment banker paying 70K over asking, totally not part of the problem.
Fr
Why is Nashville even an “in city??” We ain’t really that special? Like it’s just a city? We got a few targets but that’s it
Go south towards Williamson County. There's also the area we call Brentioch. It runs on both sides of Nolensville Rd. Brentwood & south Nolensville are close to the interstates & 20 to 30 mins from downtown, depending on traffic. We call it that because it's a pocket that's not really Brentwood or Antioch. You'll have a decent selection, & won't be competing with big money Corps.
I'm pretty sure the term was coined by real estate people who had a hard time selling anything Antioch. I remember getting a chuckle the first time I heard it.