Tennessee Real Estate

Tennessee has the Great Smoky Mountains, swamps, big cities and farm communities all mixed together with a touch of southern charm. It is in the middle of lots of action with eight states making up its borders. Tennessee largely makes its living off the land. Farmers grow soybeans, cotton, and tobacco. Cotton exports made Memphis a major port on the Mississippi River. The Memphis Cotton Exchange still handles approximately one-third of the entire American cotton crop each year. Other agricultural productions include raising cattle and hogs and selling their products.

The state seems to be a builder’s dream. In 2000 alone, there was a jump in housing units with just over a 20 percent increase in new homes. There are currently 2.4 million housing units in Tennessee, with 1.5 million in urban areas and 888,000 in rural sections of the state. Home owners account for 69.9 percent of the population and vacancy is at 8.5 percent. The majority of homes were built after 1975, but many historical homes are still in existence today. Tennessee has a population of 5.9 million people, with 4.3 million living in urban areas.

In a hot area, Brentwood, there is an even market for buyers and sellers. There is a good supply of homes and buyers are frequently selling their homes in order to move up to a larger, newer home. The average home takes 10 to 30 days to sell and costs upwards of $400,000. This area has many new jobs and it is known for having the best schools in the county. In another growing community, Gallatin, sellers can expect to have their homes on the market for two to three months. There is a very good supply of homes and the average price is $235,000. Single families are moving there because of the growing economy in this region of the state.