Nashville Luxury Real Estate Market
Posted Jan 5, 2007 @ 9:00 pm, Viewed by 1179 Visitors, Read 1247 Times.
Nashville TN has been voted the number one City in the USA for corporations to relocate to. This is fantastic news for the overall economy of the City and the surrounding communities on all levels.
One area of the Nashville real estate market that is directly benefitting is the growth of the luxury real estate market.
Only a couple of years ago a home that would list for 2 million dollars was probably at the top of the luxury home listings in terms of value. Now two million dollars is almost at the entry level of the upscale estate homes that are in so much demand.
The reason is probably very simple. If major corporations are relocating their head quarters here then by association they bring their workforce and most definitely their senior management and executives. The overall increase in demand for housing pushes the sales price of the average single family home upwards and this means that the trickle up effect leads to all the homes values increasing.
Subdivisions like the Governors Club and Laurelbrook have entry levels in the 1 million dollar range and now go all the way up to close to 8 million! These homes are exactly what the discening upscale home buyer is looking for. Quality homes, a safe environment and a ready made social hierarchy to interact with and meet new friends with similar interests and outlooks on life are a major attraction of the upscale subdivisions.
The luxury home builders are increasingly looking for lots to build homes to satisfy the demand. Areas in Green Hills,West Meade and Belle Meade are constantly being scoured for “tear down” homes that are situated on large lots and built in the 50’s and 60’s.
Once the builder acquires the land he can tear down the old ranch and put up a 3 Million dollar luxury home that gives the owners all the conveniences of being downtown and the advantages of living in a state of the art home.
As the real estate market in Nashville continues to boom so will the luxury home market.
For more information about Nashville and the surrounding communities of Franklin, Bentwood, Hendersonville and many more go to www.NashvillesMLS.com and www.Nashville.com
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I am the exclusive realtor for www.Nashville.com with a team of 10 buyers agents that cover the Nashville area and more. As a result of the web presence we have developed over the past 4 years we are now ranked as the number 1 team in the Nashville RE/MAX Elite Nashville office.
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