Nashville market expert Bruce Jones says that while prices appear to have leveled off in his area, the increased number of homes on the market has put pressure on sellers to price their homes lower.

And while business continues to be drawn to this area, many of the residents that come with it are unable to buy new homes due to the fact their homes are not selling elsewhere.

One reason for the ongoing stagnation is the secondary mortgage market has made it more difficult for first-time buyers and jumbo loan seekers, causing a slow down on both ends of the market.

He believes that in mid to late 2009 the market may become a sellers market due to expected decreased housing inventory levels.

Builders have pulled back building speculative housing due to the downturn in the market, thus mid to late 2009 could see a shortage of new homes once the market picks up again.

So what's the good news for this market right now?

Jones says the Nashville and Williamson County market remains a safe haven for buyers.

And solid good job growth, strong commercial growth and company relocations continues to fuel the need for additional housing.

For more information on this area contact Bruce Jones at:
FranklinElite.com.

Published: May 20, 2008

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