RED REPORT – FEBRUARY 2017
CHECK OUT OUR FEBRUARY 2017 RED REPORT!!!
The Red Forecast
The Home Spring Selling Season has arrived as we see sales activity start to increase. Inventory continues to be an issue as inventories get lower and lower each month. Middle Tennessee’s inventory is at about a 2-month supply. We tend to think a 4+- month supply is a good healthy market, so a 2-month supply would tell us that we continue to be a strong Seller’s market. New residential developments are coming and under construction, but I’m not sure how long it will take for this new inventory to relieve the low inventory issues.
Another problem with a 2-month inventory is it is probably much less after you throw out all the overpriced listings or homes that don’t fit the typical buyer in our market.
Get ready for a busy Spring. Our local chambers and government leaders seem to continue to do a great job attracting jobs to our communities and improving our quality of life, so we would expect Middle Tennessee to continue to be one of the most attractive places to live. I love to hear the stories from those that are not from Middle Tennessee who have located here or are looking to do business here. They all say the people are so kind and giving of their time/resources to charities so much more than where they came from. I knew our community was pretty great, but it is cool to hear others explain how great our community is.
Take care & Happy Spring!
522 Uptown Square
Murfreesboro, TN 37129