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The Nashville real estate market seems to be relatively strong compared to the rest of the country. The one potential weak spot is home prices, which were reported on by an April 8, 2010 article in the Nashville Business Journal. That piece found that “Nashville’s home prices aren’t done falling according to an analysis released Thursday by Fiserv Inc. The Wisconsin company said it doesn’t expect Nashville’s home prices to bottom out until the third quarter of 2011, and says prices won’t return to 2007 levels until 2018.” The article continued to note that “It based its report on historical trend data and forecasts based on the Fiserv Case-Shiller Indexes, which measure sales price trends for existing homes, as well as data from the Federal Housing Finance Agency and Moody’s Economy.com.”
Foreclosures amidst Nashville real estate have also been edging upwards, but that figure remains quite mild relative to the rest of the country. According to an April 7, 2010 article, also in the Nashville Business Journal, “Foreclosure rates in the Nashville area continued to rise in February, according to data released today by First American CoreLogic. According to the data, 1.44 percent of outstanding mortgages were in foreclosure in the Nashville-Davidson-Murfreesboro-Franklin area in February. That is an increase over February 2009, when the rate was 0.75 percent. The current rate is still below the national average of 3.17 percent.” The piece continued to note that “The mortgage delinquency rate also increased in February. According to First American Corelogic, 6.05 percent of mortgages in the area were 90 days or more delinquent…”
The volume of Nashville home sales, however, has increased impressively, according to an April 9, 2010 article in the Tennessean. The piece, written by Naomi Snyder, found that “Interest rates are at historic lows, the government is shoveling thousands of dollars in tax credits at people who buy homes, and the Nashville real estate market responded in March with a 22 percent increase in sales compared with a year ago. With a new sense of optimism, sellers are putting more homes up for sale here, buyers are signing more contracts, and homes are moving at a much brisker pace that’s likely to last at least until summer.”
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Nashville real estate has therefore suffered some losses but can look forward to a better future market. In fact, the article claims that “there have been about 2,000 closings per month for the past several months and, while we did not quite make it to that level, we are certainly in that range again in September. Also, the fact that pending sales remain above 2,000 confirms that the pipeline for future closings is also consistent.” This comes as good news for people with Nashville homes for sale who are trying to sell their properties at the highest possible price. However, this also comes as an open opportunity for more potential home buyers to enter the market as prices are still relatively low and the value of homes quite high. However, with the tax credit deadline looming large, several analysts believe these figures might not be so hopeful once the winter season settles in. While year-to-date closings are down 22 percent compared to the previous year, there is still hope for a recovery in the next few years that will stem the decline of prices and mark a revitalization of this struggling industry.
Fortunately, the news wasn’t all bad for Memphis homes for sale. On October 1, 2009, Luke Mullins composed a list of top-ten hard-hit housing markets that are ready to rebound in 
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Tennessee real estate may be in better shape than many other places in the United States, said several speakers at the Middle 
