Hot Housing Market Ripples Beyond Nashville's Core | Nashville Public Radio

Hot Housing Market Ripples Beyond Nashville's Core

Mar 7, 2017

Nashville's housing market continued its relatively steady march upward in February, with a nine percent increase in activity over last year. Some buyers and sellers are also noticing that the real estate frenzy has become more broad based.

More: Nashville realtors tracked 2,507 closings and a median prices of nearly $259,000

Chris Felts bought his first house 15 years ago. It was a ranch-style home near Antioch. He and his wife wanted to sell a couple of years ago, but homes in the area weren't moving. Then last year, he had a garage sale and got unsolicited offers.

"By the end of the garage sale, I had three people who wanted to buy or rent the house," he says.

After a few renovations, he put the house on the market last month and was under contract within a few weeks. He says he got nearly twice as much as he would have asked for a couple of years ago.

"The boom started right in the middle of downtown and just started spreading outward, like a ripple effect in the water," Felts says. "Eventually Antioch got it, and I don't know how long it will continue to go, but it may ripple on out to who knows where."

According to county-by-county numbers from the end of 2016, every county outside of Nashville increased sales and median price during the fourth quarter.

Felts, who is a stay-at-home dad, is moving his family a little farther out, to four acres across the county line in LaVergne, adding to the increased activity in Rutherford County.