According to realtor.com, current housing inventory is expected to hit an all-time low. “If the trend we’re seeing continues, overall inventory could near record lows by early next year,” said Danielle Hale, chief economist for realtor.com. Fewer homeowners are listing their homes due to having lower interest rates compared to those being offered now, decreased consumer confidence, older generations choosing to age in place, and accelerated home price growth over the past year. Lower interest rates are bringing buyers back into a housing market where there isn’t enough supply to meet the demand. According to Redfin chief economist Daryl Fairweather, “we expect to see more bidding wars, which will push prices up this summer.”
Demand for homes in the Nashville area is increasing due to the abundance of high-networth companies relocating and expanding in the market. A widely shared statistic states that 100 people move to Nashville every day. In fact, MSN reports 1 million more people are expected to move to Middle TN by 2040.
Wonolo, an online staffing solutions company, KeepTruckin logistics firm, and pet food company NomNomNow will be expanding their companies within Nashville while companies such as Amazon, LifePoint, Alliance Bernstein, Jackson National Insurance, Oracle and Icee will be relocating to the greater Middle Tennessee area. With all of this new business comes new job opportunities and an increased demand for housing.
What does this mean for The Grove? NOW is the time to buy your dream home in our premier private club community!
Positioned perfectly in the heart of Williamson County, The Grove provides convenient access to the lively business scene in downtown Nashville as well as the quaint charm of historic Franklin. With the area’s elite custom home builders, exceptional member services and the most comprehensive amenity offerings in the region, The Grove has become the number one selling private club community in the Nashville area.