FRANKLIN, Tenn. (WMOT) -- Middle Tennessee’s housing market is white hot right now, and Williamson County is no exception.
The county Realtor’s Association reports that homes are typically selling in less than 30 days for an average price of just over $459,000.
Tim Thompson of Premier Realtors has been selling real estate from his downtown Franklin office for well over two decades. He says multiple offers and bidding wars are pretty routine.
“I went out to show one client the house and before I left there, there was six other clients showed up. They didn’t have an appointment, they just drove by, saw that a realtor was there. It ended up being a bidding war on that one.”
Thompson says people looking for good schools and a family atmosphere are driving the housing boom. But while the area’s rapid growth is a plus for him and the eight realtors he employs, there are problems.
Thompson says, for instance, that local municipalities are having a hard time keeping up, struggling to build new roads, water treatment facilities and schools fast enough. He also says that the number of new and existing homes for sale is so low that the number of properties sold has been essentially flat for some time.
For anyone determined to own a home in Williamson County, Thompson has some candid advice.
“If there’s ten contracts, you don’t have to be number eleven. Just sit by and wait, the market will change. I’ve been doing this 26 years. It will change.”
Additional story resources:
- The latest home sales numbersfrom the Williamson County Realtors Association?
- A link to Tim Thompson Premier Realtors?170802_tim_thomps_franklin_real_estate.mp3Listen to the complete interview with Tim Thompson