Nashville home sales rebound from pandemic slump, but closing prices still down
NASVHILLE, Tenn. (Mike Osborne) -- The Nashville real estate market appears to be putting pandemic concerns in the rear-view mirror.
Home sales in the nine-county, Nashville Metro market rebounded sharply in July, according to data provided by the Greater Nashville Realtors Association.
Home sales were off sharply in April and May, but broken even in June, then climbed higher in July.
Metro median home values also tanked in late spring, losing $21,000 off the average sales price. Home values began rebounding in July, but are still off more than $15,000 from highs enjoyed earlier in the year.
The rebound in sales and home values can be attributed to the desirability of the Greater Nashville area, as well as “low-interest rates and consumers relocating to Nashville as remote working options are more available," according to Great Nashville Realtors Association President Kristy Hairston.