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Are Franklin TN Home Prices Falling

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Franklin TN Median PriceI get this question a lot lately, are home prices starting to come down in Franklin. It’s a good question, and the data seems to indicate that it is happening, but very slowly.  Franklin home prices are still considerably higher than they were at this time last year with the median sales price up 16% year over year. However, the number of homes sold for July of 2021 was 260, compared to just 155 this year, a reduction of 41%.  For the first time in many months, we have more homes available to sell that we sold in the previous month. Usually when this happens we start to see price reductions and competition for buyers instead of multiple offers for every home. The reason for the change is much higher interest rates compared to last year. The Federal Reserve Bank has decided that we need a recession to cool down the prices, and that is what we have.

    • 155 Franklin TN homes sold in the month of July compared to 260 for July of 2021
    • The median sales price for homes sold was $815,000 compared to $700,000 for the same month last year and $830,000 for June of this year
    • the average price per square foot was $318 compared to $258 for July of 2021 and $$320 for June of this year
    • 392 Franklin homes are currently listed in the Nashville MLS as available for purchase
    • 315 Franklin homes are under contract at this time, many of these are new construction waiting for completion

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Search for Franklin TN homes for sale here – information on this page is based on information on single family homes for sale in Franklin per the Nashville Multiple Listing Services, Inc. and is deemed reliable but, not guaranteed. View the top Franklin neighborhoods here.

This posting and the contents written here are the intellectual property and opinions of Larry Brewer of Benchmark Realty. Providing real estate services to clients in Nashville, Brentwood, Franklin, Spring Hill, Green Hills, and the middle Tennessee area

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(all data current as of 8/8/2022)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

 
 

 

Wades Grove Homes For Sale – July 2022

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Wades GroveWades Grove Homes for sale –  Prices in Wades Grove have started to moderate and homes are not moving as fast as they were in the Spring, or even last year. The average days on market for sold homes for the month of June was 24 days compared to just 2 days for June of 2021.

    • The average price of homes sold in Wades Grove during June of 2022 was $682,500 compared to $548,100 during June of last year an increase of 24.5%
    • the list price to sales price ratio of sold homes was 94.4%
    • 8 homes are under contract at this time
    • the average price per square foot of homes sold was $237 compared to $199 for the same month last year an increase of 19%
    • the average days on market for homes sold during the month was 24 days
    • 11 Wades Grove homes are currently listed in the Nashville MLS as available for purchase at this time.

Search for Wades Grove homes for sale here

 

Wades Grove is a community of all brick homes is Spring Hill Tennessee. Most of the homes currently listed or recently sold were built by John Maher, voted the best builder in Spring Hill for many consecutive years.

Williamson county is the leading the country in job creation, so it’s no surprise that home sales are also moving quickly. Spring Hill is a more affordable alternative to Brentwood and Franklin but it still has the benefit of fantastic schools and low property taxes. We expect homes prices to increase in the next 12 months, but not at the rate we’ve seen for the last few years.

Search for Wades Grove homes for sale here or search for Spring Hill homes for sale here

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(all data current as of 8/8/2022)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

 
 

Williamson County TN Homes – July 2022

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Williamson County Williamson County TN home sales are slowing down but the prices are still firm. The median price of homes sold in Williamson county increased 23% in June of 2022 compared to the same month last year but the number of closings for the month decreased 18%

  • 528 homes closed in June compared to 622 for the same month in 2021
  • the median price of homes sold was $$876,553 compared to $710,000 for the same month last year an increase of 23%
  • 1088 Williamson county homes are currently under contract
  • 893 homes are currently listed as unsold and available for purchase compared to 460 for the same period last year
  • the average days on market for homes sold in June was only 7 days
  • The absorption rate of Williamson county homes based on June sales is 2 months

The breakdown of sale by City in Williamson county are as follows

  • 23 homes sold in Arrington at a median price of $988,590
  • 62 homes sold in Brentwood at a median price of $1,550,000
  • 35 homes sold in College Grove at a median price of $1,009,855
  • 22 homes sold in Fairview at $446,700
  • 213 Franklin homes sold at a median price of $880,000
  • 58 homes sold in Nolensville at a median price of $978,834
  • 64 homes sold in Spring Hill Williamson county $598,038
  • 41 homes sold in Thompsons Station for $700,000

Search for Williamson county TN homes for sale here

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(all data current as of 8/8/2022)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

 
 

Spring Hill Homes for Sale – July 2022

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Spring HillSpring Hill homes for sale – Prices are still rising but at a slower pace with inventory levels rising and interest rates impacting the affordability index. Spring Hill is still a good alternative to the higher prices in Franklin and Brentwood if you want Williamson county schools.

  • 65 homes sold in Spring Hill during the month of June 2022 compared to 98 for the same period of 2021 and reduction of 33%
  • The average sales price of homes sold during June was $654,811 compared to $548,811 for the same period last year an increase of 19%
  • 78 Spring Hill homes are listed as available for purchase in the Williamson county portion of Spring Hill – more than we’ve seen lately
  • 71 homes are currently under contract pending sale, most are new homes waiting for completion
  • the average price per square foot for Spring Hill homes sold during the month of June was $255 compared to $195 for the same period last year, an increase of 30%
  • The median days on market for sold homes was still only 2 days

Inventory levels are improving due to the higher interest rates pricing some buyers out of the market. This may the be opportunity that buyers have been waiting for. Buy the home you want without getting in a bidding war and refinance the home when the rates come down.

Homes in Spring Hill TN are now averaging $255 per square foot compared to $346 in Franklin. so the homes are still a significant bargain for Williamson county.

Search for Spring Hill TN homes for sale here.

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For the most-up-to-date information on Spring Hill TN homes, then we urge you to contact us. We can assist you with all aspects of buying or selling real property in this and other neighborhoods in the Nashville Metro area. Also ask to be placed on an instant notification system when any new Spring Hill listings come on the market or price reductions in Spring Hill TN homes are posted.

information on this page is based on information on Spring Hill real estate in Williamson county per the Nashville Multiple Listing Services, Inc. and is deemed reliable but, not guaranteed. This posting and the contents written here are the intellectual property and opinions of Larry Brewer of Benchmark Realty. Providing real estate services to clients in Nashville, Brentwood, Franklin, Spring Hill, Green Hills, and the middle Tennessee area

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(all data current as of 8/8/2022)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

 
 

Franklin TN Homes for Sale July 2022

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Franklin TN homes for sale – Summer brought higher interest rates and slowing sales, so expect homes to stay on the market a few more days than we’ve seen recently.

  • 245 Franklin homes sold during the month of  June 2022 compared to 302 for the same period last year a reduction of 23% 
  • 324 Franklin homes are currently listing in the Nashville MLS as available for purchase
  • 297 homes are currently under contract
  • the median sales price for homes sold during the month of June was $$820,000 compared to $705,000 last year an increase of 16%
  • the median price per square foot for homes sold was $320 compared to $254 for June of 2021 
  • the average list price to sales price ratio for homes sold in June was 103%

Search for Franklin TN homes for sale here – 

Information on this page is based on information on single family homes for sale in Franklin per the Nashville Multiple Listing Services, Inc. and is deemed reliable but, not guaranteed. View the top Franklin neighborhoods here.

This posting and the contents written here are the intellectual property and opinions of Larry Brewer of Benchmark Realty. Providing real estate services to clients in Nashville, Brentwood, Franklin, Spring Hill, Green Hills, and the middle Tennessee area

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See all Real estate matching your search.
(all data current as of 8/8/2022)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

 
 

Nolensville Homes for Sale – June 2022

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Nolensville homes for sale –  Nolensville Home we are still in short supply of inventory and the prices keep rising. The median days on market for homes sold in May was 12 days.

  • 69 Nolensville homes sold in the month of May an increase of 50% over May of 2021
  • 79 Nolensville homes are currently pending sale, and almost all of them are new construction homes
  • 53 Nolensville homes are listed in the Nashville MLS as available for purchase, but most of them are still under construction or not even started
  • the median sales price of homes sold in Nolensville in May was $845,000 compared to $625,864 for May of last year, and increase of 35%
  • the list price to sales price ratio of homes sold was 101%
  • the median  price per square foot of homes sold was $271 compared to $202 for the same month last year an increase of 34%

Home buyers who are considering Nolensville also consider Thompsons Station and Spring Hill for the same reasons. It’s more affordable than Brentwood and Franklin, and the schools are fantastic. Some people live in Nolensville who work in Smyrna or Murfreesboro to take advantage of the schools in Williamson county.

search for Nolensville homes here.

For the most-up-to-date information on Nolensville homes values, then we urge you to contact us. We can assist you with all aspects of buying or selling real property in this and other neighborhoods in the Nashville Metro area. Also ask to be placed on an instant notification system when any new homes come on the market or price reductions are posted.

Return to Nashville homes search page

Benchmark realty can assist buyers in all forms of Nashville relocation needs including new construction houses, condos, townhouses, for sale by owner homes, residential lots, townhomes, lofts, and new homes in various subdivisions across the Nashville Metro region. information on this page is based on information on single family homes for sale in Nashville per the Nashville Multiple Listing Services, Inc. and is deemed reliable but, not guaranteed.

This posting and the contents written here are the intellectual property and opinions of Larry Brewer of Benchmark Realty. Providing real estate services to clients in Nashville, Brentwood, Franklin, Spring Hill, Green Hills, and the middle Tennessee area

information on this page is based on information on single family homes for sale in Nolensville per the Nashville Multiple Listing Services, Inc. and is deemed reliable but, not guaranteed.

  • List View
  • Map View

See all Real estate matching your search.
(all data current as of 8/8/2022)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

 
 
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