RED REPORT – 3rd Quarter 2019

Middle TN Home/Condo Sales Report 3rd Quarter 2019 Issue.

The Red Forecast

The third quarter wrapped up above last year’s third quarter to keep 2019 at 4% above 2018 after a slow start in the beginning of the year. Most expected 2019 closings to be similar to 2018 with a modest increase in prices. Assuming nothing unforeseen occurs in the fourth quarter, these predictions will probably be correct.

I believe the lower mortgage rates have helped sales continue to remain strong. I’m sure most of us will be watching the national economy the fourth quarter to see how it may affect the real-estate market next year here locally. I don’t have enough data to give a solid opinion yet, but my gut says Middle Tennessee will once again outperform the national market averages. We’ll continue to gather data/opinions of those a lot smarter than I am so we can give more direction in the coming months. It’s great to be a Tennessean, especially Middle Tennessee.

We’ll see many of you at the Middle TN Economic/Housing Forecast event on November 18th that Red Realty is hosing. All tickets are sold out, but if you would like to be added to the waiting list, please email rsvp@redrealty.com and we’ll try to accommodate those requests if others cancel.

Thank you,

Steven Dotson
President