Nashville - Another City in the Southeast Leading Market Recovery

Nashville Market Report

Buyers considering active adult communities in Tennessee may find themselves considering Music City. Nashville is a great choice offering a high quality of life and nightlife, whether you decide to live in the heart of the city or in the surrounding Nashville neighborhoods. Retirees and job seekers can both find bliss in Nashville Tennessee. With no state income tax, the cost of living is reasonable and is about 5% less than the national average. Take a look at the most popular master planned communities in Nashville:

COMMUNITY NEWS

WESTHAVEN - FRANKLIN

One of the best examples of new urbanism, Westhaven is about 45 minutes south of downtown Nashville real estate. A community with walkable neighborhoods framed out by park-like squares and great lawns, zero lot line homes with wide front porches and garages accessed from back alleyways. Pearre Creek Elementary School and the Westhaven Towncenter are part of Westhaven’s master plan and are open for business. Resident's were busy planning Porchfest 2012, Westhaven's first community music festival scheduled for Saturday June 16th.

In our opinion, families who move to Westhaven in Franklin, choose the community because Franklin is part of Tennessee’s best school districts. But Westhaven isn't just for young families. Retirees consider it one of the finest active retirement communities in the area even though it is not age restricted. As we talked with locals in Nashville about Westhaven, many refer to Westhaven as ‘being out there’. To us, the charming town of Franklin offers a plenty of shopping, restaurants and everyday conveniences removing the need for a daily commute into Nashville. Our thoughts are shared about Franklin as this charming town is named one of America’s Most Beautiful Towns by Rand McNally.

Westhaven is one of Nashville's fastest selling neighborhoods reporting 115 closed sales in 2011 at an average price of $526k. This is a slight increase over 2010. According to MLS, Westhaven had 79 closed sales. The Westhaven Golf Clubhouse is about 75% complete and is scheduled to open in August this year. Property owners of Westhaven are not required to join the golf club. Westhaven’s community amenities are well maintained and the curb appeal is undisputed. There were about two dozen homes under construction in the walkable community. If Westhaven sounds like the right place for you, ask us to connect you with our contact who lives at Westhaven to find out about their new homes starting at $269k or any Nashville real estate.

THE GOVERNORS CLUB - BRENTWOOD

Home to the rich and famous, you can easily find 10,000 square foot homes at The Governors Club exceeding $6 million. During our visit last week, we toured homes priced under $700k. We believe a savvy buyer who understands the benefit of buying the lowest priced home in the best neighborhoods would be wise to explore The Governors Club. The main golf clubhouse, pool area and community entrance are well maintained. The second resident’s pool next to the tennis courts was waterless and appears abandoned. In reality, we see no need for two swimming pools anyway at The Governors Club. The Arnold Palmer Signature golf course is managed by Kemper Sports and a variety of types of golf membership are available.

In 2011, there 32 closed sales ranging from $598k to $2.9 million. There are currently 37 homes for sale ranging from $649k to over $6 million. We believe the majority of sales are due to corporate relocations moving away from Nashville real estate. If you would like to explore The Governors Club, ask us to connect you with our colleague who lives at The Governors Club.

FAIRVUE PLANTATION - GALLATIN

Our come back kid, Fairvue Plantation was a refreshing surprise after the Nashville real estate developer’s exodus due to bankruptcy. Buyers who prefer a quieter way of life yet want quick city access won’t want to miss considering homes at Fairvue Plantation, 30 minutes north of downtown Nashville. The European architecture and meticulous landscaping compliment the Bill Bergin championship golf course and rolling hills leading down to Old Hickory Lake, one of the best Tennessee lakes. Lakefront homes with dockage are available at Fairvue Plantation. Although it is not age restricted, it could be considered one of the best affordable golf retirement communities in Nashville on a lake.

Since KemperSports took over the golf club management in March 2011, club membership has increased from 550 members to over 700 members a testament to club member satisfaction. The club and golf course are independently owned. In 2012, the dining room was renovated and during our visit, the swimming pool was being resurfaced. We were informed no special assessments were expected for these amenity upgrades. One of Fairvue’s most popular builders, Phillips Builders reported a 50% increase in new construction in 2011 verses 2010. In 2011, there were 23 closed sales. There are currently 34 homes for sale at Fairvue Plantation ranging from $266k to lakefront homes priced over $4 million. Ask us to connect you with our colleague who lives at Fairvue Plantation. 

NEW APPROVED NASHVILLE REAL ESTATE:

BURKITT PLACE - NOLENSVILLE:

Developed by CPS Land, Burkitt Place is a newer affordably priced master planned community with homes overlooking rolling hills and preserved green open spaces. Amenities include a swimming pool, walking trail system and welcoming neighborhood parks. Builders include Celebration Homes, Drees Homes, Parkside Homes and Regent Homes. New home floor plans start in the low $200k’s.

PROVIDENCE - MOUNT JULIET

With quick access to Interstate 40, Providence’s location is one of the key attributes of this 1,000 acre master planned community. By train, the Music City Star stops in Mount Juliet providing public transportation into downtown Nashville. The Providence Marketplace with more than 70 brand name stores and a movie theater is biking distance from the Providence neighborhoods. Providence is a great example of new urbanism and is a walkable community with its own architectural style from traditional Americana to soothing coastal cottages. Community amenities include walking trails and the resort-style Providence Swim Club. Home prices begin in the mid $100k’s.

THE HIGHLANDS AT LADD PARK - FRANKLIN

Just off Interstate 65, this master planned community has some of the best long range views of Nashville we've seen to date and the community borders the Harpeth River. About 150 homes have been built to date of the 1,000 planned at Ladd Park. On the drawing board, a community swimming pool, cabanas and 150 acre riverfront park. Home styles reflect American Craftsman and Lowcountry architecture. Lots for sale are not easy to find as new home buyer’s compete with builders for the best lot locations. Home prices begin in the low $300k’s.

THE ICON IN THE GULCH - NASHVILLE

Unquestionably the hippest redeveloped Nashville neighborhood in downtown, the Gulch is booming with new contemporary condominiums, retail shops and outdoor cafes. We found the Icon in the Gulch the most interesting of the bunch confirmed by buyers interest. Icon in the Gulch set condominium sales records in 2010. The spa-like music, trendy color schemes and first class amenities have city dwellers competing for an Icon address and accessing this building isn’t easy. Empty nesters will find it hard to beat the price, location and lifestyle amenities of this best college town. The Icon in Gulch is also pet friendly. Only a handful of new condominiums are available starting in the mid $200k’s.

If you would like to be notified when we'ven approved more family and active retirement communities, write us at [email protected] or sign up for our newsletter.

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