Nashville Market Report Q1 & Q2 2020

Nashville Market Report Q1 & Q2 2020 + Impact of Covid-19 on the Real Estate Market.

NASHVILLE MARKET REPORT

Q1 & Q2 2020 + IMPACT OF COVID- 1 9 ON THE REAL ESTATE MARKET

TABLE OF CONTENTS

A LETTER TO OUR CL I ENTS

GREATER NASHVI LLE

EAST NASHVI LLE

DOWNTOWN / SOBRO

440

THE GULCH / MIDTOWN

NASHVI LLE

WEST END / HI LLSBORO VI LLAGE

BERRY HI LL / MELROSE

GERMANTOWN

BRENTWOOD

SMYRNA

GREEN HI LLS / FOREST HI LLS

BELLE MEADE

FRANKL IN

THE NATIONS / SYLVAN PARK

MADI SON / HERMITAGE

MURFREESBORO

WI LL IAMSON CO.

RUTHERFORD CO.

FEATURED L I STINGS

1 18 PARTNER PERSPECTIVES

122 F INAL WORD

A LETTER TO OUR CLIENTS

“Stay-at-home,” “Shelter-in-place,” “Safer-at-home,” “Self-quarantine,” “Social distance.” These phrases were nonexistent this time last year. But now such colloquial encouragements are a big part of how we live our lives. Life has changed across the country, and we’ve felt that change strum the heartstrings of Music City. Nashville has taken its music indoors. We’re living our songs from our homes while we prepare meals for our families, advance our careers via video calls and email, exercise and socialize from home, get our fresh air on neighborhood sidewalks, and invest a lot more time in our backyards and front lawns. Now more than ever, Nashville residents are putting more time and energy into finding out what it means to be at home. The desire to make a house a home has multiplied, and our Compass team could not be more thrilled to help our neighbors in our communities achieve their dream home. At Compass, we help people buy and sell homes. That’s what it says in our mission statement, but we’ve found that Compass is about so much more than that. We take inspiration and invigoration not in a simple real estate transaction, but in what it means to help a family arrive in the perfect home, a home that is ideally suited for them. We help people find their place in the world, and that place begins with a home. We’re here to help you map out plans for your future, and you can consider this report a gift of valuable information on the Nashville market. When you’re ready to buy or sell a home in Nashville, we’ll help you find not just a house, but the perfect cornerstone of your future life.

GREATER NASHVILLE

JULY SURVEY OF COMPASS REAL ESTATE AGENTS

total number of Compass agents 242

total responses from Compass agents

“ SAFER-AT-HOME” ORDER

62% 34%

of agents had deals postponed

of agents pulled listings off market

*“Safer-at-Home” order went into effect for Metro Nashville on March 23 and State of Tennessee on March 30.

“This Nashville market data is exactly what we expected. What COVID-19 has done for Nashville is put us on everyone’s radar because our cost of living is so low. Even though prices here have gone up, it’s better than any other market that is equivalent. The four places we are seeing the most activity from are California, New York, New Jersey and Chicago. When you look at the Nashville market, we have no state income tax, no earthquakes, no forest fires or hurricanes. We have a beautiful state surrounded by national parks, we have four seasons and industries are coming here right and left. We are seeing a lot of clients retiring here. It’s more difficult and expensive to retire in a state like New Jersey and sustain the taxes on top of the cost of living there. We think this mass movement of people into Middle Tennessee is going to continue and Nashville will see its busiest year yet. Just last month, 40 percent of our closings were from out- of-state referrals. That’s never happened before.”

— THE PARGH TEAM

“Living in this COVID-19 world, so much has changed. As we look for some form of constants in our lives, one of the things that remains the same is the active real estate market in Middle TN. In some ways the data is surprising because the pandemic has impacted every aspect of our lives. Seeing Nashville bounce back so quickly is a testimony to how our city always overcomes adversity - coming back even stronger than before. Nashville is a special place. As people rethink where and how they live, it isn’t a shock that people from all over the country want to make Nashville their home!”

— MATT DALLY

WITH REOPENING COVID-19 has increased the desirability of Nashville as a place to live. No state income tax, a business-friendly environment, lifestyle options, more open space & affordability compared to much of the rest of the country, are just a few reasons why people have come to Nashville in droves.

We’re seeing people move out of urban areas into suburbs, and in Nashville, this trend is increased with the Metro property tax increase that went into effect on July 1.

of agents are seeing an uptick of buyers from out of state 80% of our agents believe there will be more buyers with reopening 88.5%

22% from the Northeast

69% from the West Coast

We assume prices will remain flat or increase slightly, there will be low inventory and high demand, creating a sellers’ market.

“In our experience, the number of local buyers and sellers is remaining consistent with past years. We have seen two major market changes that are changing things locally. First, there has been a major increase in the numbers of buyers coming from larger, more densely populated markets such as, Seattle, Chicago, New York City, and all of California. Nashville is no longer a “best kept secret.” Secondly, and the most surprising byproduct of COVID-19 for us has been the increased demand for luxury housing. This is seemingly a combination of people spending more time at home, and real estate being less expensive in Nashville compared to the markets people are moving from. The local property tax increase is something that was needed and should have incrementally been implemented in phases over the last 10 years. The can kept getting kicked down the road and a massive increase was necessary all at once. We don’t see this having a major negative impact on the Davidson County market because so many people buying are from other larger cities where their taxes are far higher than our increased taxes, and they get less benefits from them.”

— DARIN & CHRISTINA CUNNINGHAM

“There is no question in my experience that COVID-19 is reshaping our housing market. What is typically a “Spring” market has shifted into a mid-late Summer market and seems likely to continue through the Fall. Many are working from home, while some children are still schooling from home which has families reinventing their current spaces and even some who are searching for new homes to meet their “new needs.” While locals are trending towards the suburbs (particularly Williamson County) for tax relief and more space, the transplants from the Northeast, Midwest and West Coast seem unfazed by the Davidson County tax increases. The decrease of days on market is indicative of low inventory, interest rates, many buyers but fewer sellers. While prices continue to uptick or remain level, an increase in inventory and higher interest rates could change this landscape. If jobs and the economy continue to bounce back at the current rate or better, the home market going forward is expected to be driven by millennials.”

— AMY B. WYATT

GREATER NASHVI LLE INS IGHTS Despite “Safer-at-Home” being in effect 6 of 14 (43%) weeks of Q2, Greater Nashville Market held strong and saw growth:

8% 17%

More New Listings

Increase of Homes Sold

DOM

$275k–$287k

Median Price Sold Increased

670,820

DATE

1/20

2/20

3/20

4/20

2/20

3/20

% CHANGE

NEW LISTING

6, 505

6, 033

6,987

1 9, 525

6, 287

7, 246

7, 656

21 ,189

8 . 52%

SOLD

3, 415

3, 635

4 , 504

1 1 , 554

4 , 002

4 , 31 9

5 , 206

13, 527

17.08%

Nashville Population *U.S. Census Bureau, July 2019

AVG DAYS ON MARKET

57.33

-8 .99%

MEDIAN SOLD PRICE

269

275

280

274.67

282

285

293

286.67

4.37%

“The strength of the Nashville real estate market has never been more evident than today. Even in the midst of a global pandemic, average prices continue to rise and sales made a quick recovery compared to our counterparts in different parts of the country. The change in buyer desires (more square footage, more outdoor living) coupled with low inventory has challenged my team to find more off-market opportunities for our buyers and to best position them to win in the increasing bidding wars. Marketing for our listings must now reach consumers where they are spending the most time, at home. With so many people wanting to make Nashville home, the real estate market is stronger than ever.”

— GABRIELA LIRA

“The Nashville market has always been a unique one. It’s insulated in a way other markets are not and with its still affordable home prices, lower cost of living, mild seasons, centrality and countless accolades, it’s no wonder that Nashville avoided a downturn during the pandemic. People are looking for more room within their homes and in their outdoor spaces. They are looking for better weather, lower taxes and a higher quality of life during this time. Nashville offers all of this and more. The desirability of Nashville shows with our lack of inventory, the increase in sold homes in Q2 over Q1 and the drop in time spent on the market. There are no signs that Nashville is slowing down any time soon.”

— JESSI SGARLATA

EAST NASHVILLE

Historic, thriving, electric, artsy, and hip, these words describe one of the most spell-binding, memorable neighborhoods in Nashville. You’ll find wonderful experiences, tasty food, stunning murals, and expansive park spaces in East Nashville. Since the devastating blow of the March tornado, East Nashville has shown its solidarity as a community that helps each other out. There has also been a strong surge of new listings in the area, making accessible a neighborhood that is coveted and desired by many.

EAST NASHVI LLE INS IGHTS

222 301

35.59%

$435k $473k 2.53%

Q1 New Listings

Q2 New Listings

% Change

Q1 Median Sale Price Q2 Median Sale Price % Change

169 180

6.51%

52.3 34.3

34.39%

Q1 Sales

Q2 Sales

% Change

Q1 DOM

Q2 DOM

% Change

“The combination of low inventory, low interest rates and an enormous buyer pool of folks relocating from other cities given COVID-19, has created the most competitive market I have seen in East Nashville. The March tornado took out a large portion of inventory that was ready to go on the market, and more buyers than ever are coming to East Nashville. Relocators are coming in droves because the quality of life they loved in California, New York and Chicago, is different now. I’ve been telling sellers if you’re thinking of selling in the next six months, do it now. Interest rates were slashed in half and are at a historical low, which makes locking in a primary residence or investment property right now an incredible time to do so. With inventory at nearly half of where it should be, I believe the market will stay competitive going into the winter months when we typically see a slow down, but winter 2020-2021 shows no signs of softening.”

— ROBBIE DRIMMER

DOWNTOWN/SOBRO

Colloquially titled “SoBro” (South of Broadway), this neighborhood is the gem of downtown Nashville. Home to major attractions like the Music City Center, Omni Hotel, The Southern, Etch, and Pinewood Social, here you will find urban living with all the best 21st-century amenities. And did we mention SoBro is just a short walk from Broadway honky-tonks?

With consistent development and growth, it’s no surprise that SoBro has seen new listings increase from Q1 to Q2.

DOWNTOWN/ SOBRO INS IGHTS

52 59

13.46%

$375k $420k 11.81%

Q1 New Listings

Q2 New Listings

% Change

Q1 Median Sale Price Q2 Median Sale Price % Change

28 19

32.14%

64 72

13.09%

Q1 Sales

Q2 Sales

% Change

Q1 DOM

Q2 DOM

% Change

“While this data is overall positive and indicative of high demand for Downtown/SoBro housing, the inevitable aftershocks of COVID-19 have yet to disrupt these numbers to date. With great thanks to the visionaries focused on waterfront development along both sides of the Cumberland River, Nashville’s Downtown/SoBro housing market will survive the shocks and shifts of time notwithstanding the present pandemic and imminent presidential election. Downtown Nashville has the grid, the grit(s), and the glory to stay alive and thrive!”

— RACHEL MAYS

THE GULCH/ MIDTOWN Hip, cool, and modern, The Gulch is a perfect medley of top notch urban living, stylish boutiques, offices, fantastic restaurants, and one-of-a-kind entertainment venues. Once the site of Nashville’s bustling railroad, this neighborhood has been developed and modernized to create a trendy, walkable, popular Nashville destination. Residential sales in The Gulch and Midtown are currently down, but a significant surge in new listings came about during Q2, giving enthusiastic buyers a wide selection of fantastic options.

THE GULCH/MIDTOWN INS IGHTS

151

228

50.99%

$417k $500k 19.98%

Q1 New Listings

Q2 New Listings

% Change

Q1 Median Sale Price Q2 Median Sale Price % Change

126 69

45.24%

44 59

32.33%

Q1 Sales

Q2 Sales

% Change

Q1 DOM

Q2 DOM

% Change

“I think sellers will be encouraged by Q3 and Q4 sales numbers. We experienced delayed sales activity this year with our historically busy March/April transitioning to a very active June/July. Traditionally, real estate activity slows after the Spring rush but we are seeing sustained growth which I believe will continue through the Fall and into the Winter months. With plentiful new construction coming online, sellers will garner a higher price and reduce their marketing time by cosmetically updating prior to bringing a property to market.”

— MICHELLE MALDONADO

HILLSBORO/WEST END

Close to universities like Vanderbilt, Belmont, and Lipscomb, Hillsboro/West End combines the convenience of modern living in a major city with the unmatched nostalgia of a small college town vibe. Hillsboro/West End is also walking distance to Music Row, Belcourt Theatre, several parks, and plenty of shopping opportunities, giving residents everything they need to live the good life, all within a few blocks of home! A neighborhood coveted by many, residential listings from Q1 to Q2 almost doubled (88% increase), yet average days-on- market dropped almost 50%, indicating these properties are moving fast.

HI LLSBORO/WEST END INS IGHTS

141

88%

$588k $603k 2.49%

Q1 New Listings

Q2 New Listings

% Change

Q1 Median Sale Price Q2 Median Sale Price % Change

50 75

50%

74 44

40.27%

Q1 Sales

Q2 Sales

% Change

Q1 DOM

Q2 DOM

% Change

“The eclectic mix of new construction, renovations and historical properties will continue to drive the list prices in Hillsboro West End to record levels for the remainder of 2020. It is tough to imagine a better time to move your property in this neighborhood.”

— PATRICK HIGGINS

BERRY HILL/MELROSE

A growing, vibrant neighborhood, Berry Hill/Melrose is known for its eclectic shops, recording studios, music publishers, and locally-owned small businesses. Enjoy fine dining eateries like M.L. Rose, Hatti B’s Hot Chicken, and The Sutler Saloon. From charming cottage homes to new developments, a house feels like a home in Berry Hill/Melrose. A neighborhood that emanates a verve of life both unique and uplifting, it’s no surprise that new listings have increased quarter over quarter in Berry Hill/Melrose, or that the neighborhood has also experienced new business growth each year.

BERRY HI LL/MELROSE INS IGHTS

121

160

32.23%

$655k $599k 8.55%

Q1 New Listings

Q2 New Listings

% Change

Q1 Median Sale Price Q2 Median Sale Price % Change

62 74

19.35%

63 54

14.81%

Q1 Sales

Q2 Sales

% Change

Q1 DOM

Q2 DOM

% Change

“Keeping up with its local vibe and situated adjacent to Nashville’s 12th South neighborhood, The Melrose/8th South neighborhood is rapidly developing into one of the most sought after in Nashville. The area remains more commercial than residential for now, but expect to see more condo developments along with new construction homes in its future, providing even more Nashville residents’ living opportunities. Both tourists and locals have discovered what a vibrant community Melrose has to offer, including some of Nashville’s top-rated public and private schools. The Melrose/8th South neighborhood not only provides walkability to restaurant life and excellent schools, but the big-box grocery store, Publix, has planted its roots right in the heart of town. Its doors will open in the next six months, and its presence should add to the average appreciation of 6.5% a year to all the neighborhood’s homes.”

— MARTHA MONTIEL-LEWIS

Listing by Martha Montiel-Lewis

GERMANTOWN

Incorporated into the city of Nashville in 1865, Germantown maintains its iconic history in its restored buildings, centennial houses, and verdant parks, all while embracing a charming, chic- modern appeal in its shops, restaurants, and recreational centers. Germantown was severely affected by the March tornado. However, the neighborhood has rebounded with a steady stream of new listings from Q1 to Q2.

GERMANTOWN INS IGHTS

176 210

19.32%

$375k $389k 3.83%

Q1 New Listings

Q2 New Listings

% Change

Q1 Median Sale Price Q2 Median Sale Price % Change

109 103

5.5%

66 80

21.32%

Q1 Sales

Q2 Sales

% Change

Q1 DOM

Q2 DOM

% Change

“Noted for its second-to-none restaurants, coffee culture, and evening activity, Germantown has become quieter during the pandemic as market attention shifts toward more suburban areas. This year’s market steadiness in Germantown, contrasted with typically rapid price acceleration, offers a unique and likely fleeting opportunity for buyers. The number of recent luxury home sales points to long-term appreciation of Germantown’s unique charms. The first time a neighborhood home sold for over $1 million was in early 2015, and now, only five years later, Germantown is flirting with a $2 million high bar. With its enviable walk score, the neighborhood remains at the core of North Nashville investment interest, which overflows into the adjacent Salemtown, Buena Vista, Sulphur Dell, and Neuhoff communities.”

— DAVID KOELLEIN

GREEN HILLS/ FOREST HILLS Living in Green Hills/Forest Hills feels like stepping into a fairytale arbor setting. Though the neighborhood is close to luxury shopping districts, high-end retailers, famous restaurants, and excellent schools, the mature trees and forests in this region have been preserved and well-tended, offering a coveted setting of forested, private living right in the heart of Music City. Large, historic, and stunning inside and out, Green Hills/Forest Hills homes are highly sought after and prized among Nashville locals and visitors alike. In fact, while there’s been a 20% increase in listings from Q1 to Q2, average days on the market for homes in Green Hills/Forest Hills has steadily decreased, indicating growing interest in the area.

Listing by Jonathan Heard & Lacey Newman

GREEN HI LLS/FOREST HI LLS INS IGHTS

210 255

21.43%

$741k $679k 8.33%

Q1 New Listings

Q2 New Listings

% Change

Q1 Median Sale Price Q2 Median Sale Price % Change

153 123

19.61%

76 65

15.28%

Q1 Sales

Q2 Sales

% Change

Q1 DOM

Q2 DOM

% Change

“Green Hills & Forest Hills have always been popular areas of town for Nashvillians due to their closeness to downtown coupled with a spacious, residential feel. It is typical to see new listings increase exponentially from Q1 to Q2 as children get out of school and families look to relocate before August. The only reason for the decrease in sales and sale price is the pandemic, and we expect to see a tremendous rebound in Q3. We anticipate inventory will continue to be fairly low and buyer demand will drive sales prices even higher. One of the biggest trends we’ve seen in the housing market in this area in the past few years is the influx of new residents from New York, California and other major cities.”

— JONATHAN HEARD & LACEY NEWMAN

BELLE MEADE Known for nationally famous attractions like the Belle Meade Plantation, Cheekwood Estate & Gardens, and Percy Warner Park, Belle Meade is further renowned for its stunning homes. This neighborhood was developed within the territory of the former historic Belle Meade plantation, hence why the suburban paradise features large lots, mature trees, quiet, winding streets, and a cozy, peaceful aura. Not surprising given the beauty and peaceful nature of this neighborhood, the average number of days Belle Meade homes spend on the market has decreased by half from Q1 to Q2, indicating a surge of buyer interest in the area.

Listing byJana Jones-Duffy

BELLE MEADE INS IGHTS

20 23

15%

$1.83M $1.37M 25%

Q1 New Listings

Q2 New Listings

% Change

Q1 Median Sale Price Q2 Median Sale Price % Change

12 13

8.33%

84 40

52.59%

Q1 Sales

Q2 Sales

% Change

Q1 DOM

Q2 DOM

% Change

“Belle Meade is different from the rest of the Nashville market because of its unique location and the prestige of the established area, larger lots and proximity to Belle Meade Country Club, Cheekwood and Percy Warner Park. Trends in Belle Meade show you’ll pay $1 million-plus for an acre of land and a tear-down house. $2 million homes that once had a hard time selling are now flying off the market and we expect that to continue. Days on the market numbers have been cut in half partly because there are a number of new builds and rehab projects as well as the competition among families with the same need. Buyers are having to get more aggressive and are willing to pay a little more to ensure they will get the house they want. We expect that to continue leading up to a strong start to 2021.”

— LANA & FRANKLIN PARGH

THE NATIONS / SYLVAN PARK The Nations and Sylvan Park are two of the most desirable “up and coming” neighborhoods in Nashville. Both neighborhoods have recorded a strong increase in new listings and sold homes. Sylvan Park features quiet, peaceful, well-kept residential blocks. The community is ideally positioned near prominent thoroughfares that feature great restaurants, large green spaces, historic buildings, and a straight shot into the city. Furthermore, Sylvan Park homes have consistently held their real estate value, even through the Great Recession. The Nations has a history and culture of its own. Constantly evolving, always a new shop to check out or a new delicatessen to try, The Nations is a prominent destination for new Nashville businesses and homeowners alike.

THE NATIONS/ SYLVAN PARK INS IGHTS

422 516

22.27%

$401k $403k 0.67%

Q1 New Listings

Q2 New Listings

% Change

Q1 Median Sale Price Q2 Median Sale Price % Change

254 334

31.5%

Q1 Sales

Q2 Sales

% Change

Q1 DOM

Q2 DOM

% Change

“In Sylvan Park, the prices have skyrocketed, and the new construction in the neighborhood is more desirable than the older homes in the area that aren’t as spacious. Sylvan Park has a highly-ranked elementary school, the park and restaurants are walkable, and it’s close to Vanderbilt and St. Thomas hospitals. A strong proof point is that it’s challenging to even find a home on the market in this neighborhood. The Nations has evolved in many ways, particularly in terms of home styles compared to what was being built in 2016-2017. Because of that, it’s attracting a more sophisticated buyer - young professionals with dual incomes who like the walkability to restaurants and bars. Essentially no home in The Nations is on the market for more than a few days - the higher days on market stats you see are because new construction homes are listed before they are completed.”

— MEGAN JERNIGAN

MADISON/HERMITAGE

Just north of East Nashville, Madison is not only a great place to live, but this area is ideal for investing. The sooner the better too, as the median sale price is slowly climbing. The neighborhood is attractive for its current affordability and its proximity to East Nashville. And just 15 minutes from downtown Nashville, Hermitage features unique attractions like Andrew Jackson’s Hermitage, The Hermitage Farm, Stones River Greenway, the Percy Priest Dam, and a panoply of parks, bicycle paths, lakes, rivers, and gardens. While both Madison and Hermitage are growing rapidly in popularity, each neighborhood has seen an increase in new listings quarter over quarter, giving potential buyers options in choosing the home of their dreams.

MADI SON/HERMITAGE INS IGHTS

364 478

31.32%

$259k $270k 4.38%

Q1 New Listings

Q2 New Listings

% Change

Q1 Median Sale Price Q2 Median Sale Price % Change

300 302

0.67%

58 45

22.54%

Q1 Sales

Q2 Sales

% Change

Q1 DOM

Q2 DOM

% Change

“This data is a testament to how strong our real estate market is. Madison’s affordability is allowing it to grow into one of Nashville’s new hot areas while still maintaining its original North Nashville personality. Sales are up, prices are rising and days on the market are shrinking. I would expect to see this to continue for the remainder of 2020.

Hermitage is experiencing a boom of new construction and it is long overdue. The proximity to downtown Nashville and the airport, combined with price, are putting this city on the map.”

— HAILEY GILLUM

Photo Courtesy of Andrew Jackson Foundation

Out of the city but still just a short drive from it, Williamson County includes beautiful and historic areas like Franklin, Leipers Fork, Thompson’s Station, and Brentwood. Also enjoy smaller communities and a more rural lifestyle in Fairview, Nolensville, or Peytonsville. As Nashville grows, new listings, sales, and median sale price increases quarter over quarter in Williamson County. This region is idyllic and peaceful, a rural paradise of rolling hills, farms, stables, and forested lands. The Natchez Trace Parkway runs right through Williamson County, offering unmatched scenery. WILLIAMSON COUNTY

WI LLIAMSON CO. INS IGHTS

Q1 New Listings % Change 2,365 2,734 15.6% Q2 New Listings

$522k $530k 20.37%

Q1 Median Sale Price Q2 Median Sale Price % Change

Q1 Sales % Change 1,178 1,418 20.37% Q2 Sales

59 53

10.73%

Q1 DOM

Q2 DOM

% Change

“Our numbers for 2020 were all up compared to 2019, but I believe if not for COVID-19 they would have been stronger. March 2020 median sales price was the only monthly decrease from 2019. I saw a big change with days on market in land in May and June - people were tired of being cooped up and were buying land. Properties that had been on the market for months were finally selling. Williamson County school system is known for being a leader in the state in academic achievement. In my opinion, that has always been a major attraction to the area - now with COVID-19, more people are relocating here. We continue to have less inventory so the days on the market have decreased. I believe our market in Williamson County will remain strong for the rest of the year because of our great leadership statewide and county wide.”

— JENNIFER BICKERSTAFF

“The Brentwood and Franklin markets continue to be incredibly strong! My experience in the past few months, as the markets have come back to life, is that “if a property is good, it’s gone.” Buyers have been wary of taking on a project house which has pressed prices higher for new and like-new inventory. At all price points, now is a great time to sell; we have motivated buyers moving from parts of the country with a much higher median price point making our homes look like a deal. Interestingly, the highest price points have been seeing the most movement. Homes over $2M that have traditionally taken sometimes months to sell are moving in days. Now is the time to make a move to take advantage of future appreciation as our community continues to grow.”

—BRIAN COURNOYER

A magnet for new residents and businesses, Rutherford County is a part of everything that metropolitan Nashville has to offer, but at a more affordable price point. Rapid development, a spike in sales from Q1 to Q2, and an eye for the aesthetics in urban design and planning has made “RuthCo” a modern day suburbia, ideal for anyone who desires a comfortable life just outside the city. Rich in Tennessee history and culture, Rutherford County is also home to historic sites like Stones River National Battlefield, Oaklands Mansion, Bradley Academy Museum, Historic Cannonsburgh Village, and the Sam Davis Home and Museum. RUTHERFORD COUNTY

RUTHERFORD CO. INS IGHTS

Q1 New Listings % Change 2,624 2,827 7.74% Q2 New Listings

$277k $289k 4.21%

Q1 Median Sale Price Q2 Median Sale Price % Change

Q1 Sales % Change 1,530 1,934 26.41% Q2 Sales

49 44

11.49%

Q1 DOM

Q2 DOM

% Change

“At the beginning of COVID-19, no one truly knew what to expect; however, the second quarter numbers show that COVID-19 has had the reverse impact that many sellers and buyers anticipated. The shortage of inventory has caused an even tighter demand for housing thus driving up prices. In Rutherford County, I am seeing a huge push towards buyers opting to go with new construction, with builders saying they have never been this busy and build costs are increasing, which will affect pricing and standard features. I anticipate prices to go up. There was already a tight supply of homes available as investors/hedge funds purchasing over the last few years have taken away from the available supply. Housing demands should increase as sellers reanalyze what home now means. Bigger yards for gardening and pools, as well as office space for working from home or homeschooling, will now be key factors in purchasing.”

—TERRY CARTER

FEATURED LISTINGS

Listing by Katie Morrell

7 Oxmoor Court | Brentwood

513 Legends Ridge Court | Franklin

Wonderful French Country Manor style home on the central most street in Governors Club overlooking the 4th green. Two master suites, each on a walk-in floor with individual garages. Theatre room, 3-floor elevator, wine cellar/safe room, amazing pool with hot tub and waterfall, mahogany office, eat-in kitchen, formal dining room, summer kitchen, multiple family rooms, new paint, new flooring, and so much more.

Breathtaking Views in Legends Ridge! This incredible 5BR 4 full and 3 1/2 BA home with unobstructed views of Williamson County cannot be replicated! Previously a builder’s personal home, the details will amaze you! It is situated on 1 acre with serene outdoor living spaces and features a flat yard with room for a pool. Features include a Chef’s kitchen with Thermador appliances, two dishwashers, wine refrigerator, open to breakfast/dining room, living and family room, spacious master suite with sitting area and access to private jacuzzi tub. The basement has endless possibilities! Solid Core Doors to the immaculate heated and cooled garage, not a detail was spared! The views and privacy of this home will make you feel like you are a million miles away from everything! Please call Jennifer Bickerstaff for more details.

Brian Cournoyer brian.cournoyer@compass.com M: 615.917.4995 | O: 615.475.5616

Jennifer Bickerstaff jennifer.bickerstaff@compass.com M: 615.504.2118 | O: 615.475.5616

9546 Thoroughbred Way | Brentwood Privacy abounds this amazing 1.3AC hilltop retreat just minutes from I-65! This 4BR 3 1/2BA home features recently added 880 +/-sq ft family room that also includes an exercise room/flex room, additional dining area, and a beautiful stacked stone fireplace. Owners have completely renovated the kitchen with top of the line appliances. The owner’s suite is on the main floor and has a sitting area with built in bookcases. Other features include a formal dining room, fireplaces in the living room and breakfast room. There are also 3BR and 2 BA upstairs with a bonus room. This is a perfect home for entertaining indoors or out! Other features include lush landscaping with sprinkler system, open deck/porches, paver patio for grilling, a screened porch and so much more!

708 WMain Street | Franklin Spectacularly renovated 1900s home in the heart of Historic Downtown Franklin. This Kate Williams designed 4 bed, 4 full bath renovation is truly a luxurious, historic getaway just a few steps from all the shopping and restaurants Downtown Franklin has to offer. Original hardwood floors, honed marble countertops, handcrafted custom shelving reclaimed from the turn of the century rafters, tasteful shiplap accents throughout. Gourmet Kitchen, Bertazzoni gas range. Private showings available.

Jennifer Bickerstaff jennifer.bickerstaff@compass.com M: 615.504.2118 | O: 615.475.5616

Matt Dally matt.dally@compass.com M: 615.663.6981 | O: 615.475.5616

5024 Franklin Pike | Nashville Professionally designed and custom-built home with a backyard oasis that will keep you busy all year long, complete with an outdoor “living room,” gunite pool, hot tub, grilling station, and double-sided fireplace. This spacious beauty brings the outside in with large windows and an open floor plan. Architecture elements include accent walls, tall ceilings with exposed beams, and thoughtful details throughout. Expansion space for a 5th bedroom. Beautiful centrally located 2-acre lot in Oak Hill.

4017 Wallace Lane | Nashville Elegantly updated and spacious home within walking distance to Julia Green Elementary School. The transitional interior can lean contemporary or traditional depending upon your taste. Featuring a heated saltwater gunite pool and two covered patios - one with an outdoor fireplace, this home has ample outdoor living space. Master Suites on the main level and second level. The fully renovated eat-in kitchen is full of high-end appliances and beautiful blonde hardwood throughout.

Heard Newman Team heardnewmanteam@compass.com M: 615.800.7076 | O: 615.475.5616

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919 Stuart Lane | Brentwood Stunning Brentwood home with a full basement, 5 bedrooms and a resort style inground pool. This home resides in the popular Fountainhead community located just off Franklin Road. Inside you will find 5 fireplaces spread throughout the home, a home office, a formal living and dining room, a beautiful chef’s kitchen, and a sunroom.

709B 49th Ave North | Nashville Sleek, contemporary, modern style detached home with designer lighting & impressive interiors. No carpet here - sanded & finished wood floors throughout with quartz countertops & subway tiles in baths. Stainless appliances with a gas range for your cooking cuisines. Tall ceilings with warm paint colors & glass enclosed showers in the master. One bedroom down offers options for a guest or office space. Enjoy this city as you are minutes from downtown and close access for work commutes.

Hailey Gillum hailey.gillum@compass.com M: 615.474.7797 | O: 615.475.5616

Terry Carter terry.carter@compass.com M: 615.294.3148 | O: 615.475.5616

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1100 Inglewood Drive | Nashville

259 Vaughns Gap Road | Nashville This amazing modern home built by Landon Development is loaded with custom design selections. From the unique and distinctive oversized master bathroom, to the his-and-hers custom-designed closets and full prep kitchen and pantry, this home spares no detail. Enjoy the wooded view from the covered outdoor living space. Then inside, the home features a built-in wine wall, solid wood floors and soaring vaulted ceilings. This new custom home is situated on a two-acre lot in the heart of West Meade. Visit 259VaughnsGap.com for more information. 1/16" = 1'-0" 3 Sales-Front Elevation

The Avery will offer a collection of 20 modern 2-bedroom/ 2 bathroom and 3-bedroom/ 3-bathroom condos inspired by the art, passion, and charm of Inglewood in East Nashville. Each unit, including two penthouses, has stainless steel appliances, beautiful all-wood floors, and are zoned to allow non-owner occupied short-term rentals with proper permits. Reserve now to take advantage of pre-construction pricing and Sophisticate Your Stay by the Summer of 2021. Unit prices range from $349k to $500k. The entire complex is available for purchase as well for $8,500,000. Visit TheAveryNashville.com for more information.

REAR PORCH 24'-0" x 23'-0"

T.P.

GARAGE 25'-6" X 33'-0"

KITCHEN 23'-0" X 23'-0"

BENCH

PANTRY/PREP 8'-6" X 14'-6"

MASTER BR. 18'-0" x 23'-6"

CLOSET 1 11'-6" X 10'-6"

BR. 5 22'-0" X 14'-0"

FAMILY RM 24'-6" X 16'-0"

BONUS RM. 20'-9" X 16'-6"

WINE

WET BAR

BATH 5 9'-6" X 7'-0"

SHELVES

PICTURE WALL

CLOSET 8'-0" X 7'-0"

BATH 3 10'-6" X 7'-0"

CL0SET 9'-0" X 7'-0"

STORAGE

MUD-RM 10'-6" X 9'-8"

LAUNDRY 14'-6" X 9'-8"

FOYER OPEN TO ABOVE

M. BATH 16'-6" X 14'-6"

DINING 20'-0" X 14-6"

CLOSET 8'-0" X 7'-0"

SITTING AREA 11'-0" X 9'-0"

FOYER BELOW

BATH 4 9'-6" X 7'-0"

LOUNGE 15'-6" X 10'-6"

POWDER

Lana and Franklin Pargh The Pargh Team lana.pargh@compass.com M: 615.351.7333 | O: 615.475.5616

Lana and Franklin Pargh The Pargh Team lana.pargh@compass.com M: 615.351.7333 | O: 615.475.5616 BR. 3 13'-6" 14'-6"

BATH 2

STUDY 13'-6" X 13'-0"

GUEST BDR-2 14'-6" X 16'-0"

CL.

BR. 4 22'-0" X 14'-0"

CLOSET 2 13'-6" X 13'-0"

CLOSET

FRONT PORCH

BENCH

1/16" = 1'-0" 2 Sales-Second Floor

1/16" = 1'-0" 1 Sales-First Floor

PROJECT INFORMATION

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STYLE

LIVING

FOOTAGE

DETAILS

813 Deercrossing | Nashville This home will absolutely blow your mind! You will be hard pressed to find better outdoor living anywhere in Nashville. Absolutely no expense has been spared here! If you have extremely refined tastes and desire privacy with a 10+ convenient location and views, this is it! The list of features is too long to put here. Please inquire for additional information on this private 2 acre estate with a large pool house that connects to the home.

514 Garfield Street, Unit 8 | Nashville Province Builders new construction in a prime Salemtown / Germantown location with high-end features throughout and a roof top terrace that has downtown skyline views. Enjoy a life with walkability right outside your front door! 20 total homes in this development.

Darin Cunningham darin.cunningham@compass.com M: 615.456.4086 | O: 615.475.5616 Christina Cunningham christina.cunningham@compass.com M: 615.394.4168 | O: 615.475.5616

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The Ludlow, Residence 507 | Nashville

The Ludlow, Residence 205 | Nashville

The Ludlow is a collection of 64 residences ranging from 550 – 1400 square feet. Offering the best of all worlds – brand new construction set in Historic Buena Vista, steps to Nashville’s burgeoning Germantown neighborhood which offers some of Nashville’s most chic dining and elegant boutiques. Residence 507 is an open floorplan with a one bedroom + flexible office, ideal for those who work from home or desire a home gym. Priced at $399,900.

Residence 205 at The Ludlow conveys a feeling of refined living infused with forward thinking architecture – clean lines, airy interior, large scale windows that provide abundant natural light and a carefully curated finish package. Set across over 1400 square feet, this residence is spacious and offers two bedrooms + flexible office – a perfect home for those seeking space with an option to comfortably work from home. Priced at $499,000

Megan Jernigan megan.jernigan@compass.com M: 615.594.1990 | O: 615.475.5616 Martha Montiel-Lewis martha.montiel-lewis@compass.com M: 931.338.0082 | O: 615.475.5616

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1804 Lakehurst Drive| Nashville

1815 Boscobel Street | Nashville

Breathtakingly beautiful Spanish Villa in the coveted pocket of “Little Hollywood,” steps to Shelby golf course, and dozens of East Nashvilles best restaurants, coffee shops and retail. Situated on a professionally landscaped .61 acre lot, this home will truly take your breath away. Featured in several local publications, this property will make you the envy of all your friends. From the private veranda, outdoor fireplace’s, gorgeous archways and designer finishes, this one checks all the boxes!

Absolutely gorgeous Victorian Replica in the heart of Lockeland Springs. Property includes a detached 2 Car Garage apartment. Stunning wrap around porches, picket fenced front yard and directly across the street from hundreds of miles of running and cycling trails at Shelby Park. Open concept layout with hardwoods throughout. First and 2nd floor master bedrooms with on suites, double sided gas fireplace, huge kitchen with wet bar and private screened in porch off the back of the home.

Robbie Drimmer robert.drimmer@compass.com M: 615.462.6636 | O: 615.475.5616

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The Adelicia - #1108 | Nashville 900 20th Avenue South | 2 beds, 1 bath, 1,121 SF, listed at $575,000. Spectacular one of a kind Adelicia two-bedroom. Converted unit featuring two fully enclosed bedrooms, large living room, spacious open kitchen with upgraded matte stainless appliances and tons of cabinet storage, hardwood floors throughout, floor to ceiling windows, private balcony, large closets, 2 parking spaces, and beautiful Southside views of lush greenery, Scarritt Bennett, and more - all in the heart of Midtown!

The 1865 - #113 | Nashville 612 21st Avenue North | 2 beds, 1 bath, listed at $499,000. Brand new, never lived in, fully furnished NOO STR approved unit in the heart of the city just 2 miles from downtown! Unit includes two bedrooms with one full bath, additional vanity and sink in the primary bedroom, living and dining spaces, washer and dryer, and bonus private exterior entrance. Luxurious furnishings and all daily living and kitchen supplies included. The gated complex boasts a community pool and outdoor bar, fitness center, and a shared observation deck with downtown views.

Michelle Maldonado Team mmteam@compass.com M: 615.260.4423 | O: 615.475.5616

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1091 Lynnwood Blvd | Nashville Notable mid-century modern marvel in Forest Hills renovated by international award renowned architect Michael Goorevich and upscale designer Katy Chudacoff. Painstaking attention to quality, livability, and maintainability. Equal parts entertainer’s wonderland and family retreat, featuring an exquisite pool area, chef’s kitchen, to-die- for owner’s suite, and flex space in spades. The 1.86-acre corner lot spans a hillside, combining treetop views with a level floor plan.

5813 Vine Ridge Drive | Nashville Welcome to the catbird seat of Hillwood. Stunning new construction by custom luxury homebuilder, Landon Development. Spacious floor plan with several flex spaces to satisfy all your COVID living needs. Exquisite finishes, with no detail spared. Soaring ceilings, oak floors, abundant windows, chef’s kitchen with Thermador appliances, two laundry rooms, two wet bars. Enviable main-floor owner’s suite. Several outdoor living spaces on almost an acre lot. Very private. A must see!

Gabriela Lira gabriela.lira@compass.com M: 615.440.6327 | O: 615.475.5616

Patricia Straus patricia.straus@compass.com M: 615.305.8465 | O: 615.475.5616

Gabriela Lira gabriela.lira@compass.com M: 615.440.6327 | O: 615.475.5616

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1502 Arthur Avenue | Nashville This stunning newly-built home is just minutes from downtown! It’s equipped with smart appliances, hardwood floors, custom-tiled bathrooms, natural light, ample storage and an attached 2-car garage. The main floor consists of an open concept with a gorgeous kitchen and spacious living area. The 3rd floor bonus room has French doors leading to a balcony with incredible views! Don’t miss out on this beauty!

3722 Bosk Lane | College Grove Stunning one of a kind, gorgeous two-story home with newly finished walk out basement. Sits on a private two acre cul de sac lot in the established Grove Park neighborhood. Country living at its finest with over 4,800 sq. ft, 4 beds, 4.5 baths. Amazing views from the front & back. Updates throughout, new upper deck & walk- out basement with covered patio, three car garage, close to 840 and Arrington Vineyards. Zoned for award winning Williamson County schools. Small unique neighborhood with no HOA. Listed at $1,100,000.

Jessi Sgarlata, The Southbound Group jessi@southboundgroup.com M: 615.587.6722 | O: 615.475.5616

Julianne Richard julianne.richard@compass.com M: 713.571.8887 | O: 615.475.5616

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PARTNER PERSPECTIVES

119

MAGNOLIA TITLE

FIRST COMMUNITY MORTGAGE

Ryan Lux | Attorney Leslie A. Garside | Managing Attorney Joshua L. Hunter | Owner & Attorney 615.712.6391

FCM NMLS# 629700

Marty Maitland 615.480.5626 | NMLS# 590283 marty.maitland@fcmhomeloans.com

Claudia Rios 615.495.4456 | NMLS# 439473 claudia.rios@fcmhomeloans.com

leslie@magnoliatitle.com www.magnoliatitle.com

Q. Given the challenges this year, what impacts do you expect in the title & real estate industry in Nashville? A. The biggest challenge presented as a result of COVID-19 has been determining the best and safest routes we can take to facilitate closings. While it didn’t become the immediate norm as many anticipated originally, we do believe that the industry will continue to work toward holding more “e-closings” as surrounding industries like lending and finance figure out a way to make it work. Another issue we have noticed with social distancing requirements is that the normal personal and celebratory nature of a residential transaction is lost as a result of fewer people being present at the closing table. We are continuing to be creative and figure out ways to make the closing day feel special for our buyers and sellers. Q: What else do you think people need to know about the state of your industry? A: As is pretty well known, Nashville is hitting some really high marks on sales numbers this summer. Likewise, our industry is thriving and helping to carry that load as we finish Q3 and move into Q4. We are remaining optimistic as rates continue to stay low that we’ll continue to see a lot of positive numbers through year end.

Q: How has COVID-19 changed the way you do business in Nashville? A: Our business relationships thrive on in-person meetings, closings and other group and networking events. A lot of those in-person meetings have now become virtual, and we’re reaching clients and potential customers via other methods like increased online presence and short Zoom webinars. Our hope is that we’ll soon be able to return to more of the in-person gatherings of the past…we miss them!

Q. Given the challenges this year, what impacts do you expect in the mortgage & real estate industry in Nashville in the coming weeks & months? More long-term? A. Currently, we continue to see a strong real estate market in Nashville and see little volatility. It seems that the current economic and health issues may have the potential to slow down the growth in the upcoming months, but this will depend on multiple factors, including the elections and the recovery of the hospitality and services sectors in our region. It seems that we have strong economic fundamentals in general and we are still an attractive destination for companies and families that want to increase their quality of life in a thriving region like ours. Long term, we may potentially experience delays in construction given potential supply shortages and therefore slower production. Q: Do you think right now is a good time to buy a home? A. Yes, especially because the mortgage interest rates are at historic lows (and with a presidential election over the next 60 days) and you have more motivated sellers trying to capitalize on the value of their homes. With the support of a real estate professional, it’s very likely that you will find great opportunities in this market. Q: How has COVID-19 changed the way you do business in Nashville? A. The current health crisis has boosted the use of digital platforms to do more transactions online. Having the right technology is becoming

increasingly important. We have seen a boost on the use of our mobile app by our Loan Officers, Real Estate Agents and Clients. The health and safety of our employees, business partners and clients is very important for us, which has made us enable a series of preventive measures all across our organization; from an elective remote-work strategy and virtual meeting spaces to a sanitization protocol. Q: What is something that your company offers that is unique to other lenders? A. Our market is becoming increasingly more diverse and at First Community Mortgage, we have established a Multicultural Lending Team that specializes in addressing the unique needs of homebuyers from diverse ethnic backgrounds. Our Hispanic initiative established in 2016 has helped hundreds of families become sustainable homeowners. We have developed financial programs that assist borrowers using ITIN/W7 to file their taxes, and for those under DACA, Asylum or other Visa Status we offer a competitive mortgage program with low down payment. Our team provides customer service in Spanish and Arabic. We understand that buying a house is one of the biggest financial transactions, and we thrive on providing a low stress experience to the homebuyers with superior personal attention and multiple options to successfully go through the mortgage process.

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