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Nashville Real Estate Market Forecast for 2010

The Nashville housing market will experience an accelerated sales volume in 2010 aided by the government’s extension and expansion of the first time home buyers federal tax credit, more government-backed lending assistance, and historically low mortgage rates according to 90% of major forecasts for 2010.

Surrounding real estate markets will improve in the Southeastern U.S. with average housing deflation forecasted at 8.4% regionally. This figure represents the lowest amount of deflation on an annual basis in the past four years (actual price deflation over the past 4 years never reached the predicted decline). Nashville will only feel an estimated 5.2% of deflation overall with the hardest hit sectors being the luxury homes market over $600,000 and developer owned condominiums.

Reported unemployment peaked at 10.2% nationally, a number that has not been reached since the Great Depression. Most economists believe an economic recovery has begun, but with a suppressed job recovery anticipated, real estate will continue to experience price…

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Related posts:

1. Nashville Real Estate Market Report for June 2009
2. August 2009 Nashville Real Estate Market Analysis
3. May 2009 Nashville Real Estate Market Stats

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