Nashville Property Market and Real Estate Guide
(Nashville, Tennessee - TN, USA)
Nashville is one of the most vibrant cities in the US, known around the world for its leading role in the music industry. The nightlife and live-music scene has made this one of the most popular cities in the country to rent or buy property.
Nashville real estate is moderately priced, especially when compared to the much more expensive properties elsewhere. In fact, Nashville provides outstanding value for money, especially when compared to other state capitals that offer the same high-profile existence and scope of facilities.
Prices certainly took a hit during the global recession, but on the whole, property values in Nashville held out much better than many other US cities. While this is not a good time to own an existing property in Nashville, investors are cautiously optimistic about buying a home at this time, especially near popular downtown districts like the West End.
Renting Serviced Apartments
Serviced apartments in Nashville are ideal for business travelers, longer-term tourists and anyone who wants to check out the local scene before committing to buying property. Units are available in all price ranges and suit tenants from any background.
While they do not necessarily guarantee discounts over basic hotel rooms (though discounts are offered for long-stay commitments), serviced apartments usually offer more space, better furnishings and (depending on the unit) a higher degree of service. In this sense, they offer better value for money. They become even more cost-effective when staying for more than just a few days. Franklin, Brentwood and downtown Nashville are all popular places to rent serviced apartments.
Buying Apartments and Houses
The most affordable homes are in Brentwood, with its excellent shopping district. Historic homes in Franklin (outside of Nashville) fetch higher prices, while condominiums in downtown Nashville go at a premium. The latter is where prices are most likely to appreciate, as Nashville is going through late renaissance as its music scene evolves.
Overseas property buyers are welcomed in Tennessee. When buying property here, expect to put one to two percent down as earnest money. Local mortgage firms are likely to require a down payment of 20 to 30 percent. Beyond this, closing costs usually weight between three and seven percent of the sale cost. A well-versed real-estate agent is a great resource for foreign property buyers.
Real Estate Agents
Finding a reputable real-estate agent in Nashville is straightforward, though it is worthwhile to look around for someone who understands the implications of foreign investment in this context. This won't necessarily be the person with the largest portfolio, so it's wise to drop in on a few for personal consultations before making your choice.
Check out the following Nashville realtors and real estate agents:
Nashville Real Estate
Address: 175 Burton Hills Boulevard, Nashville, Tennessee TN, 37215, USA
Tel: +1 615 425 3952
The Anderson group is a team of specialists based out of Nashville, featuring luxury homes in the area.
J Dudley Schiel Real Estate Advisor
Address: 2319 Crestmoor Road, Nashville, Tennessee TN, 37215, USA
Tel: +1 615 498 7101
This real estate agent was raised in Nashville and understands the local market well.
Realty Trust Auctioneers, LLC
Address: 3200 West End Avenue, Suite 500, Nashville, Tennessee TN, 37203, USA
Tel: +1 615 390 2727
As a leading marketing firm for real estate auctions, Realty Trust Auctioneers specialises in high-quality West End properties.