Industry News

Real estate sales rise in Nashville

Year-to-date numbers suggest record-breaking 2004

Home sales in the Greater Nashville, Tenn., housing market rose 8.6 percent in August from the same month a year ago, according to data released by the Greater Nashville Association of Realtors. There were 3,558 home closings reported for the month of August, compared to 3,275 closings reported for the same month last year. In comparing year-to-date closings for the Greater Nashville area, there were 24,604 closings in 2004. That's up 17 percent from the 20,909 closings reported through August of last year, and 2003 was the best year for home sales on record. "The number of home sales in Greater Nashville this year is truly remarkable. To be up 17 percent over what was a record year is a strong statement about the attractiveness of this area," said Jay Lowenthal, president of GNAR. "This trend validates the business, economic, legislative, social and quality of life environment represented in Middle Tennessee, not just the price of a home. Protecting and building on the s...