Industry News

Nashville reports banner year in real estate

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Annual home sales for the Greater Nashville, Tenn., area reached an all-time high in 2004 with strong December sales raising the totals past 36,000 for the first time, according to the Greater Nashville Association of Realtors. According to figures provided by GNAR, 36,469 homes were closed in 2004, representing a 14.4 percent increase from the 31,855 closings reported for 2003, previously a record year for area home sales. There were 2,885 closings during the month of December, up 11.2 percent from the 2,593 closings reported for the same month last year. Fourth-quarter closings totaled 8,748 for Greater Nashville, up 10.3 percent from the 7,931 closings during the fourth quarter of 2003. "The real estate market here is very healthy and we expect it to remain that way in 2005," said Richard Exton, 2005 president of the Greater Nashville Association of Realtors. "It is important to remember that we are at an entirely different level than we were five or 10 years ago. While it wou...