Affordable Areas in Nashville

 

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The Nashville we know and love is currently undergoing a rapid transformation fueled by a massive influx of new residents. While the city has long been a destination for creative people to converge and collaborate, there’s been a recent surge of businesses making the metro Nashville area their new home.  From tech startups to corporate headquarter relocation, businesses of all sizes are bringing new urbanites to Nashville. This population insurgence has lead to a boost in home prices for many areas of town.  

For evidence of this rapid home appreciation, look no further than the “The Nations” neighborhood, located west of downtown Nashville, where the median home price has skyrocketed 86% in just over two years. In Dec. 2014 the media value was $173,000, fast forward 3-years later and it’s $321,000 as of Jan 2017.

With the population and home values rising all over town, it can be difficult to find affordable areas that haven’t already been developed. To help, we’ve identified three parts of Davidson County that are on the rise with a selling point at an average of $215,000 or less. So, if you are looking to find a nice home at a reasonable price or an investment in a “HOT” part of town, these 3 areas are worth a peek:

 

Bordeaux: Located 5-10 minutes northwest of downtown, across the Cumberland river, this neighborhood has experienced steady growth as of late. Since September 2016, the average sales price in the area has increased $18,310 (10%) and home inventory is shrinking quickly.  However, with average sales prices in the area still around $200,000, people are able to find reasonably priced homes with great value and upside in a convenient location.

Antioch/Priest Lake: The only area in Davidson County with an average price under $200k (as of Feb.1 it was $189,324). Act quickly, with average sales prices steadily increasing, days on market decreasing, and inventory plummeting, it might not be affordable for much longer.

Goodlettsville: In just 3 months the average home price in this area has increased $17,208 (9%) with a steady decrease in home inventory, evidence that more people are moving in than out. With average home prices still around $215,000 it’s easy to see why people are flocking to this quiet area.

 

If you would like to see properties in these areas or other parts of middle Tennessee, visit our home search site or give us a call at 615-933-1000.

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