Let me begin by saying that it is my belief that the market is slower than it should be, largely due to the continued promises of a Stimulus Package. I believe buyers/investors have been waiting for the government to take a path certain so, they will know how it could potentially affect them. Another belief is that investors are ladies in waiting. waiting for what they believe to be the bottom. Our national media seems to play a huge roll in this. Middle Tennessee real estate gets lumped in with markets that are suffering far worse than we are. Until people are educated on that fact, the media can manipulate our recovery to a degree.

The fact is that there has never been a better opportunity for homeowners and investors to purchase! Interest rates at or below 5% are unheard of… we are enjoying them now! You will get beat up on the sale of your property but, it is a wash since you will buy lower on your next purchase as well. The win scenario is in the interest rate and the bargains that can be found in the Smyrna and Murfreesboro Tennessee real estate markets. This is true residentially and commercially.

The stock markets have been beaten to a pulp and those tied into it will likely lick their wounds until it recovers enough for them to pull their money out and place it into the real estate market. With so many negative job reports being produced, the general public has moved into lock down. I believe public confidence is the leading problem locally.

Large markets in California and Florida have traditionally produced 1031 money from investors reaping the rewards of their over inflated markets. Middle Tennessee is very attractive to these buyers due to its growth and stable economy/property values. Middle Tennessee has long been seen as a great investment. Since those areas are worst hit, these investors have dwindled to a trickle, therefore eliminating a strong source of investors.

However, my outlook remains positive. In the coming months, the stimulus package will have a ripple effect into the economy and will likely bring some stability back to the psyches of both investors and Lenders. As public confidence builds and the job markets stabilize, I expect to see an increase in investment activity. Smyrna caters to many mom and pop type businesses. Since Nissan offered a buyout opportunity, several new small business owners have been in our market looking. I expect to see those people looking for affordable, available space to locate their new endeavor. Rutherford County has historically been shrouded from recessive periods. This time around, we seem to have been one of the last areas to feel the effects of this recession. I strongly believe we will be one of the first to feel the recovery.

James Yates, Founding Partner - Red Realty, LLC serves the communities of Smyrna, Lavergne, Murfreesboro and all Middle Tennessee real estate shoppers.

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