RUTHERFORD COUNTY, Tenn. (WKRN) – Demand for single family homes is at an all-time high, with half of U.S homes selling above list price.
As we know, demand is high and supply is low.
According to Zillow, 60 percent of homes in the Nashville area sell within a week of listing.
The growth we’re seeing in Middle Tennessee isn’t stopping, and that remains true for Rutherford County.
“Everybody wants to live here,” Rob Mitchell, Rutherford County Assessor of Property said.
Of the top ten most in demand zip codes in the Nashville area, Rutherford County has four of them.
The top ten zips codes:
37013 Davidson County
37211 Davidson County
37122 Sumner County
37128 Rutherford County
37130 Rutherford County
37064 Williamson County
37066 Sumner County
37167 Rutherford County
37129 Rutherford County
37027 Williamson County
“You think of Rutherford County, you think of Murfreesboro. You got Smyrna, Christiana, you know those rural communities are becoming more and more popular,” Ricky Haynes, a realtor with RE/MAX Homes and Estates, Lipman Group said. “Man, things are closing. At least title companies are getting things closed in a matter of weeks.”
Data from Redfin shows the sale price for a Rutherford County home is up 12 percent over last year, sitting at $320,000.
Mitchell says the price shouldn’t deter hopeful buyers.
“We’re still the affordable housing king in Middle Tennessee and the numbers show it,” Mitchell said. “We have the lowest median price per home in all of the donut counties surrounding Davidson County.
Shortage of inventory in the housing market and high demand pushes the market values of homes upward.
Mitchell reminds all Rutherford County residents that all properties will be brought to current market value again in 2022, meaning the tax burden will be redistributed and equalized.
“Your values will be going up,” Mitchell said. “Now that doesn’t mean specifically you’ll see an increase in your taxes, so long the county or local city makes the decision to adopt a revenue neutral rate, but that’s all based on what they need to spend tax dollars on. It is important that you pay attention to your current property value and the information the Assessor’s office has on file. If there is an error, please bring it to our attention so there can be a correction.”
Every county in the state will be going into property appeals on June 1.
You may examine your record here.