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Goodall Homes Blog

Blog Category - Housing Market

Holidays at Hayden Hill

Categories: Goodall Homes, Goodall News, Housing Market, Knoxville, Realtor News | Posted: December 15, 2017

Join us for a fun and exciting event for the whole family.
Take pictures with Santa away from the madness of the mall!
We’ll have food and drinks and great times for all.

Where: 10817 Laurel Glade Lane Hardin Valley, TN 37932

When: December 16 & 17
1:00pm – 4:00pm

For directions visit:
www.GoodallHomes.com/Hayden-Hill
We’ll see you there!

Click Holidays at Hayden Hill Flyer for PDF Flyer

Nashville Wins Top Ranking as Hottest Single-Family Housing Market

Categories: Goodall News, Housing Market, Nashville | Posted: July 20, 2017

Tennessee builders rejoice! We’ve known it for years, but now it’s official – Nashville is the place to live.

According to a recent Tennessean article, Nashville has the hottest single-family housing market in all of the United States. Based on local growth in population, wages, jobs, and overall state of the economy, Nashville snagged the No. 1 ranking. Compiled by online real estate marketplace Ten-X Research, competing cities on the list included Orlando, FL, Fort Worth, TX, and San Antonio, TX.

Even better, Nashville posted the highest score in economic prospects out of the nation’s 50 largest housing markets. Fast-growing sectors include education, health care, leisure, and entertainment. Local employment has been increasing at a rate of up to 4% year-over-year.

Though the cost of living is rising at an equally fast pace, Ten-X said buyers needn’t worry about this affecting their budgets. While Nashville has also jumped to the top of the list for the fastest rising cost of living number, the affordability of individual housing still remains favorable.

Ten-X’s Top Single-Family Housing Markets Summer 2017 report attributes this to the fact that downsize risks are moderate due to prices having fallen only slightly during the housing burst.

“Unless there’s something unforeseen that disrupts the economy like a major employer moves out, it’s really well-positioned for the next few years,” said Rick Sharga, a Ten-X executive vice president.

We always knew that Nashville was the best place in the U.S., but now the whole country knows it too.
Read the full article by Getahn Ward.

Metrostudy: Q4 2015 Overview

Categories: Goodall News, Housing Market, Metro Studies, Nashville Area Homebuilder, Realtor News | Posted: February 29, 2016

NASHVILLE 4Q15 HOUSING: New Home Starts & Closings Surpass 3Q15 Records; Strong Demand Drives Up Prices; Lot Shortages Of Growing Concern

(From Metrostudy News, February 15, 2016.  Click HERE for direct link.)

FEBRUARY 2016 – Metrostudy’s 4Q15 field survey found that the Nashville MSA recorded 1,827 residential construction starts in the quarter, up 36% from 4Q14. Annual new home starts ending December 2015 numbered 7,395, up 19% from 4Q14. New construction starts in the fourth quarter set another new record high for the region, surpassing the prior record set in 3Q15. Quarterly closings numbered 1,852 in 4Q15, up 19.7% YoY and up 5% from 3Q15. Annual closings for 4Q15 totaled 6,529, up 12.7% YoY, setting a new record high for new homes sold in a 12-month period.

“Continued strong demand and supply in the Nashville region, evident in the record starts and closes in the fourth quarter, has translated to higher land and finished lot prices and eventually into higher new home prices,” said Eugene James, Director of Metrostudy’s Nashville region. “The single family detached median new home price in 4Q15 was $328,400 and the average price was $356,100, both all-time record highs.”

In 4Q15, Nashville’s total housing inventory, made up of model homes, units under construction, and finished vacant units, increased 26% YoY to 4,182 total units. The months supply for total housing inventory climbed to 7.8 months from a 7 months in 4Q14, within the 7 to 8 months considered equilibrium for the region. The overall months supply increase is primarily due to the rise in construction starts that increased the number of units under construction. In 4Q15 Under Construction inventory was 36% higher year-over-year at 3,241 units. Finished Vacant (FV) housing inventory increased from 3Q15 by a needed 23% to 826 units and the FV months supply increased to 1.5 from 1.3 months the prior quarter. With equilibrium at around 2 to 2.5 months of finished supply, the region continues to experience an under-supply of finished homes.

In lot development, the finished lot supply has been low all year and ended 2015 at a new record low. The 12 months ending December 2015 saw 5,138 new lots delivered to the market, fewer than in the same period last year. The fourth quarter lot delivery of 1,529 was similar to what was delivered in 4Q14 (1,596). More lots are currently in the development pipeline and are slowly being created, but with 7,395 annual starts outpacing 5,138 annual lot deliveries, this market’s lot shortage continues. Inventory of Vacant Developed Lots (VDLs) fell to 9,285 units, a 20% decline YoY and the lowest level on record. The VDL months of supply (VDL MOS) declined to 15.1, also the lowest on record, well off the normal of 24 VDL MOS of finished lots for the Nashville region and a decline from 22.3 in 2014 and 26.6 in 2013.

“The shortage of finished lots is spreading throughout the region and is a growing concern in the construction industry,” said James. “Four counties fell below normal finished lot levels of 18 months, with the most severe lot shortages in Rutherford County, at 10.7 months, Williamson, declining to 11.6, Davidson, down to 11.4, and Wilson at 16.5 months. The good news is the abundance of new lots and future subdivisions that are currently being created. We expect to see lot deliveries to increase in 2016.”

About Metrostudy

Metrostudy, a Hanley Wood company, is the leading provider of primary and secondary market information to the housing and related industries nationwide.  Metrostudy provides research, data, analytics and consulting services that help builders, developers, lenders, suppliers, retailers, utilities and others make investment and business decisions every day.  www.metrostudy.com

About Hanley Wood

Hanley Wood, LLC is the premier media, event, information and strategic marketing services company serving the residential, commercial design and construction industries. Through its operating platforms, the company produces award-winning digital and print publications, Newsletters, websites, marquee trade shows and events, Market Intelligence data and strategic marketing solutions.

What boomers want: Active adult communities designed just for them

Categories: Condominium, Cottages, Franklin, Gallatin, Goodall News, Housing Market, Lenox Place, Neighborhood, Nolensville, Realtor News, Subdivision, Sumner County, The Cottages at Bent Creek, The Tennessean, Williamson County | Posted: January 12, 2016

(This article is from the Tennessean on January 9, 2016.  It was written by Bill Lewis.  Please click here to view the original article.)

Lenox Place Model Home (Low Res) (10 of 31)

Patty Bellar wanted the comfort, convenience and security of a one-level home closer to her grandchildren, so she purchased a house in one of the growing number of Nashville-area communities restricted to homeowners 55 and older.

Her neighbors, from states including Illinois, Arizona and Michigan, had the same idea.

“All of us downsized to be closer to our kids and grandchildren,” said Bellar, who moved from Robertson County to the Cottages at Bent Creek subdivision in Nolensville, where Goodall Homes is building 36 homes reserved for buyers at least 55 years old.

“Any builder is smart not to ignore this market,” said Bellar.

A fast-growing market

Home builders are taking her advice and planning construction of more than 1,300 homes in age-restricted communities across the region.

A partnership of Craighead Development and Ole South, one of the area’s largest home builders, hopes to launch The Binns, a 500-home active adult community planned for 285 acres off Lebanon Road in Hermitage.

In Lebanon, 240 active adult residences are planned at Hamilton Springs, Middle Tennessee’s first mass transit subdivision, which is being developed around a depot for the Music City Star commuter train.

In Spring Hill, Del Webb is launching Southern Springs on the Maury County side of the city. The community will have 600 homes on more than 300 acres. The company previously developed the 1,000-plus-home Lake Providence community in Mt. Juliet.

“Of the 76 million baby boomers in this country, 50 percent are between the ages of 50 and 58, which makes the over-50 buyer one of the fastest-growing consumer groups. With the recent completion of our Lake Providence community, there is no active adult community to meet the housing and lifestyle needs of the active baby boomer in Tennessee,” said Jon Cherry, Del Webb’s president in the state.

Goodall Homes, the company that built Bellar’s house in the Cottages at Bent Creek, has just 10 homes left to sell in that neighborhood. This year the company expects to build an additional 30 homes at Lenox Place, an active adult community in Gallatin. Lenox Place will have a total of about 240 homes when it is full, said Chris O’Neal, the company’s chief sales officer.

“We hear a common theme from our customers,” he said. “Their children have moved out and they need something with less upkeep.”

Homes for active adults feature one-level living, no-step entries and interior doorways wide enough to accommodate a wheelchair. Exterior maintenance is performed by the homeowner’s association.

Bellar said those are the features she was looking for. She’s mobile and active, but was planning ahead.

“You don’t believe there will come a day, but I just didn’t want steps,” she said.

A successful blueprint

Bill Hostettler, chief manager of Craighead Development, said Del Webb’s success at Lake Providence proves that demand is growing for active adult communities.

“We want to copy Del Webb in Mt. Juliet,” he said of plans for The Binns in Hermitage.

Nashville has a lack of housing that appeals to the active adults moving to Middle Tennessee, said Hostettler.

“They want to live near the grandkids, but it’s hard for them to find a nice home on a small lot,” he said.

The community will feature homes ranging from 1,200 to 2,500 square feet. Most will be single-level, but some may feature an upstairs bonus room. That floor plan has proven popular in other communities because the bonus area can be converted to quarters for a caregiver.

The site’s current agriculture zoning allows homes on two-acre lots. The developers are requesting a change to allow 1.75 homes per acre. More than half of the 285-acre site will be preserved as green space.

The proposed site is near the city’s Stones River Bend Park and is close to shopping and a YMCA.

The developers intend to donate several acres for expansion of adjacent Hermitage Elementary School. They will give another 40 acres to the city to extend a greenway along the Cumberland River.

“Think about getting on your bike and riding downtown,” said Hostettler. “You could ride your bike to the football game.”

Reach Bill Lewis at 615-262-5862 or wlewis77229@comcast.net.

Four middle-Tennessee counties among top growing in the country

Categories: Davidson County, Housing Market, Investment Opportunity, Nashville Area Homebuilder, New Homes Nashville Area, Realtor News, Sumner County, TN Homes, Williamson County, Wilson County | Posted: October 23, 2015

(From WSMV Channel 4 on October 20th.  For link to article with VIDEO, click HERE.)

 

NASHVILLE, TN (WSMV) –

Nashville is expected to overtake Memphis as the biggest city in Tennessee in the coming years.

As fast as Nashville is growing, the surrounding counties are growing even faster. Four Middle Tennessee counties are among the top 100 fastest growing in the country.

Since 2010, Williamson County has grown 12 percent, making it the 34th fastest growing county in America.

Matthew Hill, redistricting supervisor with the state comptroller’s office, is in charge of making all the numbers make sense.

The comptroller’s office has taken all of the U.S. Census numbers and has come up with some new trends for the state.

“If you really look at Middle Tennessee, four of the fastest growing counties in the entire United States are here,” Hill said.

Montgomery, Rutherford and Wilson counties are experiencing double-digit growth. Sumner, Davidson and Maury counties are also growing rapidly.

Nashville could pass Memphis as the biggest metro area by the end of the year, but certainly will by the time of the next census in May 2017.

“You will see the trends of Nashville up 9,000 to 10,000 a year, and you see Memphis trending down,” Hill said.

Even with 41 Tennessee counties losing population, Middle Tennessee is so strong that the entire state is on track to replace Indiana as the 16th most populous state in the country.

By 2020, the state will know if it picks up a congressional seat. With redistricting, Middle Tennessee could have more congressional and statewide political power.

Nashville is now approaching Boston in terms of population.

Study: Nashville’s housing recovery strongest in the nation

Categories: GNAR, Goodall Homes, Goodall News, Housing Market, Nashville, Nashville Area Homebuilder, Nashville Business Journal, New Homes Nashville Area, Realtor News | Posted: May 13, 2015

(Written by Adam Sichko of the Nashville Business Journal on May 7, 2015.  Click here for the direct link to this article.)

Nashville’s housing market has rebounded stronger than anywhere else in the nation in the aftermath of the recession, according to a new study.

Nashville’s median home price today is 11 percent higher than the peak values before the recession struck — a net growth that’s the best of the nation’s 100 largest metro areas. Rounding out the top-5: San Francisco, Honolulu, San Jose and Columbus, Ohio.

That analysis comes from the financial website SmartAsset.com, which crunched federal data and numbers from the National Association of Realtors.

Here’s some of what the website said about Nashville:

Between the third quarter of 2007 and the first quarter of 2011, home prices in the Nashville metro area fell nearly 12 percent. In the four years since then, prices have surged, increasing by 26 percent since they hit bottom and reaching a level more than 11 percent higher than their pre-crisis peak.

SmartAsset excluded some cities from their study, such as Austin and Pittsburgh, because they did not experience a price decline of at least 10 percent from the pre-recession peak to the low point during the economic crisis.

As if on cue, data released Thursday by the Greater Nashville Association of Realtors bears out what the SmartAsset study found.

There were 2,940 closings in April (mostly single-family homes), a 6 percent increase from the same month in 2014, GNAR said.

The median sale was $224,945 — a jump of $20,000, or 10 percent, compared to April 2014.

“Inventory is increasing as predicted, but not at the rate that can keep up with demand,” said Cindy Stanton, president of GNAR and an agent with the firm Parks (formerly Bob Parks Realty).

Buyers flock to new neighborhoods in Franklin

Categories: Community Service, Franklin, Goodall Homes, Goodall News, Housing Market, Nashville Area Homebuilder, Neighborhood, New Homes Nashville Area, Realtor News, Single Family Home, Subdivision, The Tennessean, Williamson County | Posted: May 5, 2015

(Goodall homeowners Steve and Cindy Dycus were featured in The Tennessean on Sunday.  Bill Lewis reporting.)

Steve Dycus believes his newly built home in one of Franklin’s fast-growing neighborhoods is perfect now that the problem with deliveries has been solved.

When they bought their house last year, Dycus and his wife, Cindy, were among the first homeowners in the Lockwood Glen subdivision. The neighborhood was so new that it wasn’t on maps or in GPS databases.

“The first year, getting something delivered, it wasn’t uncommon to get a call saying, ‘We can’t find you.’ Getting cable and the phone installed took a little longer,” said Steve Dycus.

That’s a problem other homebuyers might be experiencing as the city’s population booms. Just 15 years ago, Franklin had a population of 41,842. Today, that number is about 70,000, and home builders are scrambling to meet demand from professionals moving to be close to their offices in Cool Springs or Nashville, empty-nesters downsizing from a larger home and, especially, parents who want their children to attend Williamson County’s highly rated schools.

They all discover “the Norman Rockwell, Currier & Ives vision of America that Franklin stands for,” said P.J. Littleton, affiliate broker for Westhaven Realty. The company sells homes in Westhaven, the master-planned community three miles west of historic downtown Franklin.

So far, 1,350 homes have been built in the community, ranging from small condominiums to 10,000-square-foot mansions, he said. When the subdivision is completely built-out, probably in 2027, it will contain about 2,700 homes.

New residents moving to Westhaven are often surprised by the small-town character of the neighborhood, said Littleton.

“The notion that you can ride your bike to school is mind-boggling to some people,” he said.

Demand is also soaring in the neighborhoods on the east side of Interstate 65, where hundreds of new homes are planned.

Potential buyers began lining up immediately when the Jones Company announced its newest development in Williamson County, Enderly Pointe at Ladd Park. The neighborhood will have 150 home sites along the Harpeth River.

“We turned on our landing page and were overwhelmed” as potential buyers visited the website and signed up to receive more information, said Jen Lucy, the company’s director of sales.

Prices in Enderly Pointe will start in the $320,000s, she said. That is below the median price of a home in Franklin, which in March was $446,300, according to the Williamson County Association of Realtors.

Buyers had a similar response at Amelia Park, the 149-home neighborhood being developed by Pulte Homes on the east side of the interstate.

“The demand at Amelia Park is very strong. We hosted more than 50 prospective homebuyers at our VIP preview event” in April, said Chad Ramsey, the company’s vice president of sales and marketing. Prices will range from $372,990 to $424,990.

When developer Wes Patterson announced plans for the Tap Root Hills subdivision next door to Amelia Park, 300 potential buyers signed up for more information. The development will have 139 home sites on 62 acres off Clovercroft Road and Market Street. Prices will range from the high $300,00s to the $700,000s.

Keith Porterfield, an executive with Goodall Homes, said the company has made a major commitment to Franklin, where it builds homes in the Ladd Park, Lockwood Glen, Rizer Point and Shadow Green subdivisions. The company built the Dycuses’ new home.

“It’s a place where people want to live. Somewhat of a small-town feel with boutique shops on the Square, but jump on the interstate and go to Nashville or Cool Springs,” said Porterfield.

Steve and Cindy Dycus bought a home in the Fieldstone Farms subdivision more than 20 years ago and later moved to Spring Hill. Their new home in Lockwood Glen is closer to their offices in Franklin and all the activities they enjoy.

“It’s a three- or four-minute drive to downtown Franklin if we want to eat at Puckett’s or go to the Franklin Theatre,” he said. “We’re happy to stay here the rest of our lives.”

Energy Efficiency Tops Wish Lists for New Homes

Categories: Carrelton, Community Service, Easy Living Home, Energy Efficiency, Gallatin, Gallatin Chamber of Commerce, Goodall Homes, Goodall News, Housing Market, Nashville, Nashville Area Homebuilder, National Housing Market, Neighborhood, Realtor News, Sumner County, The Tennessean | Posted: April 14, 2015

(This was written by Bill Lewis of the Tennessean.  For direct link, click HERE.  And to see accompanying video, click HERE.)

Along with granite counter tops and hardwood floors, Goodall Homes‘ newest model home showcases a feature that the company believes is at the top of the wish list for many people buying a new house — energy efficiency.

Goodall, one of the Nashville region’s largest home builders, added an Energy Room to its model home in Gallatin’s new Carellton subdivision. The room gives potential home buyers a behind-the-walls look at the energy saving features the company began building into all of its homes last July.

The response has been so positive that the company is adding Energy Rooms to its model homes in the new 614-home Millstone subdivision in Hendersonville and at its existing StoneBridge subdivision in Lebanon.

“It’s not as much fun as going on Pinterest” to look at pictures of paint colors and home decorating, “but the Energy Room gives us a tool to show how things work,” said Goodall Vice President Ryan Clinard.

Other builders have also concluded that energy efficiency is the new granite, something that customers have come to expect.

Compared to the cost of heating and cooling an older house, new homes are much less expensive. Those savings add up over the years, said John Burns, vice president of operations for Regent Homes.

“We’re not charging more for it. We think it’s something that appeals to customers. Everybody’s happy about saving money in a house,” he said.

Return on investment

Low heating and cooling bills were an added bonus for Jon and Caitlin Sell, who moved into their all-electric, 1,700-square-foot Regent home at the end of 2013.

They stay comfortable on the hottest and coldest days of the year without worrying about the expense. Their average monthly bill is around $115. Their highest bill, during last winter’s cold snap, was about $220.

“It’s kind of spoiled us. It was icing on the cake,” said Jon Sell.

Their house in Williamson County’s Woodside neighborhood has the energy saving features that Regent builds into almost every home, which Burns said include upgraded wall and attic insulation, a heating and cooling system with a Seasonal Energy Efficiency Rating (SEER) of 14, LP TechShield roofing and compact fluorescent and LED lights.

“We’re trying to put in the upgrades that will be of the most value,” said Burns.

Regent calls its homes Energy Smart. Other builders have their own features. Drees Homes, for example, includes improved thermal enclosure systems, energy efficient appliances and lighting and efficient heating and cooling systems in its DreeSmart Conservation Innovations program.

Celebration Homes builds every home to Energy Star standards, which the company says are at least 15 percent more efficient than a home built to comply with existing codes.

Ryan Homes says its BuiltSmart program uses advanced construction techniques, Energy Star appliances, efficient heating and cooling and environmentally friendly paint, carpet and other materials.

Every house built by Beazer Homes is Energy Star certified. Each house also receives a Home Energy Rating System (HERS) score, which rates energy consumption. A low score is desirable. Older homes score around 130 and many new homes score around 100. The average Beazer home scores a 65.

A matter of comfort

At Goodall, energy saving features include programmable thermostats, LP TechShield roofing, compact fluorescent lighting and 25 percent more insulation than the industry standard, which Clinard said make a home more comfortable as well as less costly to heat and cool.

“The market was starting to demand it,” he said. “People think quality is the amenities of the house. Quality is also the comfort of living in the house.”

Jon Sell believes his home’s energy saving features would add to its value if he ever decided to sell it. But those features also make it hard to think about moving.

“If we ever wanted to move,” he said, “it would be hard to get into something that’s not as energy efficient.”

Gallatin’s Charms Excite New Arrivals

Categories: Carrelton, Community Service, Foxland Harbor, Gallatin, Gallatin Chamber of Commerce, Goodall Homes, Goodall News, Housing Market, Lenox Place, Nashville Area Homebuilder, Neighborhood, Realtor News, Sumner County, The Enclave at Fairvue, The Retreat at Fairvue, The Tennessean | Posted: July 8, 2014

Check out this article in The Tennessean on Sunday, July 6, 2014. Gallatin is drawing a lot of new homeowners, and Goodall Homes is glad to have several neighborhoods in this area!

“Gallatin’s Charms Excite New Arrivals” (compliments of Bill Lewis of The Tennessean)

Market Graphics Research Group–Top 50 Builders Report (middle TN)

Categories: Davidson County, Goodall Homes, Goodall News, Housing Market, Nashville Area Homebuilder, New Homes Nashville Area, Realtor News, Sumner County, Williamson County, Wilson County | Posted: February 27, 2014

Market Graphics Research Group recently reported Goodall Homes as having a 34% growth in the number of new home permits pulled in 2013 over 2012.  With 361 new home permits during the calendar year of 2013, Goodall easily rose to the position of #2 on the Top 50 Builders Report (middle TN).  The number of permits pulled by Goodall Homes to start new homes broken down by county is as follows:  Davidson County (33), Sumner County (170), Williamson County (75), and Wilson County (83).  There are a lot of things that make a builder the “best”, and this report just captures a portion of the success of many builders in the middle-Tennessee area.  Building a lot of homes in a calendar year is great, but the true mark of being the best is based on much more than that–like quality, integrity, customer service, overall experience, warranty, convenience, affordability, location, desireability of floorplans, and more.

For the full Market Graphics Research Group report, please click HERE.

Congratulations, Goodall Homes employees, homeowners, and trades, for a very successful year!