The Appointment Desk
The good news is the Appointment Desk, which sets appointments for showings for realtors from real estate companies throughout Middle Tennessee, is actually showing a steady increase in the number of showings.
This reflects the current thinking that home buyers in the Nashville and Tennessee area are seriously looking for homes but they still have a mindset of waiting to see if the Nashville real estate market has reached the rock bottom yet.
This can be equated to the consumer waiting for the stores to announce the final clearance sale. Basically, no one wants to buy a home and then 2 months later find similar homes selling for less money.
As more and more incentives are being offered to the buyers we will see that the pent-up demand from buyers that have been leasing, renting, staying with friends, in corporate housing etc will soon entice the buyers to "pull the trigger"
The appointment desk is usually the first to see the rise in activity and since January 2014 the activity has almost quadrupled over the showings in December 2012.
February and March are predicted to show a spike in the number of real estate sales and this will be announced to the local media which will probably then set off a wave of transactions as buyers do not want to miss the boat!
Update: This has proved to be very true and in August 2016 we have seen a dramatic rise in the number of multiple offers and buyers becoming more aware that the real estate values in Nashville are on the rise again.