Inventory has been a big topic for discussion when it comes to Middle Tennessee real estate in 2016, and in many ways, it’s also been the one major hurdle in what’s otherwise been a very active year around the Nashville area from a market standpoint.
But as we make our way towards the end of the year, many industry experts are fully expecting construction to pick up in 2017, with more evidence of that possibility already coming earlier this week. According to reports from both The Tennessean and the Nashville Business Journal, Middle-Tennessee-based developer Regent homes is planning a large-scale new home community in Cane Ridge, TN, which sits just 25 miles outside of Nashville.
Being called Burkitt Ridge, the aptly named community will be situated on Burkitt Road in Cane Ridge and encompass approximately 150 acres if approved, although details have still not yet been finalized.
As noted by The Tennessean, two individual proposals are currently being discussed: the first would include single-family homes, townhouses, 40,000 square feet of retail space, and 180 assisted living units; and the second would include 1,200 independent and assisted living units, a rehab center, a school, and a church.