Recently released data from Freddie Mac is confirming what many of us currently living in Middle Tennessee already know—the Nashville area real estate market is still red hot heading into 2017. As noted in the report, Nashville tops the Multi-Indicator Market Index, which helps determine which markets are among the healthiest right now in the U.S.
The MiMi ranking tracks the country’s 100 largest cities, and Nashville first claimed the top spot all the way back in April after ranking eighth at the end of last year. Specifically mentioned in the findings is the spike Nashville has seen in home purchase and mortgage applications, which of course is a clear indicator of not only market activity but also the local economic pulse as a whole as well.
The Nashville Post also noted that the city’s MiMi Score has jumped by over 10% year-over-year, which is actually a bit slower than its recorded growth back in the spring. Two of Tennessee’s larger cities, Memphis and Knoxville, ranked 89th and 75th respectively, while the comparable cities of Austin and Charlotte placed 10th and 44th on the most recent Multi-Indicator Market Index.