According to recently released numbers from the Greater Nashville Association of Realtors, Nashville area home sales were once again down last month compared to August 2015, which makes it the second straight month we’ve seen a decline in closings.
In total, the Greater Nashville area saw 3,741 closings last month, which is only about a 0.8% drop compared to August 2015. In July, sales were down over 3% from July of 2015, so last month’s decline is minimal to say the least.
So far in 2016, home sales are still up across the board, with the most recent tally now hitting 25,989 closings for the year. That’s roughly a 4.4% increase in sales compared to this time in 2015.
The slight drop in July and August isn’t terribly surprising. Traditionally, the summer season tends to be a slower time for the Nashville real estate market, and with much of Middle Tennessee still facing issues of limited inventory, a slight dip in home sales was almost expected by most industry professionals.