Nashville Real Estate Blog - Blog Archive: August, 2012

information relating to real estate in Nashville Tennessee

Nashville Real Estate Blog - Blog Archive: August, 2012 Close
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August 2012

Found 10 blog entries for August 2012.

Ask anyone living or working in East Nashville and they will tell you that right now, this is one HOT area – and no, we’re not just talking about the temperature outside. We’re talking about real estate conditions, where prices are rising, inventory is down, down, down, and where buyers once again have to compete for the properties they want.

For years, the Cleveland Park neighborhood in East Nashville has been overlooked, but now it seems that times are changing. Smart buyers are quickly realizing that the neighborhood is one of the best places in the city to snap up attractive homes at affordable prices. The area’s rich mix of freshly renovated, historic homes and modern developments, and its close proximity to many of the major attractions in

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Home sales in the Nashville area have increased by an astonishing 27.4% over the last month compared to one year ago, in the strongest sign yet that local real estate markets are on the road to recovery.

The report, which comes from the Greater Nashville Association of Realtors, said that a total of 2,754 homes were sold in Nashville in July, compared to 2,021 homes in July 2011. This figure represents the highest number of homes sold in one month in Nashville since June 2008.

Kendra Cooke, president of the Greater Nashville Association of Realtors, said that the increase in July home sales is a reflection of the sustained growth being experienced by Greater Nashville's real estate market in 2012:

“We’re fortunate enough to be seen continued

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Both residents of Nashville and its visitors will agree that traffic congestion in the city can get  frustrating, particularly throughout rush hour.

The traffic of Nashville is known in history. To illustrate, the musical black comedy film Nashville by Robert Altman starts off with a typical traffic jam of the city. On the other hand, alternative rock music band The Bellyachers composed a road song entitled “We Blamed Nashville.” Another musical group of three female singers hailing from Nashville is called Traffic Jam.

Three major interstates all converge at one point by Cumberland River, in downtown Nashville. A single car crash can already halt almost a third of commuters. Triple that and the entire city suffers a complete gridlock.

With steps

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A developer in Nashville has announced plans to construct a 110,000 ft.², seven story office building at the city's Green Hillssite, having previously won planning approval for smaller building at the vacant site.

The new concept will be considered by Nashville planning commissioners on September 27. The plans, submitted by EP Real Estate Fund L.P., were put on ice at a previous meeting of the commissioners this month.

EP Real Estate Fund L.P., has already made a number of investments in commercial real estate in Nashville, and is also planning to construct a 120,000 ft.² parking structure at the vacant lot on the corner of Burton Hills Boulevard and Hillsboro Pike. Previously, the investment fund had had a plan accepted or a four-storey, 54,000 ft.²

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The Nashville skyline is already pretty notorious for its unusually shaped buildings, but if the local property developer gets his way, the cityscape will soon have its most distinctive shape yet.

Travis Kelty, owner and president of Impakt Real Estate, is envisaging building an acoustic guitar shaped skyscraper that will tower over the city and will serve as an iconic landmark in the USA’s much-loved capital of music.

“I came up with the idea a few years ago,” said Kelty. “I went out and bought a guitar for my wife, and when I flipped it onto its side, I looked at it and I thought ‘that would make a fantastic building!’”.

The guitar shaped skyscraper, which is still in the planning stage, would include space for offices, restaurants and residents.

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Real estate experts in Nashville say that the local market is being held back is being by the so-called ‘shadow inventory’ of unoccupied bank-owned homes that have yet to go on the market.

The latest report from the Greater Nashville Association of Realtors shows that home sales in the area jumped by 26% last July, while median prices are also on the rise, standing at $181,250 - up by $1,350 from July 2011.

What with prices on the rise, and available properties been snapped up at an ever faster rate, Nashville realtors are now worried that inventory could become a problem in the city. According to Kendra Cooke, president of the GNAR, available inventory in the area has dropped by 16% in the last 12 months, leading to just seven months overall supply.

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Widely recognized as a center of the music industry, Nashville is given the nickname “Music City.” But 200 years ago, none of the residents knew that they were establishing an industry that would be synonymous with the city: one of the first hymnals was produced by a Nashville company; a native composed a popular Civil War song; and a cappella ensemble Fisk Jubilee Singers successfully toured Europe in 1871.

They were humble beginnings. Significant prosperity really began when radio was generally embraced as medium for communication in the 1920s. WSM radio station was set up by a local insurance company, National Life & Accident Insurance, for its own promotion alongside public service. Later in 1925, the station’s Saturday night “barn dance” became the

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Nashville Public Library Presents Courtyard Concerts    August 14 through October 9 11:45 a.m. to 1:00 p.m.   Free concerts in the courtyard at the downtown Nashville Public Library 615 Church Street
  August 14  The WannaBeatles  (Beatles Tribute)
August 2 
James "Nick" Nixon 
  August 28 
Gypsy Hombres
(Gypsy Jazz/ Swing)  
September 4
Radio Daze
(Big Band, Dance)  
    September 11 Riders in the Sky 
(America's Favorite Cowboys)
  September 18 
Sara Sant’Ambrogio  
(Classical Cellist)
   September 25
The SteelDrivers 
  October 2 
Rachel Rodriguez 
(Latin)   October 9
Jason D. Williams 
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The North Capitol neighborhood is hard to miss as there are no obstacles that block its view from anywhere else in the city.

What's more, the downtown area of Nashville bounds this neighborhood, starting from the edge of the Cumberland River and continuing to 8th Avenue and then extending south to Charlotte and north to Jefferson Avenue.

The Sulphur Dell, the Market District, and the Black Business District are some of the former names that locals used to call the neighborhood. It used to have a predominant location intended for industrial businesses, rundown shanties, and African American homes & businesses. The year 1949 changed this when the Capitol Hill Redevelopment Project, a postwar urban renewal program in the nation, was launched by the

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The ZieherSmith Gallery of New York is set to return to Nashville, Tennessee, next week to take part in a week-long exhibition as part of the second annual pop-up gallery in the Gulch on August 4-11.

“Breadbox” is the name of this year's pop-up, a collaboration between the number of well-known contemporary artists from Nashville, New York, San Francisco, London, and Cologne. Andrea & Scott Zieher, owners of the The ZieherSmith Gallery, will establish a temporary gallery on the ground floor of of ICON, 606 12 Ave. S., the exact same location where they set up last year.

There are a number of new additions for this year’s event, including an evening of film screenings from prominent local artist, and a panel discussion which will discuss the discovery

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