Standard Home Pricing for Your Move to Nashville
THE PRICE OF ‘STANDARD’: DAVIDSON COUNTY
Cable network HGTV’s “What You Get for the Money” examines the typical home one could buy in different regions of the country for a set budget. For example, $250,000 gains a buyer much more in terms of features, square footage and land in a sprawling Midwest farm community than it does in the heart of a thriving metropolis.
Our twist on HGTV’s formula is to examine what today’s “standard” home will cost buyers in various Nashville zip codes. According to Census.gov, the average size of new homes built in the south between 2000-2009, measured just under 2,200 square feet. (Incidentally, this is up 34% versus twenty years earlier when new homes averaged 1,640 sf.) Additionally, the National Association of Home Builders defines a “standard” home (based on median values of homes built after 1999) as one with the following features:
- 2,000 square feet of living space
- 2 full bathrooms (no half bath)
- 3 bedrooms
- Dining room
- 2 miscellaneous rooms (i.e. rooms other than bed, bath, dining or family)
So, using RealTracs.com, let’s scour Nashville neighborhoods in search of homes with 2,000-2,200 square feet of living space, 3 bedrooms, a living room, a bonus or family room, a fireplace and a garage, give or take, and see what’s revealed…
According to Wikipedia, Green Hills is a “relatively affluent” part of Nashville, located south of downtown. It is home to The Mall at Green Hills, a high-end shopping center boasting stores such as Tiffany & Co., Burberry, Brooks Brothers, Louis Vuitton, Kate Spade, Sephora, Swarovski and more. Nordstrom arrives later this year.
So what does our basic single-family home cost in GH? A quick RealTracs search reveals prices as low as $379,000 (3412 Benham Ave.) to $410,000 (408 Copeland Dr.) for homes with comparable square footage and features, but without a two-car garage. Want it all? Your investment will be closer to $450,000-$550,000. With limited new development in the 37215 zip code, most homes found here are gems built in the 1940s-1960s.
Budget Travel Magazinecalled Historic East Nashville “Nashville’s version of New York’s East Village,” and with the culture, art, dining and shopping it’s easy to see the correlation. A neighborhood rife with revitalization, East Nashville lies directly east of downtown just across the Cumberland River. Locals enjoy the trendy Five Points area, with hotspots like Batter’d & Fried restaurant, Beyond the Edge sports bar and the Art & Invention Gallery.
Given its historic nature, it’s no surprise that most homes here date back to the early- to mid-1900s. Homes of the size and common amenities of today can be found generally for $200,000-$300,000+, with occasional homes found for less, such as 1003 Preston Dr. listed at $159,900.
From the eastside to the westside, the 37221 zip code represents Nashville’s Bellevue area, located about 10 miles west of downtown on I-40. What started as a small farm community along the Harpeth River in the 1950s has become a suburban destination for many Nashvillians of the 2000s. Bellevue retailers include Publix and Kroger grocery centers, Sears, Home Depot and more.
Given its suburban location, it’s not surprising to see price-per-square-foot a bit more affordable in Bellevue, with homes ranging from around $90/sf as in the case of 1321 Westvale Dr. ($195,900), to $120/sf as in the case of the to-be-built home at 7080 Northridge ($249,900).
Located southeast of town between I-24 and I-40 is another former farm community – Antioch. With its convenience to two major interstates and an abundance of chain retailers and restaurants including Target, Wal-Mart, Best Buy, Home Depot, Red Lobster, Olive Garden, Logan’s Roadhouse, TGI Friday’s and more, Antioch is an economical suburban residence for Nashville transplants and young families.
Recently-built homes with standard features can be found for as low as $60-$70/sf, such as the all-brick 4125 E. Highlander Ct. listed at $140,000. Prices range up to $95-$100/sf (6609 Broken Bow Dr.; $195,000), but generally don’t exceed that price point for our “standard” home in Antioch.
North of town on I-65 is Madison, an ethnically-rich community that helps bridge northeastern townships like Gallatin, Hendersonville and Goodlettsville to the heart of Nashville.
The 37115 zip code boasts home prices similar to Antioch, with older homes built in the 1950s and 1960s and featuring our standard amenities priced around $150,000 (705 Evergreen Trl.) and homes built in the past decade priced around $200,000 (1937 Nancy Beth Dr.).
At Davidson County’s easternmost edge, before crossing into Wilson County, is Hermitage, named after President Andrew Jackson’s home which stands in the community. Hermitage is a short drive east on I-40 and is a fine example of suburban sprawl.
While deals can be found in the 37076 zip code – just like any other – homes matching our classification of “standard” commonly price between $185,000-$250,000. Examples include 6205 Hampton Hall Way, listed at $184,900, and 6504 Lampe Ct., available for $245,900.
The price of today’s standard home varies across our great city. But with options as varied as the economical locations of Antioch and Madison to slightly-pricier locales such as Bellevue and Hermitage to coveted and historic zip codes like East Nashville and Green Hills, Nashville has something for every home buyer. In the next edition, we’ll venture outside of Davidson County to examine the price of “standard” in our neighboring communities.