Standard Home Pricing for Your Move to Middle Tennessee
THE PRICE OF ‘STANDARD’: NEIGHBORING COUNTIES
In our last blog entry, we examined the price of homes of comparable size and features throughout different Nashville communities in Davidson County. Borrowing our “standard” home definition from the National Association of Home Builders, we examined homes 2,000-2,200 square feet in size, with 3 bedrooms, 2 bathrooms, a bonus room and – where available – a two-car garage. As we discovered, you can find homes that fit this bill in Nashville from the low- to mid- $100s to upwards of $500,000, depending on the location. So what if we venture outside Davidson County? What’s the price of “standard” in neighboring counties? With the help of RealTracs.com, we take a look…
A scant drive north from Nashville, just across the Sumner County line is the County seat, Gallatin. A small-town feel not far from the big city, Gallatin’s population was estimated at under 24,000 in the 2,000 Census. The city has its own airport and regional hospital, offers easy access to Old Hickory Lake and is home to Volunteer State Community College.
In the past decade, Wilson County’s Mount Juliet has nearly tripled in population as city-dwellers migrate to the eastern ‘burbs. A master-planned, 1,000-acre community expansion, Providence has brought shopping, dining and newly-built subdivisions galore. The Providence Marketplace is an outdoor shopping mall boasting retailers like JC Penney, Old Navy, TJ Maxx, Dick’s Sporting Goods, PetSmart, Target, Best Buy, Belk, Yankee Candle, Kroger, Publix, HH Gregg and more.
So what does it cost to live near amidst newly-constructed convenience just 10 miles from Nashville International Airport? Homes of our size and feature list built within the past 15 years in Mount Juliet can be found for $85-$90 per square foot. New-construction homes are generally priced higher at $100-$115 per square foot. The range for Mount Juliet is similar to Gallatin – mid-$150s up to $300,000 in rare cases.
Like Mount Juliet, Smyrna, Tennessee, is a town on the rise, with estimated population growth of nearly 55% between 2000 and 2009. With growth comes residential expansion and new commerce, which is why Smyrna is home to the Nashville area’s only SuperTarget store, plus a Kohl’s department store, a 14-screen stadium-style Malco movie theater, and a Cheddar’s restaurant.
Standard homes with 2,000-2,200 square feet, a trio of bedrooms, two bathrooms and a family or bonus room generally sell for $165,000-$200,000 in Smyrna, with additional options available up to $225,000.
Our neighbor to the south happens to be one of the most-sought after places in the country in which to live and to raise a family. Williamson County is rich with top-notch school systems, a low rate of crime and a median household income of $88,316 as of 2008. In 2010, Forbes magazine ranked Williamson County No. 17 of the 25 wealthiest American counties. Popular residential communities include Brentwood and Franklin and an area dubbed Cool Springs which spreads across both cities.
Given the affluence of Williamson County, homes matching the modesty of our “standard” definition are present, though homes are generally larger in size. In Brentwood, 1220 General Macarthur Dr., built in 1971, offers just over 2,000 square feet of living space and is listed at $319,900 ($157/sf). In Franklin, many homes are available, ranging in price from approximately $230,000 to $500,000. A middle-of-the-road example would be 1805 Susan Ct., an all-brick home built in 2006, featuring 2,132 square feet and listed at $289,899 ($136/sf).
West of Davidson County rests Cheatham County, with rural towns such as Ashland City, Kingston Springs and Pleasant View. With a 20-30 minute commute to Nashville, Cheatham County has become an attractive residential option for those who work in the city but prefer the refuge of a quiet countryside when it comes to home life.
Within the county, homes matching our criteria range from approximately $175,000 on the low end to about $250,000 on the high end.
Whether a 2,000 square foot, three-bedroom single-family home is your flavor or not, two things are apparent: (1) deals can be found in nearly any zip code or county in middle-Tennessee., and (2) property values are fairly consistent across our region. So if the rural lifestyle is more your speed, if you’re a soul who values the thinking time a daily commute affords, then take a weekend or two to peruse the countryside and find which county fits just right…