Just to give you some actual live figures regarding your question:

-In 2008 15 homes sold between January & December in the price range of $799,000 up to $850,000
-In 2009 9 homes sold between January & today's date in the price range of $799,000 up to $850,000
-Currently there's one home pending sale status over $800,000

Information believed to be accurate but not guaranteed per RealTracs Solutions

Feel free to contact me if you would like further indepth information regarding Williamson County or any other surrounding Middle Tennessee counties. Take care.

The data indicates that homes sold above this range in Franklin (clearly excluding Brentwood and other affluent contigious areas) dropped approximately 1.7% YTD over 2008.

Interestingly enough, the average sales price in this range is approximately 78% of the current listing price. My conclusion is that clearly, in the higher end properties, the sellers are not selling their home because the listing price is considerly higher than what the consumer is willing to pay.

Overall sales are down in that price range because the inventory of new construction is so high and very competitive. Also, most folks purchasing that priced property are moving up from the 500 to 700 range and those homes are also sitting. In Franklin sales also have alot to do with the neighborhood. As Kevin indicates, LaurelBrooke is feeling the pinch but in WestHaven everything is full steam ahead. Purchasing a home in Franklin is still a good bet, remember to get your best return you need to stay in the home for at least 7 years and update the home during that time to keep it competitive when you get ready to sell.

Not good. 18 months of inventory, and prices falling until that number reaches a balance. In LaurelBrooke, for instance, that means over 20% drop in average price since 2007 (median too). Good time to be on the buy side, but its a rough market to make successfuly sale within.

Would you like to diccuss how recent sales might protect your investment?

kevin pellatiro (615)714-7918 kpellatiro@realtracs.com http://signswemustobserve.blogspot.com/