More evidence of a new normal in real estate in middle Tennessee is coming out as we look at the post government intervention days. As the chart below shows, we saw a significant drop in sales over the past 2 months (lowest level in over 10 years), but it was all due the expiration of the tax credit. Watch for numbers similar to the fall of 2008 and 2009 within a couple of months.
Lastly, please don't buy in to the lies that nothing is selling. Middle Tennessee has sold 20,000+ homes and condos in the past 12 months. Serious sellers in most all price points are moving homes.