Sept 2010 Rutherford County Market Report
In this edition of Tuesday Morning Coffee John Jones presents the Rutherford County Tennessee real estate statistics for August 2010 and compares them to the July 2010 and August 2009 home sales stats for Rutherford County.
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JOHN: Hey, John Jones here with another edition of Tuesday Morning Coffee. Thank you guys for checking in with us today. Coming on the heels of one of the most beautiful Labor Day weekends I can ever remember—beautiful sunshine, low humidity. I thought for a day or two we were in San Diego, California. Guys, the numbers came out on the fifth for the month of August. Interesting. Kind of still the same scenario as last month.
The closed sales are down 32% over this month last year. Last year in August, we had 336. This year we had 227 in Rutherford County. Pendings are down at the same rate. For the year, we are still 5% more closed sales than we had this time last year, but obviously, that number is diminishing as our pendings are down. So I look for that to be close to even or even less unless something crazy happens.
One thing we’ve got to remember on this when we look at this information. We did have an artificial stimulus in play last year pretty much the whole year, and that was the homebuyer tax credit. If you recall, it pretty much covered the whole year and then ran into the spring. They extended it into the spring of this year, which we don’t have right now. So obviously, I think that had a lot to do with it because our unemployment numbers are pretty much the same. I think they’ve actually come down a little bit in Rutherford County.
So read into it what you want. I think as my great videographer Peanut said, “Right now we’re playing on a muddy field.” But like I’ve always said, when the market is kind of bad for one party being the seller right now, it’s very, very good for the buyer. We are staying very busy here at John Jones Real Estate. We’re doing a lot of stuff that we didn’t have to do five years ago, working a lot of short sales.
And I do want to mention if anybody out there knows someone who is behind on their payments, please have them contact us. We have been able to help so many people in the past 12 months avoid foreclosure. So I want to throw that out there, and otherwise have a great week and we’ll see you next Tuesday.