Making Real Estate Easy to Understand
Tennessee is a great place to live and work, no personal income tax, and a business friendly climate. Business Facilities, a leading national publication focused on site selection and economic development, recently named Tennessee its 2014 State of the Year for the second consecutive year. Tennessee becomes the first state in the award’s history to win back-to-back honors and the first state to earn the designation three times (2014, 2013, 2009).
The home-buying market remained active throughout Tennessee in 2014 and picked up steam as the year came to a close, and several signs point to continued vitality as 2015 unfolds, according to year-to-year data compiled by the Tennessee Association of REALTORS (TAR).
During 2014, the state's single-family home sales totaled 65,006, down a slight .43% from 2013; condominium sales totaled 5,926, a rise of 6.53%. Median home prices rose 6.90% for the year to close at $169,900; median condo prices gained 8.58% to close at $149,900.