The city of La Vergne is virtually for sale as homes are flying off the market within days, and sometimes hours, of being put on the market.
So far this year, Bob Parks Reality reports closing on more than 240 houses, which is an increase from last year.
“I have situations where homes are under contract before I can show them to my clients,” realtor Robert Carroll said. “It’s definitely a hot market right now.”
In one neighborhood, a home was on the market just two days before it sold.
Another buyer put her house on the market and had an offer in four hours.
Carroll said his clients seem to be more confident in the economy and are more comfortable making the commitment to buy a home.
“Houses are going really fast, so if someone sees one that they really like, they don’t have a lot of time to think about it,” he said. “If they want to buy, they need to go ahead and put a contract on it.”
One of Carroll’s clients spent several months looking for a home, but it took less than two weeks to sell their own.
Gerald McAlister lives in the Knollwood Drive area, where a number of homes are for sale.
The home next door sold in just two days.
“It makes me think my property is worth a lot more than when we were in a recession,” he said. “It’s a good time to sell.”
The city of La Vergne told News 2 the housing boom is one of the more positive results from improvements to infrastructure, public safety and quality of life.
La Vergne purchased its fire department earlier this year. The city plans to hire 11 new firefighters with the money the city would have paid the for-profit company that was running the department.
“It is all coming together and we are really happy to welcome people to La Vergne,” city spokeswoman Kathy Tyson said. “We are in a great location for people to come to.”
Tyson said being able to attract more retail is also helping the city become a more attractive location for people to purchase homes.
“We have Walmart coming soon, we are hiring 11 new firefighters and we have the lowest crime we have had in a decade,” she explained. “It does help the city, but more importantly, it is just a great place for families and other people to come and live.”
According to Zillow.com, a real estate Web site, home values in La Vergne are expected to increase by around 4.5 percent over the next year.