Is the Nashville RE market due for a pullback?

[Anthony Magnano]

In light of all the recent events, I am curious about others thoughts on the health of the nashville residential property market. I was in the market to buy/ house hack in Nashville earlier this year and have reconsidered with everything going on in the world.  I really have two questions for the community:  do you think now is a good time to buy or am I better off waiting for additional econimic fallout to drive pricing downward?  what areas of town would you recommend to house hack in as a young professional?  I am sick of paying exorbitant rent and am MTM at the moment so i have the ability to act quickly.  I am just skeptical about whether or not now is the right time.  Thanks all!  Stay safe and stay healthy.  

[Luka Milicevic]

@Anthony Magnano

I started investing in the Nashville market in 2014. It was hot back then, real hot. So many were waiting for the economic fall out.

2015-2016 market got hotter, way hotter. People backed off to wait for prices to come down. 

2017-The new construction market cooled down. Everything else remained the same. People were waiting to enter the market 

2018-2019-Huge appreciation in the market. Largely due to the city imposing insane fees on new developments. Developers have gone onto other ventures or passed on the costs to home buyers. Investors are on the sidelines waiting for prices to come down and for a market crash! It can't go any higher!

2020-Market is now on absolute fire. I have never seen houses fly off the shelves this fast. The retail market houses sell in a day with multiple offers and STUPID high over asking offers. Now folks are really asking if they should wait it out for a crash. 

If you are going to wait to enter the market, then you are going to be waiting for the rest of time because there is never going to be a right time.