Spring Hill TN Real Estate, a Year in Review: Spring Hill had an active year in 2011 for Real Estate Sales and I want to cover and go over them so that we can all have a good understanding of the market conditions in the community.

Spring Hill is located in both Williamson and Maury Counties in Middle Tennessee and is located approximately 30 miles south of Nashville. The community continues to grow and and has plenty of things to do for folks of all ages. Spring Hill is home to The Rippavilla Plantation as well as a very large General Motors plant and has grown a great deal over the past 10 years. The city is easily accessible to Interstate 65 and Hwy 31 goes directly through Spring Hill. There are a lot of great places to eat and shop in Spring Hill as well.

Currently as of January 17th, 2012 there are 322 homes listed as for sale in Franklin:

Courtesy of Realtracs:

Active  322 Properties Found   Homes For Sale Spring Hill
  Square Feet Bedrooms Full Baths Half Baths List Price Sales Price Days on Market
MIN 800 0 0 0 $59,900 $0 0
AVG 2,432 3.46 2.35 0.57 $236,985 $0 94
MEDIAN 2,354 3 2 1 $214,900 $0 76
MAX 4,367 5 4 2 $1,190,000 $0 686

We can now break these numbers down to three averages: The chart shows that the 322 homes in Spring Hill currently listed single family homes are listed for an average price of $236,985 with an average list price per square foot of $97.44 The average day's on market are currently at 94. The median number's are a reflection of half of the homes higher and half of the homes being lower in each category. This will tell me how many months of inventory we have in relation to how many sold in 2011. In 2011 we had 575 successful sales so this gives us a value of 47.92 homes sold a month as an average and reveals that we have 6.72 months of inventory in Spring Hill.

As of January 4th, 2011 we have 70 homes that are listed as a pending sale.

Courtesy of Realtracs:

Pending  70 Properties Found   Spring Hill Homes For Sale
  Square Feet Bedrooms Full Baths Half Baths List Price Sales Price Days on Market
MIN 1,272 0 0 0 $111,900 $0 0
AVG 2,369 3.39 2.29 0.57 $216,864 $0 77
MEDIAN 2,380 3 2 1 $191,880 $0 84
MAX 3,941 6 4 2 $525,000 $0 295

We can now break these numbers down to three averages: The chart shows that Spring Hill homes currently listed as pending single family home sales are listed for an average price of $216,864 with an average list price per square foot of $91.54. The average day's on market are at 77. This shows us that the average list price of homes that are pending sale are listed at 8.5% lower than that of the homes for sale that have no offers at this point.

There were 575 properties that sold and closed in Spring Hill during the period of January 1st 2011 through December 31st 2011. 

Courtesy of Realtracs:

Closed  575 Properties Found     Spring Hill Real Estate
  Square Feet Bedrooms Full Baths Half Baths List Price Sales Price Days on Market
MIN 600 0 0 0 $27,000 $25,100 0
AVG 2,243 3.39 2.34 0.46 $206,659 $202,452 103
MEDIAN 2,155 3 2 1 $181,900 $178,500 87
MAX 4,245 5 4 2 $528,010 $528,010 753

We can now break these numbers down to four averages and a list price to sales price ratio: The chart shows that Spring Hill TN sold properties from January 1st 2011 through December 31st 2011 were listed for an average price of $206,659, with an average list price per square foot of $92.14. The average day's on market for these sold properties were 103. The average price that properties actually sold for were $202,452. With this information we can see that the properties sold for 97.96% of the asking price. The median number's are a reflection of half of the homes higher and half of the homes being lower in each category.

Another great piece of information to understand is how The overall Spring Hill Real Estate Market is trending: The first six months compared with the last six months of 2011.

Spring Hill Closed Sales January 1st 2011 through June 30th 2011

Courtesy Of Realtracs:

Closed  257 Properties Found     January 1st 2011 through June 30th 2011
  Square Feet Bedrooms Full Baths Half Baths List Price Sales Price Days on Market
MIN 1,148 0 2 0 $48,500 $47,900 0
AVG 2,246 3.42 2.36 0.4 $205,064 $199,756 115
MEDIAN 2,144 3 2 1 $181,900 $176,900 97
MAX 4,245 5 4 1 $429,900 $445,000 641

Courtesy of Realtracs:

Closed  318 Properties Found    Spring Hill TN Real Estate
  Square Feet Bedrooms Full Baths Half Baths List Price Sales Price Days on Market
MIN 600 0 0 0 $27,000 $25,100 0
AVG 2,241 3.37 2.32 0.5 $207,947 $204,630 94
MEDIAN 2,158 3 2 1 $181,950 $179,850 83
MAX 3,952 5 4 2 $528,010 $528,010 753

With this information we can see that during the first six months of 2011, Spring Hill homes for sale had an average sales price of $199,756 with an average sale price per square foot of $88.94 with an average days on market of 115. The second six month period, July 1st 2100 through December 31st 2011 had an average sales price of $204,630 with an average sale price per square foot of $91.31 with an average days on market of 94. The pace of sales was was up significantly during the second six months of the year, and the average sales price was up. The days on market were less.

This information is significant because it shows us that Spring Hill is experiencing a great market trend in the price that buyers are willing to pay with an average sales price up, price per sq/ft up and days on market down compared with the first six months of 2011! This is very good news for the home seller and home buyer in Spring Hill TN.

Read More Informational Blogs About Spring Hill TN Happenings & Real Estate

Now is the time to be in the market, whether you are selling or buying, the deals are here and for sellers, this is a great time to attract buyers. The rates for buyers are at historic lows and there is demand in our market. If you are a seller, you don't want to wait until interest rates go back up pushing more buyers out of the market.

Please feel free to contact me for a free report and evaluation for your property, neighborhood or project.

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