McSquared in Music City January 2023

New Year. New Possibilities.

Happiest of holidays to you and yours. I hope your plans were not derailed by the winter weather and travel fiascos that bottlenecked much of the country and you were able to be with the ones you love. We managed to make it in and out of St. Louis without incident  -  just a little white-knuckled focus and determination. To all our beloved in California, wishing you safety through the deluge of rain you're currently receiving. 

I've been thinking, "home" brings on so many meanings and awakens an array of emotions, particularly around the holidays. Where do you call home? Is it the place you currently live? The place you moved from? Is it where you grew up? What image comes to mind when you think about it? With the advent of at-the-ready technology we can be in constant communication with our loved ones around the globe, around the clock. It's often not until mother nature creeps in or technology fails when we realize how far away we are, or long to be with one another. Maybe the pendulum will swing? Anecdotally, I've helped a few "parents" relocate to Music City to be closer to their children and grandchildren. My in-laws moved from Connecticut to Denver to be closer to the bulk of the family and grandkids. I was just touring some clients through Westhaven in Franklin and Southern Land Company is building a 55+ section of their luxurious and in-demand community. Genius in my opinion! I venture to guess demand will be strong as the many young families calling Westhaven home will draw aging moms and dads closer, while providing an active senior community with independence and autonomy. What say you? 

Philip Rosenthal from "Everybody Love's Raymond" fame and more recently "Somebody Feed Phil" filmed an episode in Nashville highlighting some of our decadent Southern cuisine with cameos from some of Music City's new and long-time residents. In the episode he spotlights the city's tremendous development, the cranes in the sky, and the bustle that continues to roar. I know I sound like a broken record constantly telling you all abut the growth here, but I find it pertinent that even Phil had to mention it, as it's utterly apparent the moment one steps foot in town! Come on down for a visit - we'll show you around. There are still plenty of opportunities to invest. Let's chat!

Onto market analytics!

In Nashville, we saw the number of new listings decrease to 516 new listings. The number of properties sold, 767 continues the downward trend. And it is no surprise with seasonality, only about 567 contracts were signed in the last month. Similar results in Brentwood & Franklin. 260 new listings hit the market in the last 30 days. The number of properties sold (295) slowed with the holidays, as did the number of properties put under contract (237). 

These numbers are likely a result of seasonality, coupled with stock market declines. Interestingly enough, at my latest coffee klatch of about 15 top producing agents in town it was noted that the majority of our clients are no longer lamenting the "interest rate conversation" in a sign that folks have processed the dramatic raises and are adopting the mentality, "it-is-what-it-is." In my opinion, this is an incredible time to be a buyer as property values have somewhat normalized, contingencies are being accepted by sellers, and there are fewer players which provides time and the ability to act rationally. What a thought!

Local Events

World Turning Band "The Live Fleetwood Mac Experience" with Sam Mullens

January 14th | 8pm

World Turning Band is a "LIVE" Fleetwood Mac Experience, focusing on live events specializing in the top 40 Fleetwood Mac songs

The Music of Star Wars with the Nashville Symphony

January 14th & 15th | 8PM

May the Force be with you as your Nashville Symphony explores the iconic musical galaxy of Star Wars with selections from the entire film saga. Experience some of the most thrilling music ever written for the movies, from the Star Wars Main Title to “The Imperial March (Darth Vader’s Theme)” and so much more. Come early for fun pre-concert activities, and get ready to travel to a galaxy far, far away!

Buffalo Sabres vs Nashville Predators

January 14th | 7pm

SMASHVILLE 

The DOLLY PARTY: The Dolly Parton Inspired Country Diva Dance Party

January 20th | 9PM

This is for the 9 to 5 workin’ girls with a calling from another era who just want something a little classic. Join us in Rainbowland where you’ll dance with somebody, hand in hand to the music of Dolly Parton, Tina Turner, Carrie Underwood, Reba McEntire, The Chicks, Loretta Lynn, Shania Twain, Whitney Houston, Kacey Musgraves, Donna Summer and more.
So wrangle your country-diva dancing queens and come party!

Cheekwood Winter Concert Series

January 28-February 23

Chilly nights turn sultry during the Cheekwood Winter Concert Series. Grammy-winning players will perform big band jazz, Brazilian grooves, and classical music in Cheekwood’s elegant Massey Hall. These intimate concerts will expand perspectives and delight music lovers.

More information HERE

Notable in Nashville

Green Hills

3613 Valley Vista Road

3 BD   4 BA   2480 SF   $949,900

Sylvan Park

5010 Dakota Avenue

4 BD   3 BA   2836 SF   $1,225,000

Otter Creek

62 Annandale

4 BD   6 BA   6145 SF   $2,999,000

Green Hills

1828 Green Hills Drive

4 BD   4 BA   4217 SF   $2,395,000

Green Hills

4300 Estes Road

4 BD   5 BA   3903 SF   $1,695,000

West Nashville

1201 Canterbury Drive

5 BD   7 BA   5519 SF   $5,500,000

In case you missed it

> An analysis from the Urban Institute estimates that those who became homeowners between the ages of 25 and 34 accumulated $150,000 in median housing wealth by their early 60's. Meanwhile, those who waited until between the ages of 35 and 44 to buy netted $72,000 less in median housing wealth. (WSJ)

> In the tough efforts to get people to come back to the office, many companies and buildings are resorting to installing amenities that resemble the best amenities found in high-end luxury condominiums and hotels......the workplace keeps evolving

> Luxury waterfront homes in Miami have jumped in price in the past year in the double digits and continue to remain strong. Miami’s percentage of cash buyers (39.5%) is significantly higher than the national average (22%)

> Manhattan now has more residents than it did pre-pandemic, with a nearly 4% population hike from January 2018 to October 2022.....(NY POST)

> Despite a broader slowdown, the luxury market notched 7 $100M+ deals in 2022, one less than in 2021. All were in California, New York and Florida. (Wall Street Journal)

If you're in the market or know someone who would benefit from an informal conversation with me, please click here and we'll schedule some time together. REMEMBER, I can easily source and vet a colleague of mine nationwide, in your local market.  Let me do the work. See the map below for our broad reaching locations. Thank you!

Shane McCarty

Affiliate Broker
M: 209.601.1957
O: 615.475.5616
shane.mccarty@compass.com

Office: 615-475-5616

Compass RE is a licensed real estate broker. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.