Today I received a phone call from a man named Bill. He left a message on my voicemail simply saying, “Emily, you have not yet posted last month’s Oak Hill (subdivision of Nashville in which I reside) market report, would you mind posting it on your blogsite soon?”
Wow. Somebody actually took the time to call me and ask for this information because HE WAS FOLLOWING IT AND COUNTING ON IT.
I interpret that phone call in the following way, and please permit me to be a little wordy:
I will start with this:
My friend Aidan jokingly puts on his Skype home page this message: “Due to the recession, the light at the end of the tunnel has been turned out”. While this statement makes me laugh, I also see loads of meaning in it.
If you are a “light at the end of the tunnel” type person like I am, your head is still up and you are still predicting good things. But I also agree with my friend and can say that currently that light is pretty dim, if not temporarily shelved.
Some Economic Truth from Nashville:
Nashville currently has a couple of tent cities. It is true. Not the kind of thing that I like to see right here in my native home, the Music City, a supposedly “more stable” part of the country. Real Depression Material, people.
Nashville is in a mess economically speaking. And I know that our Real Estate Market is a mess as well. Three year inventories in some parts of the greater Nashville area. No real signs yet of when this disaster is going to turn around. Sales are crawling at best.
Here is what saying all of the above boils down to for me:
PEOPLE ARE AFRAID. THEY ARE HOLDING ON TO THEIR MONEY RIGHT NOW BECAUSE THEY DON’T KNOW WHAT TO EXPECT AND ARE HOPING IT’S NOT GOING TO COME DOWN TO TENT CITIES EVERYWHERE. Across the country, people want information about their local real estate market. Here, they want to know how Nashville is doing versus the rest of the country. Much of the United States is in a holding pattern in many ways and the ONLY THING THAT KEEPS US MOVING FORWARD IS INFORMATION.
So this message is to the Real Estate Industry at Large Across our Country: Keep posting on your blog. THERE ARE THOSE WHO ARE WATCHING US very closely for information. We must be SUPER VIGILANT in providing accurate and timely information about our local markets.
Oh, and that light at the end of the tunnel? I believe it will come back on!