That woosh you hear is Williamson home prices plummeting

The Williamson County Association of Realtors announced the May sales reports. The following article appeared in Nashville City Paper. Sales from the Nashville Association of Realtors to follow.

By Geert De Lombaerde
Posted on June 8, 2009 at 1:49 pm

From the Williamson County Association of Realtors comes word that home prices in the county, which had held up well over the past year, appear to be giving way to ‘We need to sell this now’ pressures:

The Williamson County Association of REALTORS® today announces the sale of homes statistics for Williamson County, Tn. for the month of May. There were 219 residential and condominium closings reported for the month, according to figures provided by RealTracs Solutions, the multiple listing service used by REALTORS® in the Middle-Tennessee area.

Compared to May of 2008, the residential home closings decreased 37 percent and the median price for residential homes decreased by 14.6 percent. Days on the market (DOM) for residential homes increased by 19 days as compared to May 2008. Condominium closings decreased by 36 percent. The median prices for condominiums decreased by 1 percent and days on the market also increased by 11 days compared to May 2008.