Information on Sales

Property transfers have declined per year since 2005. During 2005, there were approximately 4300 transfers as compared to 2600 transfers in 2008.

Property Transactions

2005                            4276

2006                            4054

2007                            3158

2008                            2560

Source: TN. Dept. of Property Assessments

The median home sale price in 2005 was $125,000.00 as compared to $127,450.00 for 2008. The housing market has declined in the last several years, but as of January 1, 2009 the median home sale prices were still higher than the median home sale price in 2005.

Median Home Sale Price

2005                            $125,000.00

2006                            $131,500.00

2007                            $134,900.00

2008                            $127,400.00

Source: River Counties Association of Realtors

Bradley County is fortunate not to feel the housing decline as severely as other parts of the country. Bradley County housing values have increased 21.62% over the last 5 years and that includes the 2.31% decline of the last year. The national average was 12.74% over the last 5 years which includes the 8.27% decline over the last year. Other states have not faired as well.

Housing Economy

                                                    5 Year Period                            1 Year Period

                                                01-2004 to 01-2009                  01-2008 to 01-2009

Cleveland                        21.62%                                            -2.31%

Tennessee                     19.14%                                            -3.90%

Nation                                        12.74%                                            -8.27%

Georgia                            2.89%                                          -10.26%

Florida                             8.07%                                          -23.96%

California                        -8.19%                                         -25.52%

Source: Office of Federal Housing Enterprise Oversight 4th Quarter 2008 reports

http://www.ofheo.gov/

Tennessee Farm Sales

Tennessee farms sales have also increased over the last 5 years. Cropland values increased from $2,850 per acre in 2005 to $3,650 per acre in 2008, a 21.9% increase. Pasture land values increased from $3,220 per acre in 2005 to $4,100 per acre in 2008, a 21.5% increase.

Source: USDA National Agriculture Statistics Service