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Home Prices have Greatly Increased in Murfreesboro as the Supply of Building Lots have Dropped

MURFREESBORO, Tenn. — The growth that Rutherford County has experienced has greatly increased home prices. The growth has also led to a lack of supply – that supply being lots to build new homes on… Now, the cost of a new home is $500-thousand or more… That was Murfreesboro Mayor Shane McFarland. The Mayor told WGNS there are fewer and fewer subdivisions being proposed… As for existing neighborhoods that once offered a variety of star...
United States Rutherford County Shane Mcfarland Murfreesboro Mayor Shane Great Recession Construction Coverage

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TENNESSEE: 12th Lowest average new construction value

TENNESSEE - Rising real estate prices and interest rate hikes have finally started to bring balance back to the residential market this year. But while demand is falling off, the U.S. still has a major need for new homes, which could create plenty of opportunity for residential builders. One of the major factors that contributed to the heightened competition for housing over the last two years was housing supply. The U.S. suffered from a severe shortage of housing stock before COVID-19, and the ...
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