• Brandon Park Downs, Franklin TN - The average property in Brandon Park Downs was built in 2005 and averages 4 acres, with an average size of 5000 sf. One of the very few equestrian communities where you can find a home under $1 million, home prices begin in the upper $700,000’s in this gated community with tennis courts, pool, clubhouse and underground utilities. There are 44 properties with plenty of lots still available to build. Horse stables are available.
• Lynnwood Downs, Franklin TN - This community is nestled among rolling hills and beautiful valleys that feels so far away from it all, but it is literally just minutes from the heart of Cool Springs. Lynnwood Downs‘ average year homes were built is 1990 and average 5000 sf, but there are still some buildable lots left. The average lot is just under 7 acres and could be as much as 44 acres. Other amenities in this gated community include: tennis courts, volleyball, pool, playground and a clubhouse. The stables have two community horses for use, and each property comes with 2 stalls for your own horses. Ride on trails or the outdoor ring. Homes begin around $1 million.
• Two Rivers, Franklin TN - Two Rivers is another picturesque neighborhood with 22 luxury properties averaging 8.5 acre lots (and go up to 18 acres). Homes average 6200 sf and go up to about 8500 sf. Homes start near the $2 million range.
• Hidden River, Franklin TN - is a 29 home community with the average home being 8500 sf (up to 18,000 sf), built on average in 2001, with 7 acres of land, but certainly can be much more. Homes in Hidden River are in the $2 million+ range.
• Grace Valley Estates, Franklin TN - This is an exclusive, 7-lot equestrian community. This, too, is $1 million+ community, and homes range from 4000-4500 sf. Residents of Grace Valley Estates each have an average of 10 acres of land.
• Beechwood Plantation, Franklin TN - Beechwood Plantation is a newer community (homes built in 2008+) in the Leipers Fork area with lots averaging 12 acres and may go as to as many as 40 acres. The 39 lots will have homes averaging 5500 sf and will start in the $1.5 million range with home sites beginning in the $300,000’s. This community offers private entrances, pastures, 6 miles of trails accessible from every property, spring-fed streams and ponds, and beautiful views. Whether you choose a wooded or pasture lot, private barns are permitted.
• Saddle Springs Estates, Thompsons Station, TN - Saddle Springs $1 million+ luxury community includes underground utilities, walking trails and an average of 4 acre lots per property. Some properties are as much as 12 acres of land. Home sites begin around $200,000. The average home is 5500 sf, but can be as much as 9000 sf. Saddle Springs is packed with the finest in equine facilities with a 65 stall barn, lessons, 6 tack rooms, dressing and shower facilities, laundry care and blanket facilities, indoor riding arena, observation/party room, paddocks, outdoor riding arena, outdoor round pen and dressage ring, and open field for riding. A 9000 sf conference and recreation center with pool, fitness room, tennis courts and a game room is also planned for the future. Stocked ponds are available and an outdoor pavillion near one of the ponds will be available for parties and weddings. These amenities are financed through only those residents who use them.
• Paddock Place, Mount Juliet TN - Tucked away East of Nashville in Wilson County, Paddock Place community is the most affordable of all ranging from $300,000 to $500,000, with one or two exceptions. Most of the home sites are about 1/2 an acre, some with beautiful views of the rolling hills and valleys. The average sized home is 3000-3500 sf. This community is within a few minutes of Old Hickory Lake. Other community amenities include playground, clubhouse, walking trails and underground utilities. The Equestrian facility has an indoor show arena, full care boarding, lessons and turnout paddocks.

You also have regular subdivisions with much larger lots (5 acres or more) that allow horses like Garrison Springs Estates, and Traceland Estates in Leipers Fork, parts of Deerfield and Rosemont, also in Franklin, to name a few. So if you’re interested in a property that will be equipped for horses, you can easily find individual properties or even properties within an equestrian community in Middle Tennessee.

Equestrian community properties come at luxury prices for the most part in Middle Tennessee and do not come available regularly. One thing is for certain about all of the communities mentioned, is they are set among some of the most picturesque land and panoramic views of Middle Tennessee including rolling hills, valleys, wide open pastures, and woods. If a luxury equestrian community is not for you, look into individual horse farms. There are plenty available all across Middle Tennessee for many different budgets.

Click on the highlighted links to find a listing of homes currently for sale in these equestrian subdivisions. You’ll have access to the photos and details of the properties. To see properties in these areas or put your home on the market, or for general questions/discussion call me at 615-739-2944 or email at denawilliams@kw.com.

Boomtown: Spring Hill
Household growth (2000-08): 157%
Household income growth (2000-08): 54%
Home value: $201,000

Spring Hill, 30 miles south of Nashville, expanded as growth in Nashville spilled over into neighboring suburbs. Spring Hill area households grew 157% from 2000 to 2008, to 10,707. The average income jumped 54% during that period, to $95,689 in 2008.

The top ten fastest growing communities in the report were:

1. Summerlin South, Nev., 618 percent
2. Katy, Texas, 168 percent
3. Wentzville, Mo., 160 percent
4. Spring Hill, Tenn., 157 percent
5. South Carolina, 156 percent
6. Brighton, Colo., 153 percent
7. Wesley Chapel, Fla., 151 percent
8. Lehi, Utah, 110 percent
9. Canton, Ga., 99 percent
10. Oswego, Ill., 98 percent

Compared to January of 2008, the single family residential closings decreased 26 percent and the median price decreased by 8 percent. Compared to 2006, the median home prices have increased by 24 percent. The average days on the market (DOM) for residential homes has increased by 8 days. The median is a typical market price where half of the homes sold for more and half sold for less.

With 107 residential closings, the median price was $365,000 and the average $468,785 with average Days on Market at 95. Compared to 2008 where there were 145 closings, a median price of $395,000, an average price of $451,792 and days on market at 87.

With 7 condo closings compared to 28 last year, the median price was $220,000, average price at $172,493 and 69 days on the market. The prices are up in comparison to last year’s $174,308 median and $182,131 average price with only 35 days on the market.

“The Williamson County real estate market performed as expected for January. There is pent up demand from buyers and many consumers are waiting to hear about potential tax incentives proposed in the Economic Stimulus Package before making decisions. Buyers are looking, as the number of showings of homes for sale has increased in the last few weeks. We anticipate many buyers taking advantage of the lower interest rates and potential tax advantages enacted by the Federal Government,” said Diane Johnson, 2009 President of the Williamson County Association of REALTORS®.

Source: WCAR

The median price for a single-family home was $165,000 and for a condominium it was also $165,000 compared with median prices of $179,900 and $158,890 respecively at this time last year.

Inventory is currently at 22,509, up slightly from the 21,952 properties available at this time last year. However, all categories were actually down except farm/land/lots.

Click here for a copy of the news release being provided to area media today, which includes comments from GNAR President Mike Nichols. And, you can click here for historical data on the Greater Nashville real estate market.

Source: GNAR

[SOURCES: Freddie Mac; Information, Inc.]