Real Answers for Real Estate
Panel of Experts Provides Valuable Insights at October 2017 Chamber West Meeting
by: Don Klein - Chamber West Leadership Team
Don Klein Consulting, Price CPAs
Chamber West had another outstanding meeting recently. The topic was real estate, and the four panelists addressing the topic were some of Nashville’s most experienced and knowledgeable professionals. They provided real answers for real estate questions and issues in a setting that was both fun and informative.
Richard Courtney of Christianson Patterson Courtney and Associates moderated the panel to make the conversations between panelsists enjoyable as well as insightful.
Christie Wilson of The Wilson Group Real Estate Services addressed residential real estate questions, Scott Ghertner of Ghertner & Company addressed property management issues and Ronnie Wenzler of Cushman & Wakefield provided the commercial real estate perspective.
Each of the panelists has more than 20 years of experience in the Middle Tennessee real estate market, so a little time was devoted to comparing the market then with the market now. There were some fun memories from “how it used to be,” but the focus quickly turned to current market conditions, trends and influences.
There were many “take-aways,” such as the fact that the residential market is still very active, but pricing is normalizing.
Also, building costs for both commercial and residential construction are increasing everywhere, with the supply of both materials and labor impacted by hurricane recovery efforts.
Some factors in the real estate economy are the same as those of the entire city and region. Transportation is causing different approaches to where development happens and what kind of development is done. Density is growing – a lot. More residential (including apartments and condos) development is happening closer to the center of the region, along with higher-end commercial office options. Conversely, industrial development is moving (or is being moved) farther out in the region, as pricing of land is just too high nearer downtown. And education remains a major consideration for location choices of home buyers with children.
Great information from the experts led to lots of post-meeting conversations with the panelists and among the attendees. This networking is what this meeting is really all about. Providing good information and great opportunities to connect are part of what the Nashville Area Chamber of Commerce does so well. The Area Advisory Council networking events are clear evidence of that!
Chamber West meets from 8:00-9:15 a.m. on the third Wednesday of the month on the top floor of the Hampton Inn & Suites in Green Hills. Join us any time!