Great Investment: A Downtown Condo (Prices from 2011 to 2013)

The downtown Nashville condo scene has fluctuated up and down more times then I can count through the years.  10 years ago condos in the downtown core there were few and far between.  Then the Viridian burst onto the scene with great sales numbers and everyone wanted to join the party.  Over the coarse of the next couple of years the demand was high for more condo's and those needs were met and exceeded.  Multiple projects went up and flooded the market with inventory.  Which in turn caused many of the buildings to sit vacant, foreclose, or change to apartments.  With tens of thousands of people moving to Nashville over the last couple of years it caused that demand to rise again but no one was willing to take that risk again which has caused prices to skyrocket.  Below you will see a great chart documenting it by a fellow Realtor here in Nashville.  It runs for Q4 2011 to Q4 2013.  Since 2013 we have seen these prices continue to rise at all of these buildings.  The newest and first condo building to make the jump back into the scene is the Tweleve Twelve currently being built and they are selling some of the units for over 500/sqft!!

Picture by Scott Corenett