According to the data I researched in the Middle Tennessee MLS (RealTracs) as of 7/29/2009, the following Market Statistics paint a troubling picture for the 3 main cities/towns in Rutherford County Tennessee:
Active Listings
- Murfreesboro TN -110 out of 1,324 Active Listings (or 8.31%) are shown as Short Sale or Foreclosure listings.
- Smyrna TN - 50 out of 406 Active Listings (or 12.32%) are shown as Short Sale or Foreclosure listings.
- LaVergne (or La Vergne) TN - 61 out of 297 Active Listings (or 20.54%) are shown as Short Sale or Foreclosure listings.
Pending Sales
- Murfreesboro TN -31 out of 231 Pending Sales (or 13.42%) are shown as Short Sale or Foreclosure listings.
- Smyrna TN - 10 out of 52 Pending Sales (or 19.23%) are shown as Short Sale or Foreclosure listings.
- LaVergne (or La Vergne) TN - 17 out of 50 Pending Sales (or 34.00%) are shown as Short Sale or Foreclosure listings.
As you can see in all the towns above the % of Short Sales and Foreclosures is high for both Active Listings and Pending Sales. However, the worst part is that when looked at as a percentage of Pending Sales the Short Sale and Foreclosure share of Pending Sales is relatively high when compared to percentage of Active Listings to the tune of 50%+. This means that regular (i.e. non Short Sale and Foreclosure) listings will have a difficult time selling as a large share of Pending Sales are lower priced distressed properties.
