Middle Tennessee real estate sales in June were 13% lower than June 2023 and May 2024, which is probably no surprise to anyone with a house languishing on the market.

Greater Nashville Realtors data shows there were 3,042 sales in June compared to 3,533 the previous June and 3,509 in May.

Also in June, inventory jumped from 10,670 to 11,255. Pending sales rose compared to May by eight houses, 2,703 versus 2,695.

“This (sales) decrease is attributed to the robust property values in the region combined with the Fed’s current monetary policy,” says GNR president Kevin Wilson.

Translation: Interest rates are high and getting higher, and some sellers continue to try to profit on their home sales even though they purchased in the frenzy of 2020 to mid-2023. The sales of that era have improved, although not at the astronomical rate that prices in increased in the low-interest rate-infused COVID period.

The misinterpreted news of the national Realtor lawsuit settlement and the market slowdown have combined to leave sellers understandably confused as the real estate world turned quickly.

Overall, the rate of compensation offers seems to be less than the 3% vilified by many. Any broker who brings a buyer in this market should be coddled. Offers are slowing, and sellers should remember there is no set or mandated fee required that sellers are required to pay anyone.

Sale of the Week

2100 Timberwood Drive

Tom Andrews, the principal broker/owner at Weichert Realtors, has been around the block several thousand times over the years. Last week, he sold a custom home designed by the iconic, revered, practically deified Robert Anderson.

Having Anderson’s name associated with a property takes the home to new heights as few, if any, carry the weight of his name in the world of Nashville residential design.

Robert Anderson-designed homes in Nashville

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Local Realtor Collyn Wainwright has a website dedicated to Anderson, whom she describes as her “favorite local architect.” That description is evident in her work as she has created a spreadsheet of his houses and mapped their locations.

Additionally, she has established a map – featured here – of the homes built from his designs and has located the original architectural drawings of some of his plans.

Anderson died in 2014, but his name lives on and the hills are alive with his creativity and brilliance.

On her website (www.collyn.com/robert-anderson-architect), Wainwright has many of the articles written on Anderson, whom she describes as “the late modernist architect known for building hillside retreats on steep wooded lots in suburban Nashville.”

She has articles from Architectural Digest in 2016 and 2018. In 2015, Sophisticated Living featured Anderson’s work in the July/August edition and Garden and Gun, and The New York Times had features on Anderson that same year. All of these are available in their entirety on the site that Wainwright dedicated to her hero.

Her site also is replete with notes announcing when Anderson’s personal residences are listed for sale or rent and has photos of many of his designs posted along with information on each home. She includes an opportunity to join the Robert Anderson Fan Club, an organization in which Wainwright should have a charter membership. By the way, Wainwright is a Realtor with Pilkerton.

The property at 2100 Timberwood Drive in the Forest Hills area has the lineage of Anderson and the firepower of listing agent Tom Andrews. Andrews, of course, invokes the spirit of Anderson and drops his name with nuclear force noting house is a “one of a kind, custom designed, home by Nashville’s preeminent modern architect.”

Andrews notes the lines between the indoors and outdoors are “blurred” and there is the panoramic view of downtown Nashville from many of the floor-to-ceiling windows.

The property includes a 60-foot pool and more than 1,300 square feet of indoor and outdoor patio space on 6.14 acres. The home has 5,381 square feet.

Also included are features such as central vacuum, a storage building and a street zoned for Percy Priest elementary, John Trotwood Moore Middle School and Hillsboro High School.

Andrews, once again exhibiting his wizardry, listed the house for $4.5 million and sold it within four days in this chaotic market. William Alderson, not Anderson, who is affiliated with Reliant Realty, ERA Powered, delivered the buyer, who will dwell in the house of the legend for the next several years.

Richard Courtney is a licensed real estate broker with Fridrich & Clark Realty, LLC and can be reached at richard@richardourtney.com.