ROBERTSON COUNTY HOME SALES IN 2011 STILL IN DECLINE

The number of homes sold in Robertson County in 2011 indicates the decline which began in September ’07 in Robertson County is not getting better - instead it is continuing! Sales level has not been this low since 1997!! The median price of homes sold in 2011 in Robertson County was $132,500, 5% below 2010. During 2004-2007 the supply of homes for sale ran about 4 months supply vs. the 6 months inventory considered normal for supply and demand to be in balance. That level is now 9 months supply!! A year and a half after our recession officially ended, builders are struggling to compete in markets flooded with unsold homes - many of them foreclosures that are depressing prices. Some forecasters warn that home sales and prices are unlikely to start rising in most of the country for the next 2 or 3 years.

For 2011 the number of residential building permits issued in Robertson County for new homes was 117, down 16% from the 140 new starts in 2010. Of these new home starts Springfield had 22, White House 17, Coopertown 8, out-in-county 59. New homes being built in Robertson County now are nearly all custom built jobs for a client. Average number of homes sold in Robertson County in 2007 was 93/month, in 2008 61/month, in 2009 54/month, and in 2010 56/month and in 2011 52/month.