March 21, 2017
by Bill Lewis
Home builders in Williamson County are doing what manufacturers of everything from vehicles to dresses do when demand for their products exceeds supply. They’re making more.
Several of Middle Tennessee’s largest builders are introducing or expanding new home communities in Williamson County. Their timing is good. Buyers are snapping up homes quickly as prices rise.
The median price of a home rose to $447,868 in February, according to the Williamson County Association of Realtors (WCAR). The price in February 2016 was $396,970.
Homes are selling faster, too. Houses sold last month were on the market for an average of 59 days. Condos typically sold in 34 days. A year ago, it took 66 days to sell the average house and 52 days to sell a condo.
More homes are being sold, but buyers have fewer to choose from. There were 320 sales in February, a 14.3 percent increase over last year. There were 1,369 residences on the market last month, a 14.6 reduction of inventory from February 2016, according to the WCAR.
The Jones Co. is one of the builders launching new subdivisions and expanding existing neighborhoods.
“We have so much coming up in Williamson County,” said Jen Lucy, the company’s director of sales.
The Jones Co. will build 66 new homes in Franklin’s Enderly Pointe at Ladd Park neighborhood, where homes currently start around $400,000. The company is also launching the Crest at Ladd Park with 80 larger manor homes featuring three-car garages.
Another new neighborhood, The Woods at Burberry Glen, is in Nolensville off Fly Road. That subdivision will have 114 homes. Jones, Meritage Homes and DAC Custom Homes have lots in Burberry Glen.
Jones will build its Carriage series of homes in The Woods at Burberry Glen, with floorplans similar to those in the nearby Summerlyn neighborhood. Prices will be similar as well, starting in the $400,000s, said Lucy.
The company is also expanding Summerlyn, where it is opening a new phase with 30 home sites.
The Woods at Burberry Glen will feature walking trails and pocket parks, “things not high on HOA dues,” said Lucy.
The Jones Co. is also introducing the previously announced Brooksbank Estates neighborhood off Sam Donald Road near Split Log Road between Nolensville and Brentwood. The neighborhood will have 58 home sites on 65 acres. Prices range from the $500,000s to the low $600,000s.
Pulte Homes is offering homes in the Benevento East subdivision in Spring Hill, where prices begin at $359,990, and in Taramore in Brentwood, says spokeswoman Valerie Dolenga.
Pulte offers three different collections of homes in Taramore, located off Split Log Road not far from Marcella Vivrette Smith Park. A small number of townhomes are being offered, with prices beginning in the mid-$400,000s. Cottage homes are priced in the $600,000s and executive homes range from the $700,000s to $1 million.
In mid-February Pulte opened a new model home in Benevento East featuring two bedrooms on the main level, a feature that is increasingly in demand. The community has ranch style homes as well as two-story houses.
“There are only about 45 home sites in the community and demand is high, so we expect these to sell rather quickly,” said Dolenga.
Taramore has 115 home sites surrounding the 1845 James Sayers house. That restored house is the community’s club and contains a fitness center and an entertaining area. Neighborhood features include lighted tennis courts, a pool with a water slide, a park and trails connecting to Brentwood’s trail system
Pulte also offers homes in Brixworth in Thompson’s Station and in Amelia Park in Franklin. The company recently began offering basement home sites in Amelia Park. Prices in both communities begin in the high $300,000s.
“Williamson County continues to be a desirable place for buyers as more jobs are coming to the area,” said Dolenga.