Real estate is getting hotter. One recent article in the Nashville press speaks of bidding wars in Green Hills, where I live. The other is about a shortage of houses here for rent (even though the end of that piece suggests that some houses are not selling as fast the first article says). Bottom line, supply appears to have gone down, while demand has gone up.
What happens with the real estate in a city Nashville's size does not mean much (even if it is home to one of the the coolest musical communities in the world). However, I sent these links to a friend of mine who studies real estate markets very closely, nationally, and he tells me that these Nashville stories are typical of the pickup that he is seeing in most areas of the country.
I expressed some "Here we go again" concern to him. He said he is not worried about a new bubble because lending standards have stayed strong. Buyers are putting 20% down again. I am partially (though not wholly) reassured.
