Do you not mind the ride? New affordable homes under construction
You can still find an affordable home in the Nashville area, but you may have to drive further than before to get it.
Ole South, the area’s largest builder, is launching a new subdivision in the town of Shelbyville, County Bedford. Regent Homes is building new homes in Mt. Pleasant in Maury County.
Both locations are about 60 miles from Nashville, but builders don’t think homebuyers will care.
“There’s the old adage ‘drive until you qualify or drive until you find something you can afford,” said David McGowan, president of Regent Homes.
“We have to go out father to family” to find affordable construction sites, he said.
Prices from Ole South to Shelbyville will range between $ 200,000 and $ 200,000, Vice President Trey Lewis said. That’s well below the median price of a home in the Nashville area, which in August was $ 395,000, according to a RE / MAX report. Regent’s pricing at Mt. Pleasant has not been announced.
“The Nashville area’s footprint continues to grow. Buyers have more choices, ”Lewis said.
Ole South will begin construction on its first 30 homes in the Wheatfield neighborhood of Shelbyville next month. The company will build 150 single-family homes ranging from 1,300 to 2,600 square feet.
The houses will have garages for two cars and three or four bedrooms. The kitchens will have granite countertops. Appliances are included, Lewis said.
Wheatfield is located near Cloverdale Road, close to freeways, which should appeal to commuters. Highway 41A goes to Nolensville and Nashville. Highway 231 is a four-lane highway connecting Murfreesboro and Interstate 24.
The search for affordable prices, the trend to work from home and strong job growth in counties surrounding Nashville are encouraging buyers to consider locations further from the city, Lewis said.
“All of Middle Tennessee is growing. People are moving further and further and businesses are expanding ”outside of cities, he said.
“People work from home. Someone can get to Murfreesboro. More and more people are working outside of metropolitan areas, ”Lewis said.
Regent has plans for 60 homes in the Sugar Creek subdivision in Mt. Pleasant. This city is west of Columbia. GM’s Spring Hill Auto Assembly Plant is nearby.
General Motors is investing $ 2 billion to convert the plant into its third electric vehicle (EV) plant in the United States. The new Cadillac LYRIQ will be the first EV produced at Spring Hill. Production of the Cadillac XT6 and XT5 will continue at Spring Hill. The plant will build both gasoline-powered Cadillac vehicles and electric vehicles.
GM and LG Energy Solution are spending $ 2.3 billion on a factory in Spring Hill to make batteries for electric vehicles. The 2.8 million square foot plant is expected to open at the end of 2023 and will employ 1,300 people. It will have the capacity to manufacture battery packs for more than 500,000 electric vehicles per year.
Maury County, located along the I-65 growth corridor, sees job creation from companies supplying both GM and the new $ 2.3 billion Mazda Toyota plant about 76 miles south of Huntsville, Ala.
“Think about the significance of GM’s announcement,” McGowan said.
Sugar Creek at Mt. Pleasant is a short distance from jobs at Columbia, Spring Hill, Thompson’s Station and Franklin. Some homebuyers skip the route altogether and are free to live where they want, he said.
“So many people work from home. Many businesses are finding that they are more productive at home, ”said McGowan.
Rural areas also attract buyers from states where they were used to long commutes.
“For people leaving California or Chicago, a 45-minute drive is nothing,” McGowan said.
Regent is also expanding into the Arden Village neighborhood of Columbia, where he is building 12 townhouses. The company is building 10 townhouses in the Harvest Point neighborhood of Columbia. Regent is preparing to begin work on 60 additional condos, townhouses and townhouses in the toll village of Thompson’s Station.
Ole South will build 58 single-family homes in the Salem Landing neighborhood, near Murfreesboro, in the community of Rockvale. The company begins work on 36 additional homes in the planned South Haven neighborhood near Highway 840 in Murfreesboro. Prices will start in the $ 300,000 range. Regent is planning 40 additional units in South Haven.
Families are drawn to South Haven, Lewis said.
“The location, the amenities, the school system,” he said.