Quick unusual statistic: No rental properties have ever existed in Brentwood because zoning laws prohibited any apartments from being built. However, that has now changed.
A total of 400 condominium apartments will be constructed in the Town Center section of Brentwood, just west of Interstate 65 and south of Old Hickory Boulevard. Nashville-based Bristol Development Group is overseeing the Town Center project.
"Up until now, when Brentwood homeowners perhaps wanted to downsize into an apartment or rental property, they had to look outside the city,” says Allison King, government affairs and communications director for the Williamson County Association of Realtors. “But with a city zoning change in 2011, and with Town Center condos being built and occupied beginning in 2013, residents can remain in Brentwood. Those condo apartment units are already creating a lot of buzz and attention, and will be perfect residences for people such as empty nesters and young professionals.”
2012: Good Time for Houses
Like everywhere nationally, the last few years have been difficult for the Brentwood real estate market, but King says Brentwood began to rebound somewhat in 2011.
"I think the strong schools and economic development opportunities have families continuing to be interested in locating here, and the city is faring well in home sales compared to many,” she says. "Several indicators are showing that 2012 will improve sales numbers even more.”
King says low interest rates make 2012 a good time to jump back into the housing market.
"Brentwood has a wide range of housing options, from traditional neighborhoods to newly planned subdivisions with amenities that are attractive to a lot of families, young couples, empty nesters and single people,” she says. “The city has several homes with larger lots, and today, there are wide price ranges and values to choose from. You can get a single-family home in 2012 in the low $200,000s, and go all the way up to well over $1 million.”
Five Bedrooms, Six Bathrooms
King points out that a couple of the more established neighborhoods in Brentwood are Carondelet off Concord Road as well as Meadowlake, which features one-acre lots with homes that were built in the 1960s and 1970s. Meanwhile, several new developments are gaining a lot of recogntion, including Fountainbrooke where a 6,500-square-foot, five-bedroom, six-bathroom home is priced around $750,000.
"Another new development getting attention is the exclusive Annandale, which had a very successful Parade of Homes showing in the fall of 2011, with listings of $1 million to $3 million and up,” King says. “The real estate market in Brentwood is all about options, and those options will increase even more once Town Center comes on board.”