Brentwood, TN Home Price Forecast for 2015 – 2016

Yesterday, Freddie Mac’s chief economist Sean Becketti gave a mid-year update on the state of the U.S. housing market. By his team’s estimation, home prices nationwide are expected to rise by around 4% during the 2015 calendar year.

But what’s happening closer to home? What can we expect for home prices in Brentwood, Tennessee? Here’s an updated look at pricing trends in and around Brentwood.

A Brief History: The Roller Coaster of Price Fluctuation

Home prices in Brentwood, Tennessee rose sharply during the early 2000s, as they did in most parts of the country. This was during the infamous housing bubble that we all know so well. But that party didn’t last long.

Brentwood property values began to drop in 2007, and they didn’t find a hard “bottom” until 2011. Midway through 2011, local home prices began to rise again. They’ve been rising steadily since then.

Home prices in Brentwood are currently higher than they were at the peak of the housing bubble. We’ve regained what was lost during the housing crisis — and then some.
Consider the evidence. In November 2006, at the height of the bubble, the median sale price for homes in Brentwood, Tennessee was $579,000. In May 2015, the median was $626,000.

The roller coaster started on one hill, dropped into a valley, and now sits on an even higher hill. That’s where Brentwood home prices are today, as of summer 2015. The million-dollar question is, what can we expect going forward?

Forecast for Home Prices in Brentwood, Tennessee: 2015 – 2016

According to Zillow, house values in the Brentwood area have risen by 4.5% over the last year or so. Their one-year forecast is more modest by comparison. The company expects local home values to rise by around 1.8% over the next 12 months (July 2015 – July 2016). But this is based on Zillow’s proprietary method for measuring prices, which isn’t always 100% accurate. So take it for what it’s worth.

Still, the Zillow forecast does mirror the predictions made by other housing analysts. The general consensus among economists is that home prices — in Brentwood and elsewhere across the country — will continue rising into 2016, but probably at a slower pace than the last year or so.

Currently, the average home price in Brentwood, Tennessee is around $817,313, according to data collected by This is a different metric from the median sale price mentioned earlier, hence the higher value.

The bottom line is that property values in our area have risen steadily since recovering from the housing crisis. And based on the current supply and demand situation, there’s a good chance that Brentwood home prices will continue rising through 2015 and into 2016.

Low mortgage rates are also having a positive impact on local home prices, by bringing a continuous stream of buyers into the market. Borrowers with good credit can get a 30-year fixed-rate mortgage with a rate as low as 4%, according to the latest survey from Freddie Mac. But rates have inched upward in recent weeks, and this could create more urgency among home buyers. All of this serves to increase demand and boost house values.

So there you have it, an update on Brentwood, Tennessee home prices for summer 2015. Strong demand and limited inventory are fueling property value appreciation all over Williamson County, a trend that could continue through the end of the year.

Disclaimers: This article contains third-party data and statistics that are deemed reliable but not guaranteed. It also contains predictions and forecasts for Brentwood home prices and real estate trends for 2015 – 2016. Such statements are the equivalent of an educated guess and should not be viewed as financial advice. We make no claims or guarantees about future housing conditions in Brentwood or elsewhere.

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