Continuing the downward trend the Greater Nashville Association of Realtors reported a 19.8% drop in sales compared to September 2007. (http://www.gnar.org/mlsrelease.htm) Year to date sale are down 27.5% and third quarter sales were down 26.5%.
There were two positive notes. Single Family inventory was down compared to last year for the second straight month, and down nearly 600 homes compared to last month. And the number of pending sale this year verses last year is tightening. This indicates that the percentage decline in sales in October is likely not going to match last months.