Final reappraisal: Nashville property values soar by record 37 percent
Cleveland Park, McFerrin Park and East Hill used to be parts of East Nashville ignored by developers.
But now this area is a magnet for home makeovers, new restaurants and urban-inspired condos, setting the pace for the city’s massive increase in property values.
Reappraisal notices are in the mail, and the spike is even larger than expected.
Spurred by Nashville's breakneck growth, Davidson County's property values have soared by a record median 37 percent since 2013 under a reappraisal performed by the office of Davidson County Property Assessor Vivian Wilhoite. The reappraisal accounts for commercial and residential properties.
Wilhoite, in her first year in that role, informed Metro Council members of the final reappraisal figure in a letter Friday. She said property owners should begin receiving mailed notices of the changes in values as early as Friday.
In Nashville's most rapidly gentrifying neighborhoods — including large stretches of East Nashville, parts of North Nashville, The Nations in West Nashville, and Wedgewood-Houston near the city’s fairgrounds — values have skyrocketed the most.
It means these neighborhoods will be taking on a significantly larger tax burden than they’re accustomed.
“The growing demand for real estate in the Nashville market drives up values,” Wilhoite said.
Homes today are bought & sold quickly, and they are often treated like a widget, just another interchangeable product. But each home has a story. And those details - those intangible & personal specifics - are what buyers often want to know the most. Square footage, bedrooms, and bathrooms will always be important. But it's not everything.
Here is the HOME MOVIE for POST & CO'S newest listing at 4348 Oakcrest Lane in Hermitage.
1917 riverfront home in Palatka, FL – $399K for 3800 sq ft on .65 acre
Located in Historic Palatka, Fl, The Gem City of the St. Johns River, & just 30 mi to beautiful Atlantic beaches this riverfront beauty embodies the southern charm of days gone by. Imagine yourself sitting on the porch enjoying the Fl breezes rolling in from the gorgeous St. Johns River. Or observing the manatees from your dock as they swim by & birdwatching from the lrg back yard. If boating is your thing, St. Johns River offers miles & miles of fresh water navigation & points of entry to the Atlantic Ocean. This home speaks to the soul embracing you with the custom millwork throughout, spacious rms & beautiful lead glass built -ins. Known as the Wilson house, this home was built by the Wilson family that owned & operated the Wilson Cypress Plant in Palatka. Specialty cypress wood was used during construction creating a one of a kind homestead that has been enjoyed for years and years. With loving hands, this home deserves to be restored to all its potential glory. The front entrance way at the first level welcomes you immediately to river front views & spacious rms: living, dining, parlor, kitchen, 1/2 bath, full handicap bath, laundry room & several lrg porches both open and screened. 2 beautiful staircases take you to the 2nd level where you'll find 4 bedrooms, 2 baths and 3 sun rms. The 3rd level is semi-finished attic space featuring cedar wood closets. Rarely do you find basements in Fl but this one has one! There is so much potential here...the river says come & play, the home says come & live!