Friday, October 3, 2014

Nashville Scene article highlights Eastwood in discussion of housing price/rental price increases in Nashville

This week's Nashville Scene includes a feature article on rapidly rising home sales price and rental price increases in Nashville and cites Eastwood as a prime example of this trend.  The article is entitled, "Can The People Nashville Hopes To Attract Afford To Move Here And Can The Residents Who Made It Desirable Afford To Stay?" The article is written by veteran journalist J.R. Lind.  A link to the article can be found here

The article cites data tracking median home sales/rental price increases during what author J. R. Lind calls Nashville's "It City" period from January 2013 to the present (as of September 2014).  The article cites a list of well-known and lesser-known Nashville neighborhoods but Eastwood features prominently.

The article states that during this "It City" period, Eastwood leads East Nashville home sales price increases at 18%, with our neighbor to the south, Lockeland Springs, at 15%.  Mr. Lind goes on to state that "Eastwood . . . is near the top in the city in rental increases, too.  It's up 15% for the It City period."

The article goes on to speculate that the affordability of neighborhoods like Eastwood is a significant contributor to our character.  And the argument is that as that affordability wanes, so, too, will part of the accessibility and attraction to our neighborhood for middle-income individuals and families.

No doubt, this article will provide fodder for many conversations between Eastwood Neighbors as our neighborhood experiences some of the benefits and some of the growing pains that Nashville's - and specifically East Nashville's and even more specifically Eastwood's - profile rises.