MARKET AREA UPDATE Year: 2017 Report as of: 1Q 2Q 3Q 4Q

Market Area (City, State): Nashville, TN / Middle TN & Surrounding Areas

Provided by (Company / Companies): Berkshire Hathaway Woodmont, Coldwell Banker Barnes, Crye-Leike Realtors,

ERA Reliant Realty, Parks Realty, Zeitlin & Co. Realtors

Provided by RDC Member(s): Tonya Hamilton, Robin Allen, Jan Harbor, Tammy Carroll, Michele Barnes, Paige Thompson

What are the most significant trends in your current real estate market? (Attach addenda, charts, graphs, etc. as appropriate)

*Nashville in the top 10 hottest hosing markets for 2017. Region housing market on pace for record year in sales / Greater

Nashville Association of Realtors info. TN one of country’s best places for business. Unemployment rate all-time low.

Define Market Area: Urban (city limit area only) Metro Area (as defined by MSA) Other: Please explain: Davidson, Rutherford, Sumner, Wilson & Williamson Counties * Single Family

(detached) Condominiums / Townhomes

(attached)

**Sales Price (current) Choose one: Average Median

$ 364,567

$ 234,726

**Sales Price (same time prior year) Choose one: Average Median

$ 331,802

$ 217,154

Average Days on Market – list to contract (current)

# 25 Increase Decreasing Stable

# 24 Increase Decreasing Stable

Absorption – Months of Inventory (last 3 months) Number of active listings divided by the average # of sales per month (for the last 3 months) = # of months needed to sell existing inventory Example: Active Listings = 4500 Closed sales in the past 3 months = 4000 RIGHT: 4,000/3 (months)=1,333 (sales per month)

4,500/1,333=3.37 months of inventory WRONG: 4,500/4,000=1 month of inventory

# 1.89

# 1.42

Absorption – Months of Inventory (same time prior year) # 1.85 # 1.10

Active Listings # 5,362 # 595

Closed ( total last 3 months) # 8,435 # 1256

Expired Listings ( total last 3 months if available) # 1,284 # 77

Change in Home Values

% 9.5

Increase in past 3 months

Stable

Decreasing in past 3 months

% 9.2

Increase in past 3 months

Stable

Decreasing in past 3 months

Sold LP/SP Ratio (last 3 months) % 99.28 % 99.4

**Average = the result by adding all sales prices and dividing by the number of units sold Median = denoting the middle of the range of values

How would you rate the overall economic conditions in area as defined above: Mixed Stable Healthy Shrinking Depressed Supply of Listings: (Single family) Shortage Oversupply Balanced ~ (Condo/Town home) Shortage Oversupply Balanced Overall Market Conditions: Active Stable Sluggish Flat Depressed Unemployment Rate: % % 2.9 Average – Please check trend: Increasing Decreasing Same Please describe local economic conditions/climate: (draw upon newspaper articles concerning the coming and going of corporations, layoffs, etc.) * All time low for unemployment rate and is the 4th consecutive month TN has seen a decline in the statistic per Gov. Haslam & Bureau of Labor

Statistics / U.S Department of Labor

Is There a Charge for Rental Assistance: Yes No Outsourced Is Home/Condo Rental Information Available in Your MLS: Yes No

Single Family Housing Availability: (3+Bedrooms) Shortage Oversupply Balanced Average Rent 2500

Condo/Townhome Availability: (2+Bedrooms) Shortage Oversupply Balanced Average Rent 1900

Apartment Availability: (2+Bedrooms) Shortage Oversupply Balanced Average Rent 1250

REAL ESTATE MARKET DATA

GENERAL ECONOMY

RENTAL INFORMATION