Published annually by East Tennessee REALTORS®, the State of Housing report offers a high-level analysis of the latest housing and economic data and forecasts trends for the region’s housing market to help REALTORS®, industry stakeholders, and policymakers better understand what to expect in the year ahead.
Throughout this report, the theme of market normalization and gentle correction recurs in our analysis as East Tennessee moves past the disruptive events of the pandemic and subsequent effects on housing. Despite many headwinds challenging affordability and slowing sales, East Tennessee’s housing market is poised for growth and recovery.
While challenges linger, we remain grateful for the resilience and stability of the region and dedicated to supporting that vibrancy through education and advocacy for smart growth policies.
The market currently stands at a promising tipping point. If advocates, neighbors, elected officials, policymakers and community leaders can work together to reduce barriers and increase housing supply and diversity, the region could reach a healthy balance of inventory and improve affordability in as little as five to ten years.
We must urgently invest in our housing today to support the growth and prosperity of tomorrow.
