2013 was a pretty great year for real estate, with 5.1 million home sales it was the strongest year in real estate since 2007. So good in fact, that the housing market is helping to drive the economy forward from the recession. This is certainly true for the Nashville market where homes are selling at a record pace with at 12% increase in home values year over year.

Expansion is expected to continue in 2014, but perhaps not quite as quickly due to the expected rise in interest rates. I found this chart on the national economic forecast from Realtor.org (at the national level) to be interesting and encouraging.

As for the Nashville market, I fully expect home sales to continue at a record pace. Nashville is growing by leaps and bounds and we are still in a situation where housing demand is outpacing availability – particularly in our urban neighborhoods.

It should be an interesting year! My phone is already ringing like crazy and it still feels like winter outside!