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An indicator of the bipolar real estate market in the country is Nashville, Tennessee.  As some regions in the country are experiencing a price decreases, other areas such as Nashville are still seeing double digit growth. This is the perspective battle that we who follow real estate trends are all facing.

If you are living in Southern California or the northeast you are watching the housing market closing in on crisis. Most of the country is not seeing these issues at all, with there housing market resembling Nashville more than Washington DC.

Matt Pickney’s search for his first home began with two disappointments, but it ended with him settling into a $155,000 house in Smyrna last month.Along the way, Pickney contributed to a double-digit gain in Nashville area home sales for February as homebuyers shrugged off rising mortgage rates, which by this week hit a two-and-a-half year high at 6.37% on a 30-year loan. Pickney paid about a quarter-point more than that.

“I was ecstatic to find a house at the price I found it,” said Pickney, 24, a first-time homebuyer who found the home of his dreams after two other possibilities fell through.He ended up paying roughly $15,000 more than he initially intended to, but he considers the Brandywine subdivision where he ended up a worthwhile landing.

Last month, 2,610 residential properties changed hands in the Nashville area, up 11.6% from a year ago, according to figures from the Greater Nashville Association of Realtors. That comes on the heels of a 12% year-over-year increase in January. via the Gallatin News Examiner.

Related posts:

1. Nashville, Tennessee Home Sales are Soaring
2. Nashville Real Estate Market Strong Bucking National Trend
3. Home Sales Inch Up in March 2006 While Inventory Grows Quickly
4. New Home Sales Fall 11.3% from October
5. Home Sales Down For 2006 by 8.4% - Median Price Up 1.1%