Somerville, TN

Somerville, Tennessee is a small town located in the eastern part of the state. The population was just over 2,000 people in 2010. Somerville is known for its agricultural and forestry industries, as well as its real estate market.

The real estate market in Somerville is characterized by a high level of competition among buyers and sellers. The average home price in the town was $128,000 in 2016. The median home price was $119,000 during that same period. The demand for housing in Somerville is high due to its proximity to Nashville and other major cities.

There are a number of factors that contribute to the high demand for housing in Somerville. First, the town has a relatively low unemployment rate (4% as of May 2017). Second, there are a number of new businesses moving into the area which are requiring more housing space than what is currently available. Finally, Somerville residents have an average income that is above the state average. This means that they are able to afford higher-priced homes than most people in Tennessee.

Despite these positive factors, there are also some challenges facing the real estate market in Somerville. One issue is that there is not enough available land for new homes or businesses to be built on. This limits the amount of potential buyers and sellers who can participate in the marketplaces at any given time. Additionally, many homeowners who bought homes during the boom years (between 2007 and 2012) have seen their values decline since then due to inflationary pressures and other economic factors outside of their control (such as interest rates). As a result, many homeowners are now looking to sell their homes at lower prices than they originally paid for them