| A representative sampling of
data from each area is collected from the Middle Tennessee Regional Multiple Listing
Service, which inputs the data from County Tax Assessor's records. Properties that qualify
for analysis are arm's length transactions where the home was originally purchased between
1985 and 2003 and resold in 2004. Listing information is analyzed, and sales with
significant alterations that would affect value are excluded. The amount of appreciation
or depreciation is then calculated from each qualifying transaction. The individual
transactions in each neighborhood are considered as a whole and a rate of change
estimated. New construction is not applicable to the study's methodology and is not included. Not all areas or sales were studied; statistical samples vary by area. The information in this study is general; it is intended as a guide. Each property should be considered individually through an appraisal or comparative market analysis in order to estimate its market value. |
| 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | |
| Green Hills | 6.0% | 7.0% | 1.0% | 4.0% | 1.0% | 2.0% | 2.0% |
| Belle Meade | 12.0% | 1.0% | 5.0% | 3.0% | 0.0% | 2.0% | 2.0% |
| West Meade | 6.0% | 3.0% | 6.0% | 2.0% | 0.0% | 1.0% | 1.0% |
| Bellevue | 4.0% | 3.0% | 2.0% | 4.0% | 1.0% | 0.0% | 0.0% |
| Antioch | 2.0% | -1.0% | -5.0% | 3.0% | 0.0% | 1.0% | 2.0% |
| Priest Lake | 4.0% | 2.0% | -1.0% | -1.0% | 1.0% | 2.0% | -1.0% |
| Donelson | 1.0% | 4.0% | -1.0% | 5.0% | 4.0% | 2.0% | 2.0% |
| Brentwood | 7.0% | 3.0% | 1.0% | 2.0% | 1.0% | 0.0% | 0.0% |
| Franklin | 4.0% | 3.0% | 2.0% | 2.0% | 2.0% | 0.0% | 0.0% |
| Averages | 5.1% | 2.8% | 1.1% | 2.7% | 1.1% | 1.1% | 0.8% |
| 1997 | 1996 | 1995 | 1994 | 1993 | 1992 | 1991 | |
| Green Hills | 6.0% | 8.0% | 6.0% | 8.0% | 6.0% | 0.0% | -1.0% |
| Belle Meade | 6.0% | 10.0% | 8.0% | 10.0% | 7.0% | 3.0% | -3.0% |
| West Meade | 5.0% | 7.0% | 7.0% | 8.0% | 5.0% | 3.0% | 0.0% |
| Bellevue | 5.0% | 8.0% | 6.0% | 6.0% | 4.0% | 1.0% | 0.0% |
| Antioch | 3.0% | 7.0% | 5.0% | 5.0% | 2.0% | 2.0% | 0.0% |
| Priest Lake | 4.0% | 6.0% | 6.0% | 5.0% | 2.0% | 1.0% | 0.0% |
| Donelson | 4.0% | 7.0% | 5.0% | 4.0% | 3.0% | 1.0% | 0.0% |
| Brentwood | 5.0% | 8.0% | 6.0% | 7.0% | 4.0% | 2.0% | 0.0% |
| Franklin | 4.0% | 8.0% | 6.0% | 7.0% | 4.0% | 2.0% | 0.0% |
| Averages | 4.7% | 7.7% | 6.1% | 6.7% | 4.1% | 1.7% | 0.0% |
| 1990 | 1989 | 1988 | 1987 | 1986 | 1985 | ||
| Green Hills | -2.0% | -3.0% | 0.0% | 2.0% | 4.0% | 7.0% | |
| Belle Meade | -3.0% | -3.0% | 0.0% | 4.0% | 7.0% | 10.0% | |
| West Meade | -2.0% | -2.0% | 0.0% | 2.0% | 6.0% | 6.0% | |
| Bellevue | -1.0% | -1.0% | 0.0% | 2.0% | 4.0% | 4.0% | |
| Antioch | -2.0% | -2.0% | 0.0% | 2.0% | 4.0% | 6.0% | |
| Priest Lake | -1.0% | -2.0% | -2.0% | 0.0% | 2.0% | 4.0% | |
| Donelson | -2.0% | -2.0% | 0.0% | 2.0% | 5.0% | 6.0% | |
| Brentwood | -2.0% | -3.0% | -2.0% | 0.0% | 6.0% | ||
| Franklin | -3.0% | -2.0% | 0.0% | 3.0% | 6.0% | ||
| Averages | -2.0% | -2.2% | -0.4% | 1.9% | 4.9% | 6.1% | |
| EXAMPLE USING WEST MEADE | ||||||
The indicated annual rates of appreciation are based on composite annual indications for a net effective rate. Based on these estimates two different homes purchased in West Meade for $100,000, one in January of 1985 and the second in January of 1990 would have had the following estimated value in December of each year based on the rates of change estimated in the table above. In the first example, the house would have appreciated 6% in 1985 to $106,000. In 1986 that $106,000 would have appreciated 6% to $112,360, and in 1987 that $112,360 would have appreciated 2% to $114,607, and so forth. In the second example the house would have depreciated 2% by the end of 1990 to $98,000. It would remain the same in 1991, then it would appreciate 3% in 1992 to $100,940, and so forth to $159,286 in December 2003. |
Example One | |||||
| January 1985 | $100,000 | |||||
| December 1985 | $106,000 | |||||
| December 1986 | $112,360 | |||||
| December 1987 | $114,607 | |||||
| December 1988 | $114,607 | Example Two | ||||
| December 1989 | $112,315 | January 1990 | $100,000 | |||
| December 1990 | $110,069 | December 1990 | $ 98,000 | |||
| December 1991 | $110,069 | December 1991 | $ 98,000 | |||
| December 1992 | $113,370 | December 1992 | $100,940 | |||
| December 1993 | $119,039 | December 1993 | $105,987 | |||
| December 1994 | $128,562 | December 1994 | $114,466 | |||
| December 1995 | $137,561 | December 1995 | $122,479 | |||
| December 1996 | $148,566 | December 1996 | $132,277 | |||
| December 1997 | $157,480 | December 1997 | $140,214 | |||
| December 1998 | $159,055 | December 1998 | $141,616 | |||
| December 1999 | $160,646 | December 1999 | $143,032 | |||
| December 2000 | $160,646 | December 2000 | $143,032 | |||
| December 2001 | $163,859 | December 2001 | $145,893 | |||
| December 2002 | $173,691 | December 2002 | $154,647 | |||
| December 2003 | $178,902 | December 2003 | $159,286 | |||
| December 2004 | $189,636 | December 2004 | $168,843 | |||
| Manier
and Exton - Real Estate Appraisers and Consultants
2912 Berry Hill Drive - Nashville - Tennessee - 37204 |
E-Mail richard@exton.biz - Telephone 615-383-8751 - Fax 615-383-2114 |