What $400,000 buys: Nashville, Tenn.

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What $400K will buy: Nashville, Tenn.
This traditional all-brick, two-story home originally was priced at $424,900. Built in 2002, it features a two-story foyer and hardwood floors throughout the main level. Architectural columns and a bar separate the great room with a vaulted ceiling and gas fireplace from the kitchen. The eat-in kitchen sports Corian counters, maple cabinets, island with cooktop, pantry, recessed lighting and built-in desk, says Carrie Greenway, Realtor with Village Real Estate. A formal dining room has tray ceiling and chair railing. Main-floor master suite offers his-and-hers closets and bath with jetted tub, separate shower, L-shaped double vanity and water closet. First-floor office is behind French doors. Upstairs includes a loft area, hobby room and three bedrooms, plus a bath.
4 bedrooms/2½ baths
3,360 square feet
0.25 acre
Features: Deck, built-in microwave; reverse-osmosis water purification system and water softener; security system; established trees; and two-car garage.
Listed by: Village Real Estate
What you could buy in Nashville for $400,000 a year ago.
Price trend
For $400,000 in Nashville, you’ll see “a little bit of everything,” says Greenway. In town, “you’ll either see new condos or older, smaller bungalow cottages” that have been restored or remodeled, she says. “You might even see some new construction mixed in there.” In the suburbs, the area offers a ready supply of brick homes on quarter-acre lots with plenty of upgrades, such as hardwood floors, vaulted ceilings and granite or Corian countertops. In the rural suburbs, buyers can find both new construction and ranch-style homes with acreage, she says.

There are bargains available, says Greenway. It’s definitely a buyer’s market, “but it’s not as tragic as some of the other areas.” The upside for buyers: “Your money goes much further than it would have last year at this time,” Greenway says.

Sales in the state of Tennessee declined 19 percent in 2008, according to the National Association of Realtors.