The Nashville Business Journal always has a knack for placing trends into context — case in point, their interactive Crane Watch, visualizing hundreds of Nashville development projects.
As Nashville Realtors and Nashville homeowners, we found a recent slideshow the NBJ pulled together really helpful, context-wise, too. They dug through a bunch of home-sales and home-appreciation data, spanning from several months to several years, and showed which Nashville-area zip codes have shown the most value momentum. And some of the areas — and the average prices — might surprise you.
You can check out their whole piece on Nashville’s Hottest Housing Markets at bizjournals.com. To add even more context for those of you who are thinking about buying a home in Nashville, we dug into the MLS to find homes for sale now from the top appreciating zip codes they listed in Nashville proper, and shared properties that we think have a ton of appreciation potential, both figuratively and literally. Check out our picks below.
Homes for sale in Nashville’s top-appreciating zip codes
If you follow our blog, it probably doesn’t surprise you to see 37208, which encompasses a big cross-section of North Nashville and Germantown/Salemtown, at the top here. The 37208 area around the growing Buchanan Arts District, in particular, has tons of potential, and unlike many areas in close proximity to downtown, it’s still under the mass-attention radar.
This home, 2306 Saint Louis St., is steps off buzzing Buchanan Street, built in 1920 and totally renovated with a fresh, open feel. Here’s where you really see the potential: It’s 4 beds, 2 baths and nearly 2300 polished and pretty square feet, listed at $349,999.
Home prices in East Nashville have been fast-rising for years, to where your barrier for entry in 37206 is usually at least around $200 per square foot (often significantly higher for homes in top shape). Inglewood/37216 caught up quickly too, and 37207, on the west side of Gallatin Pike, has clearly been picking up major speed — hence the No. 2 spot here.
We feel particularly good about the Cleveland and McFerrin Park areas, where lots of high profile businesses are in the works (including new restaurants from the chefs behind Rolf & Daughters and Butcher & Bee). This historic Victorian, 1016 Pennock Ave., looks like it’s in great shape, but someone with the vision to bring it back to its 1910 roots, aesthetically, could make it a serious stunner.
As creative hubs like East Nashville and Germantown have gotten pricier, a lot of Nashville musicians and artists who are looking to become homeowners have focused a little further out from downtown. One particular point of potential: the Bordeaux area, still only a dozen miles or so from the heart of downtown Nashville.
The kind of find you might stumble on in 37218: 3040 Kings Ln., a beautifully renovated, 4-bedroom midcentury ranch, listed at about $240K.
No surprise that the Southeastern part of Nashville is among the fastest growing. We’d bet that the vicinity around Woodbine and Glencliff, in particular, won’t have too many bargains to show too much longer — they’re about to get Nashville’s first cat cafe, after all.
Thinking about jumping in before Woodbine peaks? Take a look at 309 Antioch Pike, a cute midcentury cottage with a great screened porch, and fully fenced yard, listed at $315,000.
If we had to peg 37209’s significant rise on any particular corners of that large swath of Nashville, it’d probably be the Charlotte Corridor and The Nations, both hotbeds of commercial and residential development.
It certainly feels like those spots have pretty well up and come, so if you’re looking for up and coming on the west/northwest side, you might fling a little further. For new construction, our listings at Ashland Place just a few miles north are affordable townhomes with luxury details. On the older-home side, over near the less-hyped Croley Wood, you’ll find 5911 Deal Ave., a well-kept 1970 cottage with a super cute yard.
Looking to buy a home in Nashville in an area that a) you love and b) has appreciation potential? We’d be happy to talk over the possibilities with you, and help you explore some Nashville neighborhoods. Reach ACRE here, or get your Nashville househunting process started by filling out this quick form.
Listings via MLS, not under agreement with ACRE and/or Benchmark Realty, LLC, except where noted.