The Tennessee real estate market has joined the majority of the nation with a downward slide in housing prices. An increase in inventory has translated to a slower marketplace in most of Tennessee real estate as home owners have begun to make concessions to buyers.
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Mortgage rates have dropped after the Fed cut a series of interest rates, giving hope to
many of the estimated 5 million home owners, who are expecting increases in their adjustable
rate mortgages through 2009. A variety of loans are available in today’s competitive marketplace,
including adjustable rate mortgages, fixed rate loans and interest only loans. But subprime loans
have all but dried up in the market place as a result of the lack of investors willing to take on
the additional risk in the current economic environment.
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