Report: Tennessee Mortgage Seekers Take Advantage of Internet

The Nashville housing market is moving along nicely.

And those involved in it appear to have the Internet to thank for such success.

The Greater Nashville Association of Realtors reported that more than two-thirds of home buyers in the region surveyed last year used the Net frequently during their house-hunting.

This statistic and others were in a 2006 survey that polled 347 residents of the greater Nashville area.

According to a press release, 69 percent of recent home buyers used the Internet frequently to search for homes and compare Tennesee mortgage products, compared to a national average of 59 percent.

The median household income of local home buyers was $64,800, compared to $71,800 nationally. The median price of homes purchased in greater Nashville was $184,000, compared to $214,000 nationally.

On average, city residents owned their houses for six years before selling and these pieces of property were on the market for six weeks. That’s still an above average period of time, putting the ball in the court of home purchase loan applicants during negotiations.