The Limbo Dancer Slithers Even Lower for a New Record

With February '09 now in the books, at least preliminarily so, November's record low 65 residential Gatlinburg area residential real estate sales count looks as if it will be eclipsed by an even sadder number. Although all sales won't be reported for several days the count, as of this morning the total number of residential sales made by all of the members of the Great Smoky Mountain Association of Realtors during February was only 52. My estimate is that the final number when all sales are tallied will likely be around 60 or so. I know of at least one sale that I made that hasn't been entered into the system by the listing agent so I can say with certainty that we will have at least 53 total sales. I'm not certain what the latest count of agents in our board is but the number last time I heard was about 500. When only 60 sales are posted by the nearly 500 Smoky Mountain real estate agents in our board a LOT of agents went without a sale. In fact, since a few of us had more than one sale in February, the vast majority of the agents in our community failed to register a single sale during the month. Hopefully we've seen the worst but that was what I said after November's anemic results. Sadly I'm now reduced to hoping for something as positive as last fall's then thought to be sorry sales counts.

The full chart is available for those who love to watch a train wreck:
On a brighter note, there are exceptional bargains on both residences and rental cabins with the banks pricing their properties to sell. We just got the order to reduce this Sevierville starter home to a price of only $85,000 but we haven't gotten the MLS record updated yet. If you are looking for a starter home you can get the $8,000 tax credit AND get a great price on this or one of our other well priced properties.

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