September Ends Rather Quietly in the Tennessee Smokies Real Estate Market

Gatlinburg area residential real estate sales as reported by the Great Smoky Mountain Association of Realtors for the month of September totaled only 107 units.  As we always remind readers, this is only the initial count which is always significantly revised upward.  September 2010 residential total sales however appear unlikely to reach last September's count of 139.  This means that we will for the third consecutive month fail to meet last year's tally.  Prior to this short losing streak Gatlinburg/Pigeon Forge/Sevierville area sales had totaled more than the year ago values for 12 consecutive months.  August's initial count as we reported here was 114 but now stands at 132.   I expect a similar percentage increase this month making my forecast for the final total for September 2010 home sales at around 125 units.  If my forecast is correct, that would mean a 10% drop from last year's tally.  On a more positive note, the overall total for 2010 sales now appears likely to surpass 2009's number, barring a total falling off of the cliff during the fourth quarter.  Here's the table:
For a clearer look at the table, please click here.

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