Gatlinburg area real estate has always been considered to be somewhat recession resistant. The thinking (which generally has proven to be correct) is that a long weekend in the Smoky Mountains is a cheaper option than a week at the beach so when times get tough, the more affordable option is attractive to potential vacationers. That has rung true again, even in the Great Recession as some commentators are now referring to our current economic climate. With many other vacation areas off dramatically from previous years our area’s summer season hasn’t been that bad. In fact, many areas are reporting modest gains from previous year’s numbers.
The only negative is that rates have been somewhat discounted as competition heats up among property owners here in the Gatlinburg/Pigeon Forge/Sevierville area. Marginal properties that don’t have a view or some other notable quality are suffering which confirms one of my core beliefs when it comes to Smoky Mountain vacation rental real estate. A view is a must! If your property doesn’t have a view it had better have a “walk to town” location or maybe a creek front setting or SOMETHING that makes it unique. Curb appeal is a necessity as well because almost all reservations are now made after an internet session. Without one of these features a property will have to be nearly given away to sell in our current market conditions.
If you have been looking for a really exceptional property we DO have some outstanding properties available. Please contact us for more information via this blog, our email Jeff@GatlinburgHomes.com, or by phone at 865-436-0444.
Jeff you are absolutely correct. People don't come to the mountains to see trees!! I have had the belief in views for 11 years and it is still paying off. My home will surpass $40,000 (gross) rentals for the 4th year in a row. Its worth keeping it in good shape and giving people what they want. Too many get lazy and figure a rental property is instant profit. It doesn't work that way, does it?