It always takes about 2 weeks after month end for all the dust to settle allowing us to get a more meaningful measure of monthly residential sales for our Gatlinburg area real estate market. Now that we are about there, I thought that I would update the numbers for December and for the full 2010 year. One would certainly have to describe 2010 as being a pretty good year, at least when compared to 2008 & 2009. While the first portion of the year was slow, the pace of sales did increase in the second half of the year and with the exception of October & November finished quite nicely. Government attempts to positively influence the national real estate market did in fact cause more sales during the summer months but these gains were pretty short lived – When the incentives ended so did the bump.
Gatlinburg area sales pretty well followed the national trends and foreclosures continue to be a major part of our overall market. Although I seriously considered waiting until just one more 2010 sale was reported (I love round numbers!), that would be wrong so we’ll have to go with what we have as of this evening. That number is 1599 residential real estate transactions for 2010. Here’s the chart: