Right now in Chattanooga, Tennessee, and Bradley County, Tennessee, the economy looks bright as Volkswagen is already expanding a major billion dollar Volkswagen production plant prior to its even being complete. September, 2009, will see the beginning of 2,000+ new jobs for this plant and ancillary businesses openings. A major chemical plant has begun construction on a several billion dollar investment in the region and another French concern is bringing in 250+ nuclear engineers to boost its nuclear reactor business in the Tennessee Valley.

If an area so diversified, not tied to one or two industries, tourist or second home sale, then downturns in the national economy will not affect individual home sale as greatly as if the opposite were true.

Chattanooga is actually a market in which the average home price has increased slightly in the last quarter of 2008 – a bright spot in the national economy and one of only 11 metro areas in the United States to have an increase in median home sale prices.

We at Herman Walldorf & Co., Realtors, want to supply the above information to say “not all is gloom and doom” but that, at least in the Chattanooga metropolitan area, good things are happening.

Posted on Friday, May 22nd, 2009 at 1:57 pm and is filed under Real Estate Market. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.