Absorption Rates & Months Of Inventory In Spring Hill Place Subdivision Spring Hill Tn

Homes are selling in Spring Hill Place Subdivision. As of December 31st 2010 Spring Hill Place has an absorption rate of 1 property per month going back to July1st 2010. The homes that sold during this six month period in Spring Hill Place averaged 3662 square feet in size, 4.17 bedrooms, 3 full baths and averaged .8 half baths. Spring Hill Place is a community consisting of 162 homes and is located just off of Buckner Lane in Spring Hill Tn, on the Williamson County side of the city. The subdivision offers quick access to I-65 and is located within just a few miles of shopping, fine dining and is currently zoned for Allendale Elementary, Spring Station Middle School & Independence High School. Currently there are 5 homes that show as sold and closed in Spring Hill Place in the time period of July 1st 2010 through December 31st 2010.

Courtesy of Realtracs:

Active  3 Properties Found        Spring Hill Place Active Listings
	Square Feet	Bedrooms	Full Baths	Half Baths	List Price	Sales Price	Days on Market
MIN	2,863	3	2	0	$290,000	$0	42
AVG	3,163	4	2.67	0.33	$317,933	$0	96
MEDIAN	3,261	4	3	1	$299,900	$0	100
MAX	3,366	5	3	1	$363,900	$0	147

Closed  5 Properties Found      Spring Hill Place Closed Listings
	Square Feet	Bedrooms	Full Baths	Half Baths	List Price	Sales Price	Days on Market
MIN	3,444	4	3	0	$299,900	$295,900	16
AVG	3,662	4.4	3	0.8	$356,496	$347,450	81
MEDIAN	3,649	4	3	1	$359,780	$350,000	86
MAX	3,956	5	3	1	$389,000	$377,950	146

I can now determine how many months of inventory are currently on the market based on the number of properties currently listed for sale and dividing that number by the the absorption rate of the past 6 month period. The above chart shows that there are 3 listed properties for sale in Spring Hill Place and the neighborhood has an absorption rate of .83 residential properties a month. This means that as of February 2nd 2011, Spring Hill Place has 3.6 months of inventory.

Now I want to compare Spring Hill Place Absorption Rate and Months of inventory with the rest of Spring Hill.

Courtesy Of Realtracs:

Active  390 Properties Found          Spring Hill Active Listings
	Square Feet	Bedrooms	Full Baths	Half Baths	List Price	Sales Price	Days on Market
MIN	600	0	0	0	$60,000	$0	0
AVG	2,283	3.41	2.29	0.5	$217,494	$0	119
MEDIAN	2,198	3	2	1	$190,450	$0	109
MAX	6,994	5	4	2	$689,457	$0	666

Closed  240 Properties Found       Spring Hill Closed Listings
	Square Feet	Bedrooms	Full Baths	Half Baths	List Price	Sales Price	Days on Market
MIN	780	1	1	0	$32,900	$31,000	0
AVG	2,309	3.45	2.32	0.43	$215,038	$210,047	105
MEDIAN	2,172	3	2	1	$184,200	$179,450	86
MAX	4,613	5	4	3	$699,900	$584,250	758

Here is a breakdown to compare Spring Hill Place with the rest of Spring Hill for Absorption Rates and Months of Inventory along with additional Information.

Comparison Statistics	Spring Hill Place	Spring Hill
Absorption Rate	.833 Per Month	40 Per Month
Months of Inventory	3.6 Months	9.75Months
Avg Size	3412.5 Sq/Ft	2296 Sq/Ft
Avg # of Bedrooms	4.2 Bedrooms	3.43 Bedrooms
Avg # of Full Baths	2.835	2.305
Avg # of Half Baths	.565	.465

From this information, we see that Spring Hill Place offers buyers a great opportunity to live in an area that many people have found a great place to call home at an affordable price. Spring Hill Place has only 3.6 months of Iventory vs. 9.75 months of inventory for Spring Hill as a whole. Spring Hill Place homes on average sold at just over 65% more than the other homes that sold in Spring Hill and sold for 4.3% more per Sq/Ft than the rest of the homes that sold in Spring Hill. This shows us that buyers are willing to pay more to live in Spring Hill Place than majority of the other subdivisions and areas in Spring Hill.

Spring Hill is located approximately 30 miles south of Nashville and is located just of I-65 and offers easy access to Hwy 31 and I-840 as well. Spring Hill is a growing community with a 2007 population of over 23,000 residents living on just over 17.5 square miles. Spring Hill currently has 13 public schools serving it's students with four of the schools serving the Maury County side of the city. The median income for Spring Hill households is just over $65,500 USD compared with and average of just over $38,500 USD for the state of Tennessee.

Franklin, Spring Hill & Columbia Area Real Estate Services - Steve Manley, Realtor The mysearchforhomes.com Team is your dedicated real estate professional in The Greater Nashville Tn area including, Nashville, Brentwood, Franklin, Thompsons Station, Spring Hill, Columbia. Our team is dedicated to support you with all your listing and sales needs with over 20 years in the industry.Two local numbers to call: 615-538-7490 OR 931-215-8987