Given the recent spike in home values in Williamson County – currently the fastest-growing county in Tennessee and the fastest-growing job market in the country – a Franklin, Tenn. developer has planned a community priced a “notch or two” below the market’s current highs.
The final plan calls for 25 townhomes, 14 duplex homes, and one single-family home on 5.5 acres. Each home unit will range from 1,500 to 2,200+ square feet, and Bristol Development is aiming for list prices that range between the low $300,000s and the mid $400,000s. Last month, the Williamson County median sale price was $435,000."We're trying really hard to be attainable. The idea is delivering something under that [median] mark, in downtown. That can be very attractive to a lot of people," said Bristol Senior VP Scott Black.
"It opens us up to a broader market ... because we're not shooting for that 3,000-square-foot home buyer. We're trying to make something that is cost-effective for someone who wants to live downtown."This plan is awaiting approval from the city of Franklin, but Bristol Development expects to start construction in the first quarter of 2017.