Nashville Home Sales up 23 Percent

Home sales in the Nashville area shot up 23 percent in October compared to the same month a year ago, the Greater Nashville Association of Realtors said today.
It was the first such rise in three years, as first-time home buyers scrambled to take advantage of an $8,000 federal tax credit that has now been extended by Congress.
The median home price in the area stayed the same as it had been over the past three months -- $160,000 – a 6 percent drop from a year ago. Realtors said that was a sign that first-time homebuyers, who tend to buy less expensive homes, are continuing to impact prices.