At Legacy South, we take pride in crafting homes and neighborhoods where families can build lifelong relationships and memories together, and our efforts were well rewarded in 2023. Our journey through the year was a testament to our quality construction, thoughtful design, resilience, and excellence.
As we look forward to 2024, we wanted to take a moment to reflect on all we’ve accomplished and learned in 2023 and give you a sneak peak into some of our exciting plans for 2024.
Navigating Market Challenges in 2023
This past year tested the resilience of home builders and buyers alike as inventory was low while house prices and mortgage rates climbed across Nashville’s real estate scene. Despite this, Nashville maintained its title as the #1 US market for overall real estate prospects for a third year, according to an Urban Land Institute study.
Mortgage rates hovered around a 20-year high, which was challenging for buyers, especially combined with the rising house prices. In September, the median sale price for existing homes nationwide reached $394,300, which was the third month of year-over-year price increases.
In response to the challenging landscape, we adapted and continued to offer high-quality residences in sought-after locations throughout the greater Nashville area. Similar to many others, our focus was on providing promotions or competitive pricing that often helped reduce or offset some of the costs associated with moving into a new home. This ensured that homebuyers could access residences that do not require expensive maintenance or have unseen problems, as older (resale) homes often do.
Legacy South’s Sales and Team Growth
In a market that tested even the most seasoned builders, we excelled, selling nearly 200 new homes across Middle Tennessee. This achievement was bolstered by the addition of five top-tier sales experts to our team, expanding our ability to give each customer our undivided attention. Our commitment to customer service and design excellence earned us an exemplary 4.9 Google rating, reflecting the trust and satisfaction of our customers and partners alike.
Sold-Out Communities and Design Excellence
We also completed and fully sold out of two of our communities. The Hamlet at Carothers Crossing development featured 20 single family homes in La Vergne, while the Eason delivered 48 contemporary townhomes in East Nashville. Both sold out quickly, signaling no slowdown in demand for Legacy South’s modern, quality dwellings.
Optimizing the Online Home Buying Experience
Understanding the evolving needs of today’s homebuyers, we gave our online presence an overhaul in 2023. We completely redesigned our website, which is now optimized to provide an ideal Legacy South customer experience on any platform. The new website features a Home Finder Quiz and enhanced functionality strategically developed to simplify the home buying process, facilitating the discovery of available homes and floorplans.
Future Plans: Expansion in 2024
In early 2024, we’re excited to announce the unveiling of two distinctive communities—a collection of 47 charming cottage-style single-family homes nestled in East Nashville and a classic yet modern ensemble of 68 townhomes in Murfreesboro. As the construction unfolds, we will unveil comprehensive project details and home listings. However, should your curiosity be piqued, we invite you to engage with us now. Register your interest today to ensure you stay ahead of the curve and are among the first to receive exclusive updates on these upcoming communities.
Additionally, several more Legacy South neighborhoods are in the early stages of development across the greater Nashville area and we can’t wait to reveal more details in the coming months.
Legacy South’s Continued Commitment
Reflecting on 2023, we are proud of our achievements in such a challenging market. Our focus on sustainable construction, customer satisfaction, and adaptability positions us as a leader in Nashville’s homebuilding industry. As we step into 2024, we’re filled with optimism and readiness to continue our legacy of building homes that families will treasure for generations to come.