Local Housing Market Showing Signs of Rebound
This video is no longer available.
JACKSON, Tenn- According to economists, the housing market is bouncing back; but are West Tennesseans noticing the difference? It has been a rough few years for the housing market; and 30 year Real Estate veteran, Gerry Neese, said it is still not over for the Hub City. “We’ve seen dips in the market through the years; but never anything like this,” said Neese. According to a Corelogic Report, home values in Jackson have decreased more than 4 four percent from 2011. Neese, who also serves on the Madison County Planning Commission, said the drop in property taxes affects everyone. “You end up having to raise taxes in order to sustain your revenue,” said Neese. Neese said the housing market gets a boost every Spring after slow Winter sales. So it is too early to tell if the market in the city is in fact, recovering; but he said he is optimistic. “I think it will get better. I don’t know when; but I’m sure it will,” said Neese.
