Tennessee Fights National Trend, Experiences Drop in Foreclosure Rate

Posted in General, November 1st, 2006 |

Despite the national trend in rising foreclosure rates, Tennessee’s rate has actually fallen 7.5% from where it was at this time last year. However, the state still boasts the nation’s 13th highest foreclosure rate. This could mean that the market for foreclosures is slowing in the area, due to people being able to afford their mortgage payments because of a good economy and high job presence. The growing city of Nashville has one of the lower rates of foreclosure, while Memphis has a rate that is slightly higher.

[via Nashville Business Journal]