Photo by Alexander Willis
BY ALEXANDER WILLIS
Spring Hill was recently ranked the eighth easiest city to sell a home, as well as having the ninth healthiest housing market in the state, according to a study conducted by the financial technology company SmartAsset.
SmartAsset determined the rankings for the ease of sale portion of the study by the average amount of days that homes in a particular city are on the market. Spring Hill homes are usually on the market for an average of 59.1 days. The city ranked as the easiest city to sell a home in was La Vergne. Homes there are on the market for an average of 28 days.
For the overall healthiest housing markets, Spring Hill was ranked ninth in the state. The city has a healthy market index rating of 81.72 out of 100. For comparison, the city ranked with having the healthiest housing market in the state, White House, carries a healthy market index rating of 90.07.
The overall healthiest housing market rankings were determined by a number of factors, including stability, affordability, risk and ease of sale.
Spring Hill was also ranked the sixth least risky housing market in the state, with La Vergne again taking the number one spot. The risk portion of the study is determined by the percentage of homes in a particular city that have decreased in value, with Spring Hill sitting at only 4 percent, and La Vergne at 1.9 percent.
Additional facts on the housing market in Spring Hill as reported in the study include the average home cost percentage compared to the average income, which read as 19.3 percent, as well as the average time of home ownership for a particular house, which was 9.4 years.
Spring Hill was the only city in Williamson County to rank in the top ten healthiest housing markets. The only other Williamson County city to rank in the top ten of any category was Brentwood. SmartAsset ranked the city ninth in the most stable housing market category.