Tuesday, October 25, 2005
Dyersburg real estate market conditions as of 10/25/2005
There are several reasons for the health of the manufacturing sector here in this area. The recovery in the manufacturing sector here started over a year ago and continues to improve. We did have a bump in the road when fuel prices spiked as a result of fuel shortages causes by two recent hurricanes in the gulf. However, those same hurricanes also fueled new business for the local factories. From steel to electrical transformers to HVAC units to other building materials, the demand for these items has gone up. FEMA has participated to a great extent in purchasing much needed supplies from the factories to send down south to the ravaged areas.
The hurricanes also brought many renters and purchasers to Dyersburg. FEMA again came to town and rented many many homes and apartments for the refugees from the New Orleans and southern Mississippi area. This in turn reduced the number of available rentals which in time will drive up rental prices.
Many families are currently selling their properties in Florida at a good profit and moving to Dyersburg where they view properties here as a "bargain" I am working with many Florida families doing exactly that. So properties are selling, factories are hiring and the local economy is good. It doesn't get much better than that!
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