Here’s a report from WCYB 5 in Bristol, Virginia on D.R. Horton’s entry into the nearby Northeastern Tennessee market.
The company is developing a 200-lot subdivision in Piney Flats called The Cliffs at Boone Lake, with prices starting at $198,000. Given the company’s size, it’s able to build homes at around 30-40 percent less than local developers.
According to Northeast Tennessee Association of Realtors, 70 percent of our area can afford to purchase a home at a price point of up to $210,000.
“I think it’s a great sign for us,” said Karen Randolph, a realtor and president of NETAR. “Our market is going to pick up with inventory and if they keep the price point where they had originally stated they’re going to have buyers ready for their product.”
Randolph and others hope the arrival of D.R. Horton, which did not respond to requests for this story, will create a new population of home buyers in the area who are otherwise priced out of the market.
