Scott T. Sohr Sells Smyrna Properties to D.R. Horton Inc.
Nashville, TN, March 17, 2013 --(PR.com
)-- Scott T. Sohr, a prominent developer in Nashville, announces the sale of 28 Smyrna-based Woodmont properties to one of the largest homebuilders in the country. D.R. Horton paid $1.4 million for the land, located in a prime area of Smyrna, according to Scott T. Sohr.
As Scott T. Sohr points out, with this purchase D.R. Horton returns to the Nashville housing market after an absence lasting more than 15 years. Based in Texas, D.R. Horton closed nearly 19,000 homes around the country during the course of the previous fiscal year. Noting that D.R. Horton is one of many homebuilders searching middle Tennessee for potential properties, Scott T. Sohr believes this is promising news for the Nashville housing market.
Smyrna has experienced significant growth in the past few years, reports Scott T. Sohr, thanks to the relocation of several major employers to the area. Scott T. Sohr purchased the Woodmont lots several years ago as a joint venture with his business partners, but eventually Scott T. Sohr became the sole owner of the properties. Last year, homebuilding permit requests were up a full 20 percent from the previous year, illustrating the importance of providing lots to those homebuilders who are searching to acquire them.
Scott T. Sohr expects development on the Woodmont properties to begin soon, with homes possibly available as soon as this summer. Prices of the houses, estimates Scott T. Sohr, will begin in the $250,000-range, with five different floor plans available to interested buyers. Because it provides easy interstate access and back roads that lead to heavily-populated areas like Franklin, Scott T. Sohr believes the Woodmont properties will be hot commodities for many homebuyers in the middle Tennessee area.
Following the sale to D.R. Horton, hundreds of Woodmont lots still remain under the ownership of Scott T. Sohr, who has plans to continue developing those properties. As Nashville expands over the coming years and the housing market grows, property developers will need to have lots available for the homebuilders interested in purchasing in the area, according to Scott T. Sohr.
Smyrna’s town planner, Kevin Rigsby, echoed the words of Scott T. Sohr when it comes to the growth of the area. He says Smyrna is a growing community that has seen increased activity in recent months. Numerous restaurants, shopping centers, and businesses populate the city, which Scott T. Sohr has found provides residents plenty to do without ever leaving town. And, as Scott T. Sohr points out, the area is close enough to Nashville that residents can make an easy daily commute.
Scott T. Sohr is a Nashville-based developer. After working as a businessman in a variety of industries, Scott T. Sohr has built a long, successful career in the property development market. He lives in Nashville with his wife and their children.