Fayette County..Tenneessee's Fastest Growing County

The population of Memphis and Shelby County continues to spill over into Fayette County, just East of Shelby County.....so much so that it is now the fastest growing county in Tennessee.

Hickory Wythe, immediately over the Shelby County line, is becoming a hot bed for growth. It has been the home of the last two Vesta Home Shows, where builders erect showcase homes in upscale communities. These homes as well as others being built in this town often offer larger lots, an acre or more, and the community also offers a more rural atmosphere while being only a short drive to the shopping and other conveniences just inside of Shelby County.

Oakland is a town in Fayette County, in the Memphis metro area. The community was originally named for a large grove of oak trees growing there. Although Oakland is growing rapidly, it offers the small town atmosphere and is only minutes from the Memphis metro area. Many people have moved here to escape some higher property taxes while also knowing that their commute to the Memphis Metro area will be shortened within just a year or so with the completion of Interstate 385 which when completed will make a new outer belt around the Memphis area.

The town of Somerville began in the middle of the Fayette County and it was named Somerville in honor of Lt. Robert Somerville, who fought in the War of 1812. Memphis was six years old at this time and La Grange, a small village that took its name from LaFayette's home in France, had become the home of a number of families of wealth and refinement. Today, the city of Somerville is experiencing some of the fastest growth in the state of Tennessee. Mostly a rural and farming area, subdivisions, schools, shopping, and more are springing up as more and more residents from Memphis move out to more rural areas.

Watch over the next few years as property values continue upward in this once rural farming area that is now becoming the bedroom community to Memphis.

GREAT NEWS FOR MEMPHIS AREA HOME SALES

GREAT NEWS FOR MEMPHIS AREA HOME SALES


Germantown, Collierville, and for that matter, all of Shelby County home sales defy the national trend downwards in home sales.
In January 2006, Germantown home sales were up 26.5 percent over one year earlier. That’s better than the pace in all of Shelby County, which was still a healthy 23 percent higher than the same time last year, according to reported sales to the Memphis Area Association of Realtors.
The suburbs and the entire Memphis area are apparently ducking the national downward trend in real estate. Nationally, the sales of previously owned homes dropped 2.8 percent in January from a year earlier, the National Association of Realtors reported just last week. The Commerce Department has also reported a 5 percent drop in new home sales from 2005 figures.
But not in Shelby County.Shelby County is still experiencing slow and steady expansion, consistent with the growth of our entire marketplace. Our employment figures have also remained stable which is important in people’s decision to make a home purchase.