Washington, Hawkins counties’ real estate were standouts coming out of pandemic
GRAY, Tenn. – Here’s a benchmarking look back at how the local real estate industry’s GDP looked coming out of the pandemic. GDP is the industry’s total economic output. The most current Bureau of Economic Analysis (BEA) is for 2021.
Unfortunately, the year-over-year percent change for the local and regional Combined Statistical Area (CSA) was not disclosed “avoid disclosure of confidential information.” However, most of that data from the Metropolitan Statistical Areas (MSA) and the counties is in the report.
The Johnson City metro area had the largest percentage change from the previous year – 8.4%. That was the second-highest gain among East Tennessee metro areas. Knoxville was up 8.5%. Both were well ahead of the state’s 5.7% gain.
Kingsport-Bristol’s total real estate economic output was up 5.6%.
County-level standouts were Washington, TN, and Hawkins counties. The only county where the year-over-year gain was suppressed was Unicoi Co.
Here’s how the county-level real estate economic gains looked for the pandemic recovery year.
Washington, TN – up 17.2%
Hawkins – up 11.4%
Washington, VA – up 5.2%
Sullivan – up 3.3%
Greene – up 3%
Carter – up 2.8%
Scott VA – up 2.4%
Johnson – up 2.2%
NETAR is the voice for real estate in Northeast Tennessee. It is the largest trade association in the Northeast Tennessee, Southwest Virginia region, representing over 1,600+ members and 100+ business partners involved in all aspects of the residential and commercial real estate industries. Weekly market reports and information for both consumers and members are available on the NETAR website at https://netar.us