I was speaking with my broker about a cash deal that I negotiated last month. He said that of KW Nashville’s 54 closings in February that 12 were cash deals. That is 22% of sales. That was astounding to me. That emphatically states that people with money are not hiding it under their mattress. These buyers are recognizing market conditions that may not come around anytime soon. People with the ability to pay cash for real estate generally are more sophisticated with their money and are not the type of people to make rash or financially stupid decisions.

Additionally, I just watched a speech featuring Lawrence Yun, chief economist for the National Association of Realtors. He stated that in February of ’11 that 33% of all buyers were all cash buyers and then in March of ’11 that figure went up to 35%. Those numbers are even more compelling than what Nashville is experiencing.

Don’t miss this once in a lifetime buying opportunity.