Thoughts on GM's Impact on Spring Hill TN's Housing Market

What Will Happen to Spring Hill Home Values

GM announced that Orion, Michigan and not Spring Hill, Tennessee will be the recipient of General Motor's small car production. What does this mean for the Spring Hill community and more specifically home sales when operations shut down the end of this year?

To get an idea on the possible impact it is important to examine the growth of Spring Hill as it paralleled the size of the Saturn, then GM workforce at the Spring Hill facility. In the mid to late 1990's (where the chart below begins) the Saturn Facility employed close to 8,000 people in Spring Hill. 1996 was a record year for GM and Saturn having been the first US automaker that was profitable in the small car line for the first time in 30 years.

Yet as we look at the chart below there were only 96 home sales in Spring Hill. Aside from the hidden away plant, the town was still a quaint farming community. As the employment numbers gradually slipped to the current 2,700 total, the popularity of the community and home sales increased. Aside from the national housing market slip of the past 2 and a half years, Spring Hill has posted steady and healthy growth.

As the housing market continues to rebound, look for Spring Hill to remain vibrant, not because of its relationship to the auto industry, but its proximity to a healthy Greater Nashville economy. One has only to look at the roadways between Spring Hill and Nashville to see the evidence of this.

Nobody here or anywhere is suggesting that this move by GM won't have a significant economic impact on the entire area. But the numbers above may help put some perspective on how much impact there will be on the housing market.

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Franklin TN - Area and Market Report Index

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