Kingsport, TN area has one of the largest 1st quarter 2009 loss for House Price Appreciation in the U.S.
The real estate house prices in the Kingsport area appears to have stopped its rising trend.
Kingsport area had one of the largest 1st quarter 2009 house price decrease of all of the cities in United States that are listed in the Federal Housing Finance Agency’s House Price Index (HPI report.
Kingsport’s first quarter house prices were down –2.9 percent. This gave Kingsport a rank of 288 out of 294 MSA’s ranked on the Federal Housing Finance Agency’s House Price Index (HPI report. There were six other MSA’s that had a lower 2009 first quarter than Kingsport and they are:
| Monroe, LA -3.08% | Reno-Sparks, NV -3.72% |
| Decatur, AL -3.09% | Miami-Miami Beach-Kendall, FL -4.97% |
| Montgomery, AL -3.49% | Port St Lucie, FL -6.3% |
Much has been said about the housing values in the Kingsport area. It seem that Kingsport is not doing as well despite what the local politicians have stated. While it is true that Kingsport did beat other Tennessee areas with its one year growth of 1.27 percent, but, one needs also to look at what has happened in the first quarter of 2009 and also look at the 5-year growth.
There are other areas of Tennessee that did not experience the loss that Kingsport had in the first quarter of 2009 and the other areas have an equal or better 5-year growth.
| Metropolitan Statistical Area ++ | Rank 1-Yr** | 1-Yr. | Rank 1st Qtr 09 | 1st-Qtr. 2009 | Rank 5-Yr | 5-Yr. |
| Kingsport-Bristol, TN-VA | 44 | 1.27% | 288 | -2.99% | 91 | 28.68% |
| Nashville-Murfreesboro-Franklin, TN | 89 | 0.00% | 227 | -0.79% | 87 | 29.32% |
| Knoxville, TN | 90 | -0.03% | 127 | 0.35% | 80 | 18.50% |
| Chattanooga, TN-GA | 92 | 1.34% | 38 | 1.94% | 121 | 22.83% |
| Memphis, TN-MS-AR | 125 | -0.82% | 49 | 1.46% | 204 | 13.90% |
The table below show other Tennessee areas that are not ranked in the home price index report.
Unranked Metropolitan Statistical Areas | 1-Yr. | 5-Yr. |
| Morristown, TN | -1.35% | 31.87% |
| Cleveland, TN | -1.36% | 24.95% |
| Clarksville, TN-KY | 1.05% | 28.16% |
| Jackson, TN | 0.09% | 13.52% |
| Johnson City, TN | -0.04% | 28.57% |
(Estimates above use all-transactions HPI which includes purchase and refinance mortgages)
**Note: Rankings based on annual percentage change, for all MSAs containing at least 15,000 transactions over the last 10 years.
The graph below shows the last nine quarters for the Kingsport-Bristol, TN-VA MSA.
Data below is used for above graph.
| 1st Qtr 07 -1.67% | 4th Qtr 07 2.14% | 3rd Qtr 08 0.69% |
| 2nd Qtr 07 1.40% | 1st Qtr 08 0.62% | 4th Qtr 08 4.02% |
| 3rd Qtr 07 1.42% | 2nd Qtr 08 1.51% | 1st qtr 09 -2.99% |
++ 28700 Kingsport-Bristol-Bristol, TN-VA Metropolitan Statistical Area
Principal Cities: Kingsport, TN; Bristol, TN; Bristol, VA
Hawkins County, TN; Sullivan County, TN; Scott County, VA; Washington County, VA; Bristol city, VA