Nashville Property Talk: Historic Neighborhoods

    In today’s advanced age of technology and rapid movement, things change very quickly. As new developments take place, our lifestyles change and so does how we spend our time. This also influences where we live, what kind of home we want, and how we want that space to look and feel. 

    Yet, in every major US city there is at least one designated area considered a historic district and it is usually wildly appealing for both visitors and residents. Why is this? Why would we care so much about outdated homes and buildings that no longer reflect our current lifestyle? 

    Turns out, these historic areas tend to be good for many reasons, including real estate value. Here’s a closer look at historic neighborhoods.

    What is a historic nieghborhood? 

    A historic district is usually a section of town with multiple older buildings that have some significanct historical importance related to architecture, culture, character, design, or a particular event in history. A historic neighborhood contains mutiple homes that meet that criteria for historic preservation, and may also contain other buildings that are architecturally or historically important to the area. This movement began postwar, when communities were trying to determine how to grow while residents were also considering how their cities fit into the bigger picture of things. 

    For example, the photo above is of Charleston’s Rainbow Row, which are 13 historic homes in Charleston that have been presereved due to their representation of early life in the city. The unique history of these homes is also a great attraction for tourists.

    Why historic neighborhoods matter

     

    Historic districts have a particular character that people wish to preserve for future generations. By preserving these areas, cities are empowered and can celebrate their history as well as sustain new development. Historic districts tend to draw tourists, which makes for increased revenue to local businesses while maintaining popular landmarks. 

    Historic neighborhoods tend to appeal to both renters and homebuyers who are looking for opportunities to live in buildings with special characteristics not easily found in newer construction. An ambiance comes from these neighborhoods that can not be recreated and well-preserved historical neighborhoods represent a quality of home that homebuyers desire. 

    Benefits of historic neighborhoods

     

    Aside from the initial benefit of preserving history, historic neighborhoods also tend to have stable real estate markets and protected property values. Once an area has been designated historic, it becomes a physical marker of an area that has committed to maintaining particular appearances and integrity. Homeowners are under strict guidelines about how their homes can look, what paint colors are allowed, etc. Since those standards apply to all who are in the district, that means each homeowner is confident that they are surrounded by more of the same. 

    Additionally, historic neighborhoods are often located in downtown areas of cities, which makes them highly desirable. In the past decade or so, downtown areas have seen a huge resurgance of popularity and increased interest in homebuyers. These areas are also bringing in new businesses and developers who wish to blend in with the historic neighborhoods without disrupting its nature.

    Blending new developement with historic neighborhoods

    Naturally, not all buildings can be preserved. Sometimes a building must be torn down and rebuilt from scratch. And sometimes older homes simply aren’t functional for modern life. Increasingly, the trend is to remodel an older home to maintain as much of its historic character as possible while introducing newer elements that work for today’s lifestyle. 

    New developments are under strict regulations to meet the standards set by a historic district or neighborhood. The new buildings cannot disprupt the overall character of the district. Since more and more homebuyers want to live in communty-based urban areas, these blended neighborhoods are taking off rapidly. 

    Another popular trend is for new construction in urban neighborhoods that are not historic to closely resemble older homes, but with newer LEED certified materials and conveniences. These neighborhoods are also quite appealing to new homeowners as they provide much of the same feel of an older home without the hefty regulations and price tag. 

    Are you in the market for a Nashvilel home in a historic neighborhood? Call us today and we can show you what’s currently available! 

    Want to know which neighborhoods in Nashvilel have a blend of both old and new? Browse the current Nashville MLS listings here and let us know what you’d like to see! 

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