Action! Action! We've Got Action!
New Homes! New Construction! Lot Sales! Ground Breakings!
Regardless of how you feel about today’s age of big data it can tell you a lot about a community.
And one of the most powerful uses of all that data is psychographic segmentation.
Simply put psychographic segmentation is all about dividing a market based on consumer personality traits, values, attitudes, interests and lifestyles. It’s powerful information because it allows precise identification of a target audiences’ wants and needs.
Kingsport’s Development Services Director used some of that segmentation monitoring during a recent Board of Mayor and Alderman’s meeting where city leaders were considering updates to strategic growth plans. The data work was provided by – Braxton, a Texas-based analytics company.
Tully told the city leaders that there was a concentration of two segments of people moving to Kingsport. They are, “Power Elite/Flourishing Families and Families in Motion.”
Power Elites are defined as families with dual wage earners who bring home $250,000 a year or more.
Flourishing Families are middle-age families who make a six-figure income.
That’s benchmarked by the fact that Kingsport’s current median family income is slightly above $50,000.
Old Island Lifestyles Community is attracting quite a bit of attention from folks in those segments and a group that isn’t in the top two. The third group is pre-retirees looking for a home where the next stage of their lives will happen.
There are several reasons for the added attention.
– The economy finally has a firm foothold on recovery. That has boosted consumer confidence.
– The housing market is gaining momentum in communities that saw new home inventories contract during the recession and into the early days of the recovery. Cities – like Kingsport – which is known as a custom-built market felt that squeeze when credit availability for spec homes was difficult to get. Kingsport officials have focused on high-end housing and worked with developers to boost inventory to meet increasing demand.
- Due to big advances in building materials and technologies the demand for new homes is growing. New homes are much more energy efficient, better built and will have a higher re-sale value than homes built before the recession. This has added substantial weight in the decision of buying a new home because the economics affords more attention to lifestyle considerations. But new home demand hasn’t grown so fast to push construction and material costs out of perspective with the recovery.
- New homes are popular with pre-retirees who attracted by the region’s retiree-friendly tax structure, recreation availability, accommodating lifestyle and central location because they value a home where maintenance costs are low and they don’t have to worry about replacing a heating or cooling system, or a roof – things that take big bites out of their travel and recreation plans. This is significant factor in Kingsport because more than half of the existing home inventory is 20 years old or older.
- The icing on the cake is the option to customize the open floor plans popular with builders of new homes – especially those at Old Island.
One of the best indicators of the attention that Old Island is getting can be seen by:
- Two Patterson homes nearing completion.
- Two Cresent homes under construction.
- Ground has been broken on three pre-sold homes.
- Lot sales are picking up in the newest addition to Old Island’s community – The Cottages.
With affordable pricing, The Cottages are perfect for newer families. And combined with the custom homes in Treetop Estates, the distinct patio homes
in Crocket Landing and upscale homes in The Islands, The Cottages round out the Old Island experience where value and quality are the hallmarks of the homes and the community’s lifestyle.
Is it Spring at Old Island? It's Blooming!!!!
According to the calendar and unmistakable signs of the seasons it’s fall in Northeast Tennessee. But things are budding just like it’s spring at Old Island Lifestyle Community.
The economy is getting stronger; the stock market is up and there’s pent up demand for new homes – especially those that are a demonstrable cut above the normal for value and lifestyle.
Currently two spec homes are going up and several more in the foundation stages of being ready for the prime buying season next year - if they last that long. That pent up demand was evident at Old Island even before the economic rebound took hold. New Old Island homes don’t stay on the market long, and lot sales are increasing. That means additional custom homes are not far behind, and the community’s build out is not too far away.
There are ample reasons for all of this activity at Old Island.
- It has and continues to be cited by credible authorities as one of the top retirement destination in Tennessee. Those mentions are earned by opportunities for upscale living among the community’s treetops to pastoral golf course and mountain vistas and affordable pricing in the Cottages development - while they’re still available.
- Its proximity to the Pinnacle - region’s new 500-acre destination retail and entertainment development, world-class scenic venues, outdoor options that include blue-ribbon trout fishing, sports venues like the Bristol Motor Speedway and unique regional cultural opportunities that range from the Birthplace of Country Music and Barter Theater – one of the longest running professional theaters in the nation – to the Carter Family Fold.
- Kingsport was recognized this year among the “Cities on the Rise” in Tennessee based on its economic fundamentals. It’s one of the three Tri-Cities’ municipal gems at the core of a dynamic region with multiple communities growing in their own unique style.
Old Island promotes itself as "an ideal place to enjoy the peace and serenity of golf course living while staking your claim to living the mountain south. Those vistas are as close as every window of an Old Island home. Golf is prominent because Old Island adjoins the highly rated Crocket Ridge Golf Course. And the Tri-Cities is a rich links environment. Golf Magazine ranked the area No. 2 among 330 Metropolitan Statistical Areas with a population of more than 50,000 for access (the number of courses) and green fees value. It’s also noteworthy that many of the area’s public and private courses have high ratings from golf publications.
What’s happening at Old Island is a big story – one where upscale living and value are touchstones for those seeking a place for their life to happen. It’s big enough that you have to see it to appreciate the experience and potential. Contact one of our professionals for your personal tour or for answers to questions.
Watch this space in the coming weeks for additional information and insights on the Big Picture evolving at Kingsport Premier Lifestyle community and one of Tennessee’s top destinations.
New Homes! New Homes! New Homes!
2 Patterson Homes under construction!
2 Cresent Homes wrapping up the foundations!
3 Pre-Sold homes Broke Ground!!!
Will you be Next? Come Live with Us! Your Gonna Love the View!