USA, TN: Nashville May See New Wave of Foreclosures

Nashville Tennessee Gay Real EstateJust as it appears that the worst of Middle Tennessee’s foreclosure crisis has passed, new research suggests that 2012 may usher in a second wave of foreclosures in the Nashville area.

In 2011, about 11 percent of home sales in the Nashville metro area were foreclosure-related, which is a 31 percent drop from 2010, according to a review of records from data firm RealtyTrac.

As regulators increased scrutiny of lenders’ hasty foreclosure procedures in recent years, banks have taken a longer time to repossess properties, according to RealtyTrac’s Daren Blomquist.

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