It quoted Barry Hensley, past president of the Knoxville Area Association of Realtors, saying, "It's odd, because it will get red hot and then slow down a little, and then get a red hot again."
In a phone call a few weeks later, Hensley
offers a small disclaimer: He
never said red hot.
And the current downturn is unlike any other he's
seen in his
career, making predictions about recovery even trickier than usual.
Still, compared to a lot of parts of the country, he
says, things aren't that bad.
Prices have come down from their peak a few years ago, but not precipitously-partly because Knoxville was somewhat insulated from the bubble to begin with.
"We just never experienced that type of a market here," says Hensley, principal broker with Southland GMAC Real Estate.
And to the extent there was speculation and fall-off, he
says, it was at the top end, places like The Cove at Turkey Creek.
"If you get above $350,000, I think there is a lot of inventory in that upper bracket," Hensley