To say the economic atmosphere of 2009 was unfavorable would be an understatement.  Thankfully, the New Year is ushering in brighter times.  According to several real estate experts, national reports and the general air of optimism surrounding buyers and sellers, it appears the worst is finally behind us.

The real estate market in Nashville is expected to see a substantial rise in sales during 2010, mainly fueled by the government’s expansion of the first time home buyer’s tax credit, all-time low mortgage rates and the federal boost to the home loan lending industry.  Developers have been forced to lower prices, luxury homes are leaving the market for less and the time has never been better for purchasing residential real estate in Nashville.

According to the Nashville Business Journal, office space leasing is set to increase and the commercial real estate market foresees improvement, as well. Unlike other areas of the nation, Nashville boasts industry diversity, which has staved off some of the worst economic downturns.  Compared to other regions of the Southeast, ones that do not offer industry variation, Nashville is expected to see an increase in consumer spending and home sales sooner.

Although the number of home sales is set to increase in 2010, and according to the Nashville Business Journal, home prices are likely to rise somewhat as a result, nearly 10% of residents are still upside-down on their mortgages. There is a wealth of government-backed aid to help these individuals, and for those seeking a home, until a better balance is achieved, it is still a buyer’s market.

With hope at their heels, real estate companies, developers and sellers are now seeing the light at the end of the tunnel. When consumers take advantage of tax credit options, low refinancing rates, low mortgage rates and lending assistance in order to purchase real estate, it benefits both parties and pushes Nashville’s economy one step closer to recovery.

The Department of Veterans Affairs is moving a large operation to Murfreesboro that could potentially employ approximately 300 people.

If there is one characteristic that Murfreesboro does not possess, it is the tendency to quit if the face of a challenge. Hit just as hard as its Middle Tennessee neighbors by the economic plague of the past few years, Murfreesboro is turning inward to put itself back on the map.

According to the The Murfreesboro Post, several local enterprises and investors are playing their part in bringing their once-burgeoning Tennessee town back to its feet. The new Tennessee Medical Center is under way and hopes to provide approximately 200 jobs in the area, while the Chamber of Commerce is set to break ground on the Rutherford County Visitors’ Center and new Chamber offices alongside the same thoroughfare.

Local and commercial investors, such as Swanson Realty and Construction, are making plans for multi-developments in the Gateway District that will house shops, restaurants, condominiums, banks, medical offices and more.

Nissan North America is stepping up and expanding their Murfreesboro plant by over 1 million square feet, and they hope to create an additional 1,700 jobs within their facility. Murfreesboro’s youth has something to look forward to with the development of a Boys & Girls Club and Teen Center in 2010. An investment of over 4 million dollars, as well as opportunities for employment will result.

Part-time census workers are strolling the streets, thanks to federal funding, and the Department of Veterans Affairs is moving a large operation to Murfreesboro that could potentially employ approximately 300 people.

Two new schools are opening—construction staff, teachers and support staff all to be employed—and the Publix and Kroger chains are still standing strong while keeping over 200 hourly employees in work, in addition to truck drivers and management groups.

Substantial efforts through real estate development, investment, growth and expanded employment are sure to straighten out Rutherford County’s economic hunch. Even if progress comes slowly in 2010, the community’s proven determination and forward thinking will certainly provide it with the motivation needed to succeed.