I hope you had a happy and safe Fourth of July holiday. The annual festival at World’s Fair Park didn’t disappoint – fireworks and the Knoxville Symphony Orchestra make a great team! We celebrate the signing of the Declaration of Independence on July 4, 1776, but did you know it was first read to the public in Philadelphia on July 8, 1776? July 8 also marks the anniversary of the final flight of the space shuttle program in 2011. There were 135 flights during the years of the program, which started in 1981. We Americans have so much to celebrate!
Unlike many holiday weeks, the first week of July was busy in our office. Even with one day off we recorded 423 loans and 302 property transfers.
Of the $84.8 million in loans, the largest was a loan obtained by Hardin Valley Land Partners from Progressive Savings Bank for $2.4 million – a refinance of property on Hardin Valley Road.
Some 302 property transfers totaling $87.9 million included a transfer of commercial property in South Knoxville on Mountain Grove Drive. Tim Graham purchased the lots from South Grove GP for $3.98 million. It’s great to see growth in all areas of our county!
Our fiscal year has just ended. In comparing this year to last, we were down slightly in property transfer values, from $3.86 billion in 2018 to $3.665 billion in 2019. Mortgages (loans) increased to $4.727 billion compared to 2018, which was $4.451 billion. Interestingly, the record high in mortgage lending was in 2007 at $5.374 billion. Due to new mortgage rules and regulations, it will be hard to reach a number that high again.
Nick McBride, Knox County Register of Deeds, provides a weekly transfer report for KnoxTNToday readers.