July 2019 was a big month for both real estate transfers and lending. There were a total of 1,326 property transfers totaling $380.36 million dollars with the largest of the month being the $33.56 million sale of the Knoxville Downtown Hilton. Compared to June, July showed a 5.46% increase in property sales.
Lending for July saw 297 more transactions than June. We ended July with a total of 1,854 loans equaling $442.4 million. The largest loan acquired in the month of July was a construction line of credit to Ball Homes from Central Bank and Trust for $30.73 million.
The upward trend in both lending and transfers continued last week. There were 322 property transfers and 440 loans registered. The total of all sales for the week was $79.68 million. The largest commercial sale last week ($2.87 million) was between Clover Realty LLC and HV Holdings LLC for the retail center including Arby’s, Great Clips and the Route 55 Diner on Hardin Valley Rd.
$99.02 million in loans were recorded last week. A $4.5 million construction loan between 105 KCMR LLC and First Advantage Bank was the largest of the week. The property to be improved is on Bearden Hill on the corner of Major Reynolds Place and Kingston Pike.
Recording deeds and loans is not all we do in the register’s office. We also record plat maps, power of attorney documents, corporate charters and subdivision restrictions. While we do have a subscription online-service (used mostly by businesses), our office also has computers that the public can use to access the documents at no charge. Feel free to come by anytime and someone in our records area will be happy to show you how to do a search.
Nick McBride is the register of deeds for Knox County.