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2010 has been a year of relative stability. Let’s look back at some of the neighborhoods and see what has happened since 9/16/2008, the date of the financial crisis. One of the most interesting subdivisions in Cherokee County is Bridgemill. It sits at the west end of Sixes Road in south-central Cherokee. It includes approximately 3,000 homes with values ranging from $120,000 to over $1,000,000.

One good way to look at the history of the neighborhood is to track the median sale price of its homes. The median is, of course, the middle sale in a list of sales from lowest to highest.

In 2006 the median sale price in Bridgemill was $330,000. By 2009 it had dropped to $230,000. Just last quarter, the median was $270,000. It has steadily climbed since the beginning of 2010. A fabulous recovery in this economy.  In truth, it over-corrected and then recovered back to where it should have been all along.  One lesson in this is that money can still be made in this market if you can identify markets that have over-corrected and buy before it comes back.  Next time we will look at some realy big corrections in the Atlanta market.