April 2023 Sevier County Real Estate Market Statistics

Average price saw a decrease to $653,686 from $698,263 in March.Average price has stayed between $641,572 to $753,033 this year. 

Time on market saw a bit of an increase to 73 days for homes that sold during April. Days on the market has been between 60 and 77 days on the market this year. 

Price per square foot saw a decrease to $358 per square foot. Price per square foot has been between $358 and $401 this year. 

 

 

LAND:

The average price for land/lots saw a decrease in price to $95,263 from March’s price at $161,225.

Lots that sold in April spent an average of 144 days on market, which is very similar to March 2022 where lots spent an average of 141 days on the market. 

 

2022 Awards

We are pleased to announce that we recently won several prestigious awards for production in 2022!

The awards include the Grand Centurion award, the #8 Century 21 Team in the World, and #1 in Century 21 Team in Tennessee.

“We take great pride in providing outstanding service to our clients, along with unique market insight and analysis.  In return, we get to meet some very successful and intelligent people, from whom we also learn a great deal. Working with the excellent human beings on our team is a great pleasure. Sometimes it doesn’t even feel like work.  We are very lucky to have found this career and each other.”

– Jason White

Winning these awards is a significant accomplishment and a testament to our ongoing commitment to providing exceptional service to our clients!

Short Term Rental Property Tax Increases in Sevier County, Tennessee

If you own a short-term rental property in Sevier County, Tennessee, you should be aware of a recent decision by the county board of commissioners that will increase the property tax rate on these rentals. The decision affirms a 2021 state law that changes the property tax assessment rate for all short-term rentals from a 25% residential classification to a 40% commercial classification. 

 

This will impact over 10,000 short-term rental properties in Sevier County, including those listed on platforms like Airbnb and Vrbo.

 

The county spokesperson has confirmed that this decision affirms a state law that went into effect in 2021 and subsequent guidance from the state Comptroller’s office. The law stipulates that properties used as short-term rentals are classified as commercial properties unless certain exemptions are met. Essentially, properties with a business license that are a short-term rental and not the owner’s principal residence will be subject to the change in classification.

 

Out of approximately 13,000 identified overnight rentals in Sevier County, 2,500 were already being assessed at the 40% rate prior to the resolution. A rental cabin with an appraised value of $500,000 would go from paying $1,850 in annual property county tax to $2,960. The increase is approximately $222 per $100,000 of appraised value on short-term rentals. This increase will generate an estimated $8 million of new revenue for the county.

 

With a county property tax rate of $1.48 per $100 of assessed value, Sevier County maintains one of the lowest property tax rates in Tennessee. 

 

Despite this increase in property tax for short-term rentals, on average, short-term rentals across Sevier County are undervalued by over 53% since the last reappraisal in 2021, according to Sevier County Director of Public Affairs Tyler Basler.

 

The changes will be reflected on tax bills scheduled to go out in October 2023. The image below is the assessment change notice you should receive, If you own a short-term rental in Sevier County, Tennessee.

 

It is important to be aware of these changes and budget accordingly to avoid any unexpected costs.

This information was provided by WATE. You can read the news article here.

Interested to learn more about Sevier County and the surrounding areas property tax rates, click here to do so!




The Lifespan of Appliances for Rental Properties: What to Expect and How to Plan Ahead

As a short-term rental property owner, it’s essential to understand the lifespan of the rental property appliances.

 

 Knowing how long these items typically last can help you plan for repairs and replacements, ensuring your guests have a comfortable and safe stay. In this blog, we’ll provide an overview of the major appliances found in short-term rentals, their typical lifespan, factors that can affect their lifespan, and signs that you may need to begin buying appliances for your rental property. 

 

HVAC System

The HVAC system is responsible for heating, ventilation, and air conditioning in your rental property. HVAC systems can last anywhere from 10 to 25 years, depending on factors such as proper maintenance, frequency of use, and the type of system. Signs that your HVAC system may need repair or replacement include unusual sounds, strange smells, and inconsistent temperatures throughout the rental.

 

  • Lifespan: 10-25 years 
  • Factors that affect lifespan: maintenance, frequency of use, and type of system
  • Signs you may need to replace the HVAC for your rental property: strange smells and inconsistent temperatures 

 

Water Heater

The water heater provides hot water to your guests for their daily needs, such as showering and washing dishes. The typical lifespan of a water heater is 8 to 12 years, although proper maintenance can extend its life. Signs that your water heater may need repair or replacement include a lack of hot water, unusual sounds, and water leaks.

 

  • Lifespan: 8 – 12 years 
  • Factors that affect lifespan: maintenance 
  • Signs you may need to replace the water heater  for your rental property: leaks or lack of hot water 

 

Refrigerator 

The typical lifespan of a refrigerator is 10 to 18 years. Many things can impact the lifespan of your refrigerator, such as quality of the appliance, frequency of use, maintenance, and power surges. Signs that your refrigerator may need repair or replacement include unusual sounds, difficulty starting, and inconsistent temperature or water flow.

 

  • Lifespan: 10-18 years 
  • Factors that affect lifespan: quality of appliance, frequency of use, maintenance 
  • Signs you may need to replace the water heater  for your rental property: unusual sounds, difficulty starting, and inconsistent temperatures or water flows. 

 

Stove 

 

The typical lifespan of a stove can vary depending on the type of stove, the frequency of use, and how well it is maintained. However, on average, a gas or electric stove can last anywhere from 10-15 years with proper maintenance and care.

 

If your stove is not heating properly, doesn’t light well, you notice rust or corrosion or worn out parts – these may all be signs you may need to begin thinking about buying a new stove for your investment property.

 

  • Lifespan: 10 – 15 years 
  • Factors that affect lifespan: frequency of use and how well its maintained 
  • Signs you may need to replace the water heater  for your rental property: uneven heating, difficulty lighting, rust, broken or worn out parts. 

 

Dishwasher

 

The lifespan of a dishwasher can vary depending on the type, brand, and model of the appliance, as well as how well it is maintained. On average, a dishwasher can last anywhere from 7 to 12 years with proper care and maintenance. Signs that you may need to replace your dishwasher are leaks, strange noises, and poor cleaning performance. 

 

  • Lifespan: 7 to 12 years 
  • Factors that affect lifespan: care and maintenance 
  • Signs you may need to replace the water heater  for your rental property: leaks, noise, and poor cleaning performance 

 

Washer and Dryer

Providing a washer and dryer for your guests is a convenient amenity that can help increase bookings. The typical lifespan of a washer and dryer is 10 to 14 years, but proper maintenance can extend their life. Signs that your washer and dryer may need repair or replacement include unusual sounds, a lack of function, and leaks.

  • Lifespan: 10 to 14 years 
  • Factors that affect lifespan: property maintenance 
  • Signs you may need to replace the water heater  for your rental property: lack of function and leaks 

 

Other Systems and Appliances

Other systems and appliances found in short-term rentals, such as smoke detectors and air purifiers, can vary in lifespan. Smoke detectors should be replaced every ten years, while air purifiers can last up to five years. Proper maintenance and regular testing can help ensure these items are functioning correctly.

 

Understanding the lifespan of the various systems and appliances in your short-term rental property is crucial for maintaining the comfort and safety of your guests. 

Regular maintenance and replacement of these items can help prevent unexpected breakdowns and keep your rental property in top condition, renting consistently with no unexpected downtime.

 We recommend consulting with professionals for maintenance and repairs to ensure the longevity of your property’s systems and appliances. Read more about how to keep your investment property in tip top shape here! 

March 2023 Sevier County, TN Real Estate Statistics

Average price saw an increase to $698,263, down from $713,446 in March of 2022.

  • February 2023 – $641,572
  • January 2023 – $735,033
  • December 2022 – $829,234

Properties spent an average of 60 days on the market, down from 70 in March of 2022.

  • February 2023 – 77
  • January 2023 – 68

Price per square foot saw another slight increase to $401 per square foot, which is higher this year, than in March of 2022 where it sat at $390.

  • February 2023 – $395
  • January 2023 – $373
  • December 2022 – $369

 

Sevier County Market Statistics for Land

The average price for land/lots saw an increase to $161,225, up from $118.394 in February, and 56% higher than last March’s average price, which was $103,213.

The average days on market saw a decrease to 175, up on 4% to last March at 168 days on the market.

Annual Police Department Reports: Sevierville & Pigeon Forge

 

If you’re considering investing in a short term rental property in these areas, you may be wondering about the safety and security of the neighborhoods and the involvement of the police force inside the communities. 

Fortunately, both the CIty of Sevierville and the City of Pigeon Forge release an Annual Report which give us details about crime trends, community involvement, organizational charts, expenditure, and other updates.

 

Below are crime statistics for 2022 and beyond for both the City of Pigeon Forge and the City of Sevierville 

 

Pigeon Forge 

City of Sevierville

 

Police community engagement is a proactive approach to policing that emphasizes collaboration and partnership-building between law enforcement officers and the communities they serve. This can help to improve communication and reduce crime 

Here’s what both departments had to say about community involvement. 

 

Pigeon Forge

“In 2022 we continued to maintain a slim but healthy community outreach. We participated in just under 50 events. It was important to us that our community see us as active and willing to engage. We used every opportunity to meet new people, strengthen existing relationships, educate the public on safety and listen to our community members.”

 

City of Sevierville

“The Community Resource Unit is composed of one Lieutenant, one Sergeant, one bomb detection K9 team, two officers, and six reserve officers. There was a vacant officer position which was filled in December. This unit is responsible for special events, problem areas, senior housing complexes, government housing complexes, public education, as well as all safety and prevention programs.

 

City of Sevierville Special Event Hours:

Special Event Hours 2,185
Security Detail Hours 440
Meeting Hours 101.5
School Resource Hours 204
Patrol Hours 192
Training Probationary Officer Hours 88
Number of Government Housing Background Checks 288

 

You can read the City of Sevierville Police Department Annual Report here.

You can read the City of Pigeon Forge  Police Department Annual Report here. 

 

3 Common Pests Found in East Tennessee Short Term Rentals and How to Prevent Them

One bad review mentioning bugs can undo weeks of five-star stays. For short-term rental owners in East Tennessee, pest prevention is not a seasonal task or something to hand off and forget. It is an active part of protecting your property, your ratings, and the guest experience you have worked hard to build.

The Smoky Mountain climate, warm, humid, and surrounded by dense forest, creates ideal conditions for certain pests to move into your cabin and make themselves at home. The good news is that the three pests we see most often in East Tennessee rentals are entirely manageable with the right knowledge and a consistent prevention routine. Here is what to know about each one.

 

The 3 Pests Most Likely to Damage Your Smoky Mountain Rental

 

1. Carpenter Bees

Carpenter bees are one of the most common pest problems we see on East Tennessee cabins, especially properties with exposed wood decks, railings, eaves, and outdoor furniture. They look nearly identical to bumblebees, with one key difference: carpenter bees have a shiny, hairless abdomen, while bumblebees are fuzzy all over.

The damage they cause is structural. Carpenter bees drill perfectly round, dime-sized holes into untreated or unpainted wood to lay their eggs. Over time, repeated nesting in the same location weakens the wood and can attract woodpeckers, who hear the larvae inside and excavate even larger holes looking for a meal.

Warning sign to watch for: Small, clean circular holes in wooden surfaces, often accompanied by sawdust or yellow staining below the entry point.

Prevention: Paint or seal all exposed wood surfaces. Carpenter bees strongly prefer untreated wood. Replacing damaged sections and applying a fresh coat of paint or sealant removes most of the appeal.

 

2. Carpenter Ants

Carpenter ants are large, black ants that do not eat wood but tunnel through it to build their nests. They are drawn to wood that is already moist or decaying, which makes cabins in the Smokies particularly vulnerable given the rainfall and humidity levels in the region.

Left unchecked, carpenter ant colonies can cause serious structural damage to walls, floors, and wooden beams.

Unlike termites, they move slowly enough that early detection gives you real options before the damage becomes expensive.

Warning sign to watch for: Fine, sawdust-like material (called frass) near baseboards, windowsills, or along wall edges. You may also hear faint rustling inside walls.

Prevention: Address any moisture issues in your crawlspace, basement, or around windows. Fix leaky pipes and ensure proper ventilation. Remove any wood debris or firewood stored directly against the structure.

 

3. Eastern Subterranean Termites

Eastern subterranean termites are the most destructive pest on this list and the most common termite species in Tennessee. They live underground in large colonies and travel up through the soil to feed on the wood in your structure. Because they work from the inside out, an infestation can cause significant damage before any visible signs appear on the surface.

The financial stakes are real. Subterranean termite damage costs homeowners billions of dollars annually across the country, and Tennessee’s climate makes our region particularly active for termite pressure.

Warning sign to watch for: Mud tubes running along your foundation, pier blocks, or crawlspace walls. These pencil-thin tubes are how termites travel from soil to wood while staying protected. Also watch for wood that sounds hollow when tapped.

Prevention: Maintain proper drainage away from your foundation, eliminate any wood-to-soil contact around the structure, and schedule annual inspections. Once termites establish, professional treatment is not optional.

 

Practical Prevention Steps for STR Owners

Many of the best pest prevention practices are already part of good property maintenance. If you have a regular inspection routine in place, you are ahead of most.

Here are the specific steps that make the biggest difference for cabins in the Smokies:

  • Seal entry points. Inspect the exterior for gaps around pipes, utility penetrations, window frames, and door thresholds. Caulk or weatherstrip any opening large enough to let pests in.
  • Install and maintain screens. Check window and door screens for tears or gaps at the start of every season and after any storm.
  • Keep wood off the ground. Firewood stored against the cabin foundation is an invitation for carpenter ants and termites. Store it elevated and at least 20 feet from the structure.
  • Control moisture. Fix any plumbing drips, ensure gutters direct water away from the foundation, and verify that crawlspaces have adequate ventilation. Moisture is the common thread behind most pest infestations in mountain cabins.
  • Treat all exposed wood. Paint, stain, or seal any unpainted exterior wood, including the undersides of decks and porch overhangs where carpenter bees often nest.
  • Walk the property between guest stays. A quick exterior walkthrough during turnovers is often enough to catch early signs before they become a problem. If your property manager handles turnover, ask them to flag anything unusual.

 

When to Call a Professional Pest Control Company

Prevention goes a long way, but certain pests, particularly subterranean termites and established carpenter ant colonies, require professional treatment to eliminate effectively. A licensed pest control company will identify the specific pest and infestation level, develop a targeted treatment plan rather than a one-size-fits-all spray, set up monitoring stations to catch future activity early, and schedule follow-up treatments to make sure the problem does not return.

We recommend scheduling a professional inspection at least once a year for any Smoky Mountain rental, regardless of whether you have seen active signs. In a region with year-round pest pressure, a proactive inspection is significantly less expensive than treating an established infestation or repairing the structural damage one causes.

When selecting a pest control company, look for one licensed in Tennessee with experience treating mountain properties. The terrain and construction styles in the Smokies are different from suburban homes, and that local experience matters.

 

Protect Your Investment Before the Pests Find It

Keeping a Smoky Mountain cabin in great shape for guests takes consistent attention, and pest prevention is one piece of that larger picture. The properties that hold their value, earn repeat bookings, and avoid costly surprise repairs are the ones where owners stay proactive rather than reactive.

If you want a broader framework for maintaining your rental throughout the year, our guide to keeping your short-term rental property in great condition covers inspections, cleaning, and maintenance planning from a property owner’s perspective.

And if you are thinking about buying a short-term rental in the Smokies, or evaluating whether your current property is set up for strong long-term performance, we would love to have that conversation.

 

Property Owners: How to Keep Your Short-Term Rental Property in Great Condition

Owning a short-term rental property can be a great investment, but it comes with its own set of challenges.

One of the most important aspects of owning a short-term rental property is maintaining it properly.

A well-maintained property can provide a positive experience for guests and increase the property’s value. 

In this blog post, we will discuss some tips for keeping your short-term rental property in tip-top shape!

 

Maintenance

Creating a maintenance plan is an essential step in keeping your short-term rental property in great condition.

As a short-term rental property owner, it is essential to regularly inspect your property to ensure that it is in good condition for guests. By addressing issues promptly, you can minimize the impact they have on your guests and prevent them from becoming larger, more expensive problems. Here is a list of inspections that you should complete on your short-term rental property:

 

  1. Electrical system inspection: The electrical system should be inspected at least once a year to ensure that it is in good working order. This inspection should include checking outlets, light fixtures, and the circuit breaker box.
  2. HVAC system inspection: The HVAC system, including air conditioners and heaters, should be inspected and serviced at least twice a year to ensure that they are working efficiently .
  3. Roof inspection: The roof should be inspected at least once a year to ensure that there are no leaks or other issues that could cause damage to the property.
  4. Exterior inspection: The exterior of the property should be inspected regularly to ensure that there are no issues such as cracks, leaks, or other damage.
  5. Interior inspection: The interior of the property should be inspected regularly to ensure that there are no issues such as leaks, cracks, or other damage. This inspection should include checking for water damage, mold, and pest infestations.
  6. Smoke detector and carbon monoxide detector inspection: Smoke detectors and carbon monoxide detectors should be inspected at least twice a year to ensure that they are in good working order.
  7. Fire extinguisher inspection: Fire extinguishers should be inspected at least once a year to ensure that they are in good working order.

If you are an out of state owner your property management company will likely help you complete any inspections necessary to maintain the integrity of your home.  

 

Cleaning

Cleaning is an essential part of maintaining a short-term rental property. A clean property can make guests feel comfortable and help them enjoy their stay!

Regular cleaning between guests is essential to maintain a short-term rental property’s condition and ensure that it is safe and hygienic for guests. It is also important to clean and sanitize high-touch areas such as door handles, light switches, and remote controls.

Deep cleaning should also be done regularly to prevent future issues and maintain the property’s overall condition. 

 

Repairs 

It is important to address any repairs or maintenance issues promptly to prevent them from turning into larger problems. Be sure to keep a list of reliable contractors on hand for any necessary repairs that require a professional.

  1. Plumbing issues: Plumbing issues such as clogged drains, leaking pipes, and broken toilets are common in rental properties. These issues should be addressed as soon as possible to prevent further damage to the property.
  2. Electrical issues: Electrical issues such as faulty outlets, broken light fixtures, and malfunctioning appliances can be dangerous if left unaddressed. These issues should be fixed as soon as possible to ensure guest safety. HVAC system issues:
  3. HVAC systems such as air conditioners and heaters may need repairs if they are not functioning properly. Appliance repairs: Appliances such as refrigerators, ovens, and dishwashers may need repairs from time to time. These repairs should be addressed promptly to prevent further damage to the appliance and ensure guest satisfaction.
  4. Roof repairs: Roof leaks and other roofing issues can be expensive to repair if left unaddressed.
  5. Flooring repairs: Flooring issues such as torn carpeting or cracked tiles can make the property appear unkempt and may be a safety hazard. These issues should be addressed as soon as possible to ensure guest safety and maintain the property’s appearance.
  6. Painting and drywall repairs: Paint chips and drywall damage can make the property look shabby and worn. These repairs should be addressed as soon as possible to maintain the property’s appearance.

 

Landscaping

Maintaining the outdoor space of a short-term rental property is just as important as the inside. A well-maintained outdoor area can create a positive first impression for guests. 

Keep the lawn trimmed, bushes trimmed, and remove any debris or garbage. 

Regularly check outdoor lighting to ensure that the space is well-lit and safe for guests.

 

Maintaining a short-term rental property is essential for both the guest’s experience and the property’s value. By creating a maintenance plan, cleaning regularly, addressing repairs and maintenance issues promptly, and maintaining the outdoor space you can keep your property in great condition.



February 2023 Sevier County Real Estate Market Statistics

Homes

We saw another large drop in average price to $641,572, down $735,033 in Janaury 2023 and $829,234 in December 2022.

Properties spent an average of 77 days on the market, a slight increase from 68 days on the market in January 2023.

Price per square foot saw another slight increase to $395 per square foot in February 2023, up from $373 in January 2023 and $369 in December 2022.

The average price for land/lots saw an decrease to $118.394, a

 

Land

The average price for land/lots saw an decrease to $118.394, a decrease from $158,542 in January 2023, but higher than the average price in December 2022 at $102,244. The average days on market saw a large increase to 292 days.

 

 

What You Need to Know: Tree Removal and Liability

Tree Removal and Liabilities - What you need to know

Trees are an important part of our natural environment, but must be properly maintained or they can pose a risk to nearby buildings and properties.

In this blog post, we will answer some of the most common questions people have about tree removal and liability for damage to neighboring properties.

 

Who is responsible for tree removal cost?

The responsibility for the cost of removing a tree depends on a number of factors, including 

  • the reason for the removal 
  •  the location of the tree.

If the tree is on private property and needs to be removed for reasons of safety or health, the property owner is generally responsible for the cost of removal. If the tree is located on public property, such as a sidewalk or park, the cost of removal may be the responsibility of the municipality or other public agency.

 

I’m not sure a tree is mine, how can I find out?

The University of Tennessee Extension Institute of Agriculture published an article on Tree Owner’s Rights and Responsibilities. You can view it here.

 

What steps should I take to prevent tree-related damage to my neighbor’s property?

To prevent tree-related damage to your neighbor’s property, you should regularly inspect your trees for signs of disease or damage, and have any necessary maintenance or pruning done by a qualified professional. You should also be aware of any potential risks posed by your trees, such as overhanging branches or weak roots, and take steps to mitigate those risks.

 

Can my neighbor make me remove my tree if it is causing damage to their property?

If a tree on your property is causing damage to your neighbor’s property, your neighbor may ask you to remove the tree. In some cases, your neighbor may be able to take legal action to compel you to remove the tree if it is posing a significant risk or if it is causing significant damage to their property.

 

What types of damage can a tree cause to neighboring properties?

Trees can cause a range of damage to neighboring properties, including damage to buildings, fences, and other structures, as well as damage to landscaping, vehicles, and other property.

 In extreme cases, falling trees can also cause injury or death.

 

What happens if a tree falls on my neighbor’s property and causes damage?

If a tree on your property falls and causes damage to your neighbor’s property, you may be held liable for the cost of the damage. 

Liability will depend on a number of factors, including the cause of the tree’s fall and whether or not you knew or should have known that the tree was at risk of falling.

 

Can my neighbor sue me if my tree damages their property?

Yes, your neighbor may be able to sue you if your tree damages their property. 

However, liability will depend on a number of factors, including the cause of the tree’s fall and whether or not you knew or should have known that the tree was at risk of falling. 

If the tree fell due to natural causes, such as a storm or other act of nature, you may not be held liable. 

However, if the tree fell because it was diseased, damaged, or otherwise unstable, and you knew or should have known about the risk, you may be held liable for the cost of the damage. 

It’s important to note that liability for tree-related damage can be a complex issue, and may depend on local laws and regulations, as well as the specific circumstances of each case. 

If you are facing a legal dispute related to tree-related damage, it’s recommended to consult with a qualified legal expert.

 

Is it necessary to obtain permission from my neighbor before removing a tree?

In most cases, you do not need to obtain permission from your neighbor before removing a tree on your property. However, it is a good idea to inform your neighbor of your plans and discuss any potential concerns they may have.

 

What are the legal requirements for tree removal in my area?

The legal requirements for tree removal vary depending on the location and the specific circumstances. In general, it is a good idea to check with your local municipality or other relevant authorities to find out what the legal requirements are in your area.

To find out more information about the specific regulations in your area, we recommend contacting your local municipality. Here are some contact details for local municipalities:

Sevier County

Sevierville 

Gatlinburg 

Pigeon Forge

If I own a home in Sevier County, who can help me with tree removal?

The city of Gatlinburg provided a list of tree trimming and removal experts, you can find it here.

As a property owner, it’s important to take steps to maintain and manage your trees to prevent damage to neighboring properties and minimize liability for tree-related accidents. 

Regular inspection and maintenance by qualified professionals can help identify and address potential risks posed by your trees, and communication with your neighbors can help avoid disputes and legal action. If you are facing a legal dispute related to tree-related damage, it’s recommended to seek legal advice to better understand your rights and responsibilities. 

By being proactive and responsible, you can enjoy the benefits of trees on your property while minimizing the risks and liabilities they may pose.

 

*It’s important to note that the information provided in this blog post is for general informational purposes only and should not be construed as legal advice. While we have made every effort to provide accurate and up-to-date information, we cannot guarantee the accuracy or completeness of the information provided.