For the first time since the recession devastated the housing market, a major subdivision is coming to Maryville.
Valley View Farms, a 99 lot development, is a good sign that our economy is improving, according to Maryville's Mayor Tom Taylor.
A look the most recent building permit trends shows new homes are on the rise for the area.
In Blount County, there is a 43% increase in permits from this time last year.
The year 2007 is the last time a similar size development, Holland Springs, was built inside the city limits. Morganton Reserve was built in 2011 outside the city limits.
"As much as I'm excited about a new subdivision, I'm also excited about the fact that this may be one of the leading indicators that the economy is starting to recover in this area," said Mayor Taylor.
Josh Sanderson, a realtor and spokesperson for the developer Smithbuilt Homes, said the Knoxville-based company believes Maryville has a demand for new homes.
"We've done a test case with a few other communities in Maryville. We have five lots in Brantly Park that we immediately built on and they sold as fast as we could get the roof on," Sanderson said.
Smithbuilt Homes said the top rated school system, nearby parks, and city government played a role in their decision.
Mayor Taylor agrees the efforts on the city's part played a role in the increase in building.
Smithbuilt Homes will add 62 homes in the first phase. The company designs, builds, and sells the homes.
Valley View Farms is going on property previously foreclosed on by another developer during the recession.
Smithbuilt Homes bought the property from the bank.