2 The NAIL l September, 2022
Connie Nicley Hannah Garrard
Phone: (615) 377-1055.
SUBMISSIONS: THE NAIL welcomes manuscripts and photos related to the Middle Tennessee housing industry for publication. Editor reserves the right to edit due to content and space limitations.
NAILTHE
POSTMASTER: Please send address changes to: HBAMT, 9007 Overlook Boulevard, Brentwood, TN 37027.
Editor and Designer Jim Argo Staff
4 The NAIL l September, 2022
The official magazine of Home Builders Association of MiddlePresidentTennessee Nick Wisniewski Vice President Brandon Rickman Secretary/Treasurer Jim Hysen Executive Vice President John Sheley
THE NAIL is published monthly by the Home Builders Association of Middle Tennessee, a non-profit trade association dedicated to promoting the American dream of homeownership to all residents of Middle Tennessee.
September, 2022 l The NAIL 5 FEATURES9 Builders Show Booth Registration now open! Sign up now to take part in the Builders Show this October at the HBAMT! The event is only open to builders, exhibitors, and event sponsors. 11 2022 James Hardie Golf Tournament The 2022 James Hardie Golf Tournament took place last month at the Towhee Golf Club in Columbia!16 2022 Parade advertising and exhibiting opportunities The Pinnacle Financial Partners Parade of Homes returns this fall to Rosebrooke. Secure your planbook space DEPARTMENTStoday!6 News & Information 17 SPIKE Club Report 18 September Calendar 18 Chapters and Councils ON THE COVER: HBAMT members enjoyed a great day on the links during the 2022 James Hardie Golf Tour nament at the Towhee Club last month. See page eleven for more details. NAILAdvertiseinTHE For advertising rates and information, or to secure your ad, please withjargo@hbamt.orgemailyourquestionsandrequests.
6 The NAIL l September, 2022
In a further sign that the housing market continues to weaken, new home sales in July fell to their lowest level since Janu ary 2016. The tepid sales pace matches declin ing builder confidence since the beginning of the year as the industry grapples with supply chain disruptions that are delaying new home building projects and raising housing costs as mortgage interest rates increased. Sales of newly built, single-family homes in July fell 12.6% to a 511,000 seasonally ad justed annual rate from a downwardly revised reading in June, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bu reau. New home sales are down 29.6% from a year“Theago.disappointing sales pace mirrors an ongoing decline in builder sentiment as ele vated mortgage rates and higher construction costs are pushing more consumers out of the market, particularly entry-level buyers,” said Jerry Konter, chairman of the National As sociation of Home Builders (NAHB) and a home builder and developer from Savannah, Ga.“The sharp drop in new home sales is an other clear indicator that housing is in a re cession,” said Danushka Nanayakkara-Skil lington, NAHB’s assistant vice president for forecasting and analysis. “The combination of higher prices and increased interest rates are generating a notable slowing of the housing market.”Anew home sale occurs when a sales con tract is signed or a deposit is accepted. The home can be in any stage of construction: not yet started, under construction or completed. In addition to adjusting for seasonal effects, the July reading of 511,000 units is the num ber of homes that would sell if this pace con tinued for the next 12 months.
New single-family home inventory re mained elevated at a 10.9 months’ supply, up 81.7% over last year, with 464,000 available for sale. However, only 45,000 of the new home inventory is completed and ready to occupy. The remaining have not started con struction or are currently under construction.
The median sales price rose to $439,400 in July, up 5.9% compared to June, and is up 8.2% compared to a year ago. Regionally, on a year-to-date basis, new home sales fell in all four regions, down 14.9% in the Northeast, 26.5% in the Midwest, 13.4% in the South and 15.7% in the West. n The combination of higher prices and increased interest rates are generating a notable slowing of the housing market.
New home sales fall in July on higher prices, interest rates.
NEWS&INFO
“Tighter monetary policy from the Federal Reserve and persistently elevated construction costs have brought on a housing recession,” said Dietz. “The total volume of single-family starts will post a decline in 2022, the first such de crease since 2011. However, as signs grow that the rate of inflation is near peaking, long-term interest rates have stabilized, which will provide some stability for the demand-side of the market in the coming months.” Roughly one-in-five (19%) home builders in the HMI survey reported reducing prices in the past month to increase sales or limit cancel lations. The median price reduction was 5% for those reporting using such incentives. Mean while, 69% of builders reported higher interest rates as the reason behind falling housing de mand, the top impact cited in the survey.
“Ongoing growth in construction costs and high mortgage rates continue to weaken market sentiment for single-family home builders,” said Konter. “And in a troubling sign that consum ers are now sitting on the sidelines due to higher housing costs, the August buyer traffic number in our builder survey was 32, the lowest level since April 2014 with the exception of the spring of 2020 when the pandemic first hit.”
Derived from a monthly survey that NAHB has been conducting for more than 35 years, the NAHB/Wells Fargo HMI gauges builder per ceptions of current single-family home sales and sales expectations for the next six months as “good,” “fair” or “poor.” The survey also asks builders to rate traffic of prospective buy ers as “high to very high,” “average” or “low to very low.” Scores for each component are then used to calculate a seasonally adjusted index where any number over 50 indicates that more builders view conditions as good than poor.
Registration now open for 2023 NAHB Builders Show
“The decline in single-family starts is reflected in our latest builder surveys, as housing demand continues to weaken on higher interest rates while on the supply side builders continue to grapple with higher construction costs,” said Jerry Konter, NAHB chairman. “Builders are reporting weaken ing traffic as housing affordability declines.”
Asharp decline in single-family home construction is another indicator that the housing slowdown is showing no signs of abating, as rising construction costs, elevated mortgage rates and supply chain dis ruptions continue to act as a drag on the market.
The NAHB officially opened online registration September 1st, 2022 for the 2023 NAHB International Build ers’ Show® (IBS), the largest annual light construction trade show in the world. IBS will take place in person at the Las Vegas Convention Center, Jan. 31-Feb.
Single-family starts down, builder confidence declines
The July reading of 1.45 million starts is the number of housing units builders would begin if development kept this pace for the next 12 months. Within this overall number, single-fam ily starts decreased 10.1% to a 916,000 season ally adjusted annual rate and are down 2.1% on a year-to-date basis. This is the lowest reading for single-family home building since June 2020. The multifamily sector, which includes apartment buildings and condos, decreased 8.6% to an annualized 530,000 pace.
September, 2022 l The NAIL 7
“A housing recession is underway with build er sentiment falling for eight consecutive months while the pace of single-family home build ing has declined for the last five months,” said NAHB Chief Economist Robert Dietz. “Howev er, multifamily construction remains very strong given the solid demand for rental housing. The number of multifamily 5+ units currently under construction is up 24.8% year-over-year.” Looking at regional permit data on a year-todate basis, permits are 1.9% lower in the North east, 1.9% higher in the Midwest, 2.6% higher in the South and 0.2% higher in the West. Builder confidence down in August Builder confidence fell for the eighth straight month in August as elevated interest rates, on going supply chain problems and high home prices continue to exacerbate housing affordabil ity challenges. In another sign that a declining housing market has failed to bottom out, builder confidence in the market for newly built sin gle-family homes fell six points in August to 49, marking the first time since May 2020 that the index fell below the key break-even measure of 50, according to the latest NAHB/Wells Fargo Housing Market Index (HMI).
Overall housing starts fell 9.6% to a season ally adjusted annual rate of 1.45 million units in July, according to a report from the U.S. Depart ment of Housing and Urban Development and the U.S. Census Bureau.
All three HMI components posted declines in August and each fell to their lowest level since May 2020. Current sales conditions dropped seven points to 57, sales expectations in the next six months declined two points to 47 and traffic of prospective buyers fell five points to 32.
2, where it will again co-locate with the National Kitchen & Bath Association’s (NKBA) Kitchen & Bath Industry Show® (KBIS) for the 10th Annual Design & Con struction Week® (DCW). The two shows are expected to host more than 1,300 ex hibiting brands spanning over 985,000 net square feet of exhibit space, for the largest annual gathering of the residential design and construction industry in the world. Furthering this year’s offerings, in addi tion to IBS and KBIS, registrants can now attend a third industry show at the same place and time with just one badge. Regis tration for IBS will also allow you access to the show floor of the National Hardware ShowDuring(NHS).September, IBS registrants can take advantage of several discounts with all registration options providing access to the exhibits of all 3 shows! A full list of of ferings can be found at BuildersShow.com/ feesThe NAHB International Builders’ Show is not open to the general public. Building industry professionals and their affiliates are invited to register by visiting the show’s website at BuildersShow.com n
Looking at the three-month moving averages for regional HMI scores, the Northeast fell nine points to 56, the Midwest dropped three points to 49, the South fell seven points to 63 and the West posted an 11-point decline to 51. n
September, 2022 l The NAIL 11
Congratulations to the Farris Bobango team for capturing first place honors at the tournament! The foursome included, from left, Eric Glassner, Jeff Stone King, Blake Strong, and AJ Moore.
The James Hardie Golf Tourna ment was held Thursday, August 15 at the Towhee Club in Colum bia. Over 250 golfers competed in the event and enjoyed food, beverages and support from a large number of friends and sponsors who filled the course.
Congratulations to the Farris Bobango team for capturing first place honors at the tournament wrap-up party. The foursome included, from left, Eric Glassner, Jeff Stone King, Blake Strong, and AJ Moore. A big thanks again to our title sponsor James Hardie Building Products and to all the tournament sponsors who are recog nized on page fifteen n
James Hardie Golf Tournament 2022!
12 The NAIL l September, 2022
& BrewsBuilders First Source Contract Lumber Arcxis Winsupply of Franklin Eurostone, LLC Pulley & Associates / Delta Sherwin Williams Hale Insurance Real Wood Supply & Design
HortonBarrels
September, 2022 l The NAIL 13 DR
HermitageForce
14 The NAIL l September, 2022
Roofing SystemsRagan Smith American Heating and Cooling Tolbert Marketing, Movement Mortgage, Lennar, Ole South Properties Bank OZK Henley Supply Group Pulte Group US BankFerguson
September, 2022 l The NAIL 15 CosentinoT-Square Engineering Performance Point Intex Contracting Cambria Thank you tournament sponsors! James Hardie Building Productstitle sponsors DR Horton - Lunch Trus-JoistAmericanGoldUSSPECSherwin-WilliamsJeffcoGAFFergusonBuildersBoiseArcxisPlatinumEuro-Stone,BreakfastLLC-Wrap-upsponsorsCascadeFirstSourceFlooringBuildingMaterialsBanksponsorsHeating&Cooling Barrels and Brews DiamondCosentinoKote Building Products Henley PerformanceMetroLennarKennyHermitageSupply&CompanyCarpetsPoint LLC Pulte ContractBellBankAssociatedSilverT-SquareRaganSmithGroupEngineeringsponsorsMasonryProductsOZKLawSettlementServicesLumber Force Roofing Systems Electronic Express Hale PulleyPDI-Kitchen,OwensOleOfferpad“MortgageMoenInsuranceMike”SouthPropertiesCorningBath&Lighting&Associates/DeltaFaucet Co. R W Supply & Design TolbertSims-LohmanMarketing & Events Winsupply of Franklin Hospitality sponsors US CambriaVaViaLumber
*Page One 7.5”x10” 8.75”x11.25” (Bleed) $1,600
Here’s your chance to demonstrate your product or service to the thousands of qualified prospects who pass through the Parade of Homes exhibit center when they enter and leave the show. As with Plan Book advertising, the exhibit center produces virtually all pre-qualified customers! It’s like opening up shop and having thousands of prospects visit your show room the first two weeks you’re in business. What other medium could come close to producing those kinds of results? The Parade ranks first of all home shows in the nation and you can take advantage of the prestige this show enjoys. Exhibit Booth Price? $750 Each booth in the Parade of Homes exhibit center measures 10’ x 6’ at the front entrance where patrons must enter and exit -- perfect for eye-popping kiosks and marketing publications!
16 The NAIL l September, 2022 PLAN BOOK AD - please check the size of ad you would like to secure in the 2022 Plan Book: r Half Page r Full Page r 2-Page Spread EXHIBIT BOOTH SPACE - please check here to secure your 2022 Exhibit Booth Space: r Your name: ____________________________________ Company: _____________________________________ Cell: _________________________________________ Email: _________________________________________ Total amount being paid: $___________ Credit Card _______________________ Credit Card # _______________________________ Exp. ____________ Credit Card V-Code _______________ The “v-code” is found on the back of the card, usually printed or embossed atop or near the signature strip. It is comprised of three digits found to the right of a longer number Signature ____________________________________________________________________________________ 2022 PARADE OF HOMES - PROMOTIONAL OPPORTUNITIES COMMITMENT FORM Return completed form to: HBAMT, 9007 Overlook Blvd., Brentwood, TN 37027 | Email: jargo@hbamt.org Pinnacle Financial Partners Parade of Homes The 2022 Parade of Homes at Rosebrooke THE PARADE PLAN BOOK At every Parade event each attendee is handed a magazine as they walk through the front gate - the Parade Plan Book The Plan Book is a tremendous opportunity to put your message into the hands of pre-qualified customers who refer to the book several months after the Parade of Homes is over! Plan Book Advertising Rates Half Page 7.5” x4.75” (Horizontal) $800 Full Page 7.5”x10” 8.75”x 11.25” (B1eed) $1,200
*SPECIALTY LOCATIONS SOLD Email jargo@hbamt.org for ad specs and availability.
If your company depends on new homes or related products, furnishings or services, here’s one opportunity you can’t pass up -- the 2022 Pinnacle Financial Partners Parade of Homes at Rosebrooke! Secure your space in the Plan Book or reserve an Exhibit Booth today.
&ADVERTISEEXHIBIT
*Inside Front Cover $2,100 *Inside Back Cover $2,300 Double Truck $2,840 *Back Cover $3,250
THE PARADE EXHIBIT BOOTH
September, 2022 l The NAIL 17 SPIKE REPORT Twenty-five SPIKES (in bold) increased their recruitment numbers last month. What is a SPIKE? SPIKES recruit new members and help the association retain members. Here is the latest SPIKE report as of July 31, 2022. Top 20 Big Spikes Mitzi Spann 793 Terry Cobb 570 Trey Lewis 544 James Carbine 451 Jimmy Franks 424 Jennifer Earnest 385 David Crane 349 Kevin Hale 302 Reese Smith III 261 Davis Lamb 226 Sonny Shackelford 219 Nick Wisniewski 197 David Hughes 185 Steve Shalibo 181 Randall Smith 181 Brandon Rickman 175 Jim McLean 165 Tonya Esquibel 155 Steve Cates 147 Harry Johnson 146 Life Spikes C.W. Bartlett 138 Jordan Clark 132 Michael Dillon 123 B.J. Hanson 122 Dave McGowan 122 John Zelenak 118 Justin Hicks 116 Edsel Charles 113 Wiggs Thompson 109 Duane Vanhook 110 Keith Porterfield 84 Sam Henley 82 Jody Derrick 81 Erin Richardson 77 Beth Sturm 76 Ron Schroeder 75 Joe Dalton 73 Nelson Bordeau 71 Christina James 69 Andrew Neuman 68 Ryan Meade 58 Rachel Holloway 57 Brian Sebring 56 John Broderick 55 Rick Olszewski 54 John Ganschow 51 Jim Hysen 50 Frank Jones 50 Ricky Scott 45 Don Mahone 31 Lisa Underwood 31 Margaret Tolbert 30 Kelvey Benward 28 Jeffrey Caruth 28 Maverick Green 25 Spikes Perry Pratt 24 Tammy Chambers 22 Danny Clawson 18 Eli Routh 16 Nicole Bird 15 Rob Pease 15 John Nehrenz 14 Chris Richey 11 Curt Haynes 11 Will Montgomery 10 Clint Mitchell 9 Bob Bellenfant 8 Randy Arnold 7 Matt Dryden 7 McClain Franks 6
DICKSON COUNTY CHAPTER
WILLIAMSON COUNTY CHAPTER Chapter President - John Nehrenz The Williamson County Chapter meets on the third Tuesday of the month, 11:30 a.m. at the HBAMT offices. Next meeting: to be announced. Builders Free pending sponsorship. Price: $10 per person with RSVP ($20 w/o RSVP). Chapter RSVP Line: 615/377-9651, ext. 305
ROBERTSON COUNTY CHAPTER Next meeting: to be announced. Robertson County RSVP line: 615-377-9651, ext. 313.
Chapter President - Tonya Esquibel The Metro/Nashville Chapter meets on the third Tuesday of the month, 11:30 a.m. at the HBAMT offices. Next meeting: Thursday, September 15th. Topic: “Milennials vs. Legends,” expert building professional event series continues! Price: to be announced. RSVP to: cnicley@hbamt.org
Cheatham County Chapter details are being planned. Next meeting: to be announced. Chapter RSVP Line: 615/377-9651, ext. 310
Chapter President - Kelly Beasley. Maury County Chapter details are currently being planned. Next meeting: to be announced. Chapter RSVP line: 615-377-9651, ext. 312; for callers outside the 615 area code, 1-800-571-9995, ext. 312
SUMNER COUNTY CHAPTER Chapter President - Joe Dalton: 615/972-7149 The Sumner County Chapter meets on the fourth Tuesday of the month, 11:30 a.m. at the new Hendersonville Library. Next meeting: to be announced. Chapter RSVP Line: 615/377-9651, ext. 262
COUNCIL Council President - Eli Routh. The HBAMT Remodelers Council meets at varying locations throughout the year. Next meeting: Tuesday, September 27 at a Circa Lighting. Topic: Afternoon Mixer. Price: to be announced. Council RSVP Line: 615/377-9651, ext. 263 RSVP to: cnicley@hbamt.org
MAURY COUNTY CHAPTER
INFILL BUILDERS COUNCIL
HBAMTCOUNCILSREMODELERS
WILSON COUNTY CHAPTER Chapter President - Margaret Tolbert The Wilson County Chapter meets on the second Thursday of the month, 9:00 a.m. at the Mt. Juliet Chamber of Com merce: 2055 N. Mt. Juliet Road, #200 - 37122. Next meeting: Thursday, September 8th. Topic: “Social Media for Business.” Stay on top of the latest trends in the social media space to make your brand stand out. Margaret Tolbert from Tolbert Marketing and Events will give you the best tips and tricks to be seen where people are HBAMTlooking!members Free w/RSVP thanks to Schlage! RSVP to: cnicley@hbamt.org
Chapter President - Mark Denney: 615/446-2873. The Dickson County Chapter meets on the third Monday of the month, 12:00 p.m. at Colton’s Steakhouse in Dickson. Next meeting: to be announced. Price: FREE, lunch dutch treat. Chapter RSVP Line: 615/377-9651, ext. 264
MIDDLE TENN SALES & MARKETING COUNCIL Council President - Lisa Underwood. The SMC typically meets on the first Thursday of the month, 9:00 a.m. at the HBAMT offices. Next meeting and topic: Thursday, October 6th. Topic: to be announced. SMC members free pending sponsorship; non-SMC members $20 w/RSVP, $25 w/o RSVP RSVP to: cnicley@hbamt.org
METRO/NASHVILLE CHAPTER
CHAPTERS & COUNCILS 1 2 3 4 5 6 7 8 Wilson County meeting/eventChapter 9 10 11 12 13 14 15 Metro/Nashville Chapter meeting 16 17 18 19 20 21 22 23 24 25 26 27 HBAMT Remodelers Council Mixer Event 28 29 30 1 2 3 4 5 6 7 8 Sunday Monday Tuesday Wednesday Thursday Friday Saturday SEPTEMBER CALENDAR
COUNTY CHAPTER Chapter President - Roy Miles: 615/646-3303
The Infill Builders Council typically meets on the third Thursday of the month, 11:30 a.m. at the HBAMT offices Next meeting: to be announced. Price: to be announced. RSVP to: 615/377-9651, ext. 265.
18 The NAIL l September, 2022 CHEATHAMCHAPTERS
