GREENEVILLE, Tenn. (WJHL) — Seven months ago, infrastructure crews were just starting on a massive single-family subdivision in Greeneville.
A drive through the subdivision Wednesday showed the Johnson Farms project with a far different appearance, with about 30 homes fully or nearly complete and a handful of them already sold.
National homebuilder D.R. Horton plans to build about 350 houses on the property off North Rufe Taylor Road behind Lowe’s and Ingle’s, a Northeast Tennessee Market spokesman for D.R. Horton told News Channel 11.
The company is buying lots from infrastructure developer Landstar as they complete roads, sewer work and essentially deliver a building-ready product. D.R. Horton plans to buy another 30 lots soon and begin another round of construction before winter.
About five of the homes have sold already with an average price of about $291,000, the spokesman said, adding that the development is one of D.R. Horton’s most affordable single-family communities in the region.
Depending on market conditions, which have softened slightly due to high mortgage rates, the company expects to build and sell 75-100 houses annually for the next three to five years. The spokesman said the “market demand” in Greeneville has turned out to be more weighted toward single-story homes and that D.R. Horton now expects to build more of those models at Johnson Farms.
The development is barely a stone’s throw from the property where Greeneville City Schools have announced plans to build a new middle school.