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Jump in building permits points to new growth in Chattanooga region

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Photo by Jake Daniels / Chattanooga Times Free Press Photo by Jake Daniels / Chattanooga Times Free Press

CHATTANOOGA, TN. (Times Free Press) -- Year after year, quarter after quarter, experts have repeated the mantra they learned during the 2007 real estate crash: "The market has hit bottom," they would say. "It can't get any worse than this."

This time, it appears they were right.

In fact, the current housing recovery appears strong enough that if banks don't open the floodgates for development and construction loans, then the boom in home construction could stall for a lack of cleared lots, officials warn.

In 2012, the Chattanooga-area housing market bounced back in a big way. For the first time since 2007, the number of building permits in Hamilton County rose above 1,000, propelling the region out of the subprime housing downturn.

Read more on the story from our news partners at the Chattanooga Times Free Press.

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