Sluggish market, interest rates holding

With the first week of June in the books the Knox County Register of Deeds adds 1,484 documents to the property records. Although this shows a slight increase in activity over the week prior, the market has been a little sluggish lately overall. Inventory is rising as there are more properties available within the county. However, rates are holding, and activity is somewhat stagnant.

Trust deeds with a cumulative value of $148.1 million accounted for 357 recordings last week. Out of all the financing transactions, 14 were commercial loans worth $1 million or more. The largest mortgage of the week was backed by Midcap Financial Trust for a whopping $23.98 million. Citizens Bank and First Horizon Bank were the only two lenders with more than one transaction valued at $1 million or more. Citizens Bank funded a loan for $2.55 million and a second one for $1.37 million. First Horizon backed one for $1.33 million and one for $1.34 million. The other nine commercial loans valued at $1 million or more are outlined below:

On the transfer side, 299 warranty deeds were recorded with an aggregate value of $126.9 million. This represents nearly 30 more transactions and almost $30 million in value over the week prior. Like last week though, there was only one commercial sale valued over $1 million. Three adjoining lots on N. Central Street next to Fred’s Alignment at the corner of Anderson Avenue changed hands. A private party sold the lots at 1128, 1121, and 1120 N. Central Street to Central Knox Development Partners LLC for $1.3 million.

The year-to-date comparison chart has been updated through June 6, 2025:

If you are unaware, you should know that our office has a Free Knox County Property Fraud Alert system in place. Once you sign up, an email notification will be sent only when something is recorded under the name or address you have registered. To enroll, follow the prompts on our website at: https://alertme.knoxrod.org.

Have a great weekend!       – Nick

Nick McBride is register of deeds for Knox County.