Despite COVID-19, the “Heart of Georgia” Market is Holding Strong. by Carole VanSickle Ellis Macon, Georgia, sits squarely in the geographic center of the state, a location that earned the city its nickname, “The Heart of Georgia.” And while the Georgia’s “heart” may have been historically overshadowed by its capital, Atlanta (“Hotlanta”), real estate in Macon has taken an unprecedented turn skyward in 2020 thanks in large part to a pandemic-resistant economy and the housing affordability that the entire southeastern state is known for. Although local real estate professionals in the area were initially taken by surprise when the market recovered and skyrocketed in the wake of March 2020’s near-national lockdowns, they reported that by Fall 2020 the Macon market was showing an unprecedented level of competition. “2020 has been a crazy year,” said mortgage loan officer Kacy Discher. “This is the first time I can ever remember Macon having bidding wars,” she added. The last documented evidence of this trend in Macon was around 2006. Low interest rates combined with relative affordability, proximity to drivable outdoor recreation destinations, and an emerging COVID-driven surge into the single-family housing market have driven Macon home prices upward while sending active housing inventory downward. Georgia’s history of investor and business friendly policies have somewhat insulated the state and its major metro areas, of which Macon is one, from much of the economic fallout affecting other states in the wake of the coronavirus pandemic. In fact, Macon’s employment metrics, while certainly not as positive as they were in January of this year, indicate unemployment as of September 2020 was hovering around 6 percent, below both the national average and rates in harder-hit cities of similar sizes. In fact, according to the Georgia Department of Labor, Macon’s unemployment rate is only about 1.6 percent higher this fall than it was at the same time last year. Georgia Department of Labor commissioner Mark Butler cited businesses’ increased preparedness for COVID-19 going into the fall as a positive sign that Middle Georgia, including the Macon-Bibb County area, would likely have an advantage in the post-pandemic recovery. “As long as economic conditions stay the same, I think you are going to see us get back to where we were back in February at historical lows,” he predicted at the end of September 2020. The Perfect Location to Win Homebuyers’ Hearts Prior to the emergence of COVID-19 in the United States, Macon was already “ticking the boxes” for many homeowners, business owners, and major employers. With three colleges ranked in WalletHub’s “Best Colleges in Georgia” list for 2020, employment options in a variety of recession-resistant sectors like healthcare, insurance, and education, and the close proximity of Robins Air Force Base in the city of Warner Robins just 10 miles away, home values in the area had been rising steadily since 2012, gaining nearly 5 percent in 2019 and projected (prior to COVID) to gain another 2-3 percent in 2020. In the wake of the COVID-19 pandemic, however, things in Macon shifted and the market heated up. Based on market activity between April and August 2020, Zillow analysts now predict home prices will rise another 4.5 percent. Like most other markets across the country, Macon’s available housing inventory has fallen dramatically, with available inventory down nearly 40 percent compared to this time a year ago. Demand is likely to continue to rise, particularly for what many investors refer to as “bread-and-butter” properties that appeal to first-time homebuyers and renters who value single-family housing. With Georgia tied for seventh place in the nation for the lowest unemployment rates in the country and Middle Georgia’s unemployment even lower than that, the job market in the area is sustaining the local economy and attracting new residents both to buy and rent. The municipal governments in Macon and Bibb County are working hard to make sure those new residents have the types of housing options they need, issuing nearly double the number of home-building permits in 2020 than were issued in 2019. Even the local retail sector is tentatively back in hiring mode, with one local employment agency specifically courting out-of-work and furloughed restaurant, hospitality, and retail workers to fill around 1,000 positions at local companies. Many of these positions will be considered “light warehouse jobs,” said Michael Chalmers, who owns Spherion Staffing and is helping fill this type of position. He added that the temporary employees will have the opportunity to potentially gain fulltime employment at the companies for which he is hiring. Chalmers noted that local businesses are already in “holiday shopping” mode thanks to coronavirus, which has forced many businesses to shift their focus from brick-and-mortar operations to online retail. This has necessitated an employment shift as well, with more workers being necessary to handle pulling, packing, and shipping. “Normally, we do this business pretty heavily in the fourth quarter because of the Christmas season, but we have been seeing upticks…since May,” Chalmers told The Macon Telegraph at the end of September. The city also has its own initiative to keep local businesses open and residents safe and employed. In September, local economic development agency NewTown Macon partnered with the Greater Macon Chamber of Commerce, Macon-Bibb County, the Macon-Bibb Emergency Management Agency, the local Urban Development Authority and Visit Macon to “unify businesses and residents committed to slowing the spread of COVID-19 while supporting the local economy.” Through that initiative, local businesses were able to formulate a clear plan of action to help consumers feel safe and continue to patronize local establishments. More than 90 businesses signed up for the campaign, Josh Rogers, director of NewTown Macon, reported mid-September. Local business owners say the initiative is working. “[Customers] feel safe to come here. They feel safe to eat at our restaurants and shop in our stores,” said the owner of a local brewery and restaurant. Ticking the Boxes for Post-Pandemic Real Estate Given its middle-Georgia location, Macon is primed to attract first-time, post-pandemic homebuyers and new residents participating in the
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