Like the real estate market across the county, development conditions in Williamson County is less than ideal. And while not as robust as twelve months ago, the commercial market remains not unhealthy (yes, thats what I said). [by commercial market, I am generally referring to just about everything other than individual residential home sales]
An interesting indicator I am watching is the building of new residential lots, which isn't happening right now. Corporate home builders in the county [DR Horton, Centex, Lennar and others] for the most part sold their lot inventory of constructed lots or land to be entitled as lots late in 2008 so they could send cash to their east and west coast subsidiaries. The issue here is they are still building and selling new homes at a respectable pace, and burning through their inventory existing lots. My estimation is that come the fourth quarter of 2009 corporate builders will be more or less out of lots.
I look for lot developers to step in and fill the lot needs of the corporate builders. Thus, I am looking to see when lot developers begin construction, spurring the demand for new commercial development.