Sales prices for high quality farmland in Tennessee are rising, but sales activity has slowed, Farmers National Co. reported today.
“Land is still a good investment for buyers, but they want the high quality properties that hold value,” Lee Vermeer, vice president of real estate operations at Farmers National, said in a statement.
Farmers National is an agricultural real estate and farm and ranch management company.
In the Tennessee, Arkansas, Mississippi region owners are holding on to their land and farmers are taking advantage of federal programs to raise the value of their property, Farmers National said.
High quality farmland in Tennessee is selling for $3,500 an acre.