EAST TENNESSEE
HAKES BROTHERS Community & Competitive Stops
EXECUTIVE TOUR NAVIGATION GUIDE Navigable site locations, nearest competitive communities, and model-tour notes. Active sites under current evaluation
CURRENT OPPORTUNITIES COMMUNITY / SITE
NAVIGABLE SITE LOCATION
COMPETITION / TOUR STOP
COMPETITOR ADDRESS
TOUR NOTE
Brittany Oaks
1120 Old Boones Creek Rd Jonesborough, TN 37659
D.R. Horton Archer's Pointe
107 Tanasqui Dr Johnson City, TN 37604
CLOSEOUT - Drive-through only; no model to tour
Same Hakes site
D.R. Horton Keebler Meadows
300 Cookie Loop Johnson City, TN 37615
Next closest community with model available to tour
700 E Broadway Blvd Jefferson City, TN 37760
D.R. Horton Creekside Ridge
6004 Sycamore Stream Rd Dandridge, TN 37725
Model open - Express Series; Horton's lowest feature level
Same Hakes site
D.R. Horton Millstone Village
5152 Lost Creek Dr Morristown, TN 37813
Model open - Traditions Series; 9' plate vs. 8' and nicer front elevation
1736 Old Tusculum Rd Greeneville, TN 37743
D.R. Horton Johnson Farms
1002 Persimmon Hollow Greeneville, TN 37745
Nearest competition
Jonesborough / Tri-Cities
Brittany Oaks
Model Tour Alternative
Pinewood Commons
Jefferson City / Knoxville Corridor
Pinewood Commons
Additional Product Comparison
Greeneville Hospital Site Greeneville / Greene County
Pipeline opportunities - not current committed deals
PROSPECTIVE FUTURE DEALS COMMUNITY / SITE
NAVIGABLE SITE LOCATION
COMPETITION / TOUR STOP
COMPETITOR ADDRESS
TOUR NOTE
Spring Trace
Navigate to Porter's Tire Store: 1468 N Davy Crockett Pkwy Morristown, TN 37814
D.R. Horton Millstone Village
5152 Lost Creek Dr Morristown, TN 37813
Model open - Traditions Series
D.R. Horton Keebler Meadows
300 Cookie Loop Johnson City, TN 37615
Nearest relevant competition; model available to tour
Morristown
Property is directly across the road.
Leland Landings
Kingsport / Tri-Cities
Navigate to: 174 Derby Dr Kingsport, TN 37660
Property is directly across the road.
NAVIGATION NOTE Spring Trace and Leland Landings use nearby navigation reference points; each prospective property is directly across the road.
East Tennessee Executive Tour | Hakes Brothers
Jonesborough – Brittany Oaks (Tri-Cities) Deal Overview • 74 single-family lots (~40/45’ product) • Larger 65’-75’ Lots • Walkout Basement and Crawlspace lots • Finished lot delivery (developer completes horizontal work) • Competitive Advantage • DR Horton sold out in submarket • Prior offer ~$90K/lot declined developer from Orlando in a dispute with Horton and how they want lots. • Secured at ~$85K → strong cost advantage • Pricing flexibility + margin expansion Market Drivers • Top-Tier Migration Growth (Nationally Recognized) The Johnson City Metropolitan Statistical Area (which includes Washington County) has ranked among the fastest-growing U.S. metros by percentage growth in recent years, driven by inbound migration • Net In-Migration Leader in Tennessee Northeast Tennessee has been a consistent net in-migration region, with Washington County benefiting directly as the primary employment and population hub of the Tri-Cities • Remote Work & Cost-of-Living Arbitrage Significant influx of buyers relocating from higher-cost markets, leveraging remote work to access lower housing costs and higher quality of life
Avg Price: ~$340K–$425K (est.) Lot Cost: ~85k Earnest: $100,000 Take: 3 initial, 2 per month with option to take more Pace: ~3–4/month Market Dynamics Strong inbound migration to Tri-Cities Buyers seeking affordability vs larger metros Limited move-up inventory available Nearby Drivers & Points of Interest Employment / Economic Base Eastman Chemical Company Ballad Health East Tennessee State University Retail / Lifestyle The Mall at Johnson City Downtown Johnson City Premium Area Influence The Ridges / Blackthorn Club Established move-up and executive housing market Location Advantage Immediate proximity to Johnson City (primary demand driver) Central within Tri-Cities region
Original Approved Plan
New Approved Plan
Jonesborough Deal Images
Jonesborough Deal Images
Jefferson City – Move-Up / Mid-Market Opportunity
Deal Overview •
102 single-family lots within active community
• Developer building higher-end townhome product • Established neighborhood with ongoing development • Located along US-11E corridor between Knoxville and Morristown
Competitive Advantage • Mid-Market Positioning: Targets gap between DR Horton and higher-end builders • Established Community: Active development reduces risk vs greenfield • Scalable Volume:102 lots support consistent 3–4/month pace • Builder-Validated Market: Existing production activity confirms demand Market Drivers • Corridor Demand: Positioned along Knoxville–Morristown growth path
• Employment Base: Supported by Carson-Newman University and regional employers • Affordability Advantage: Buyers priced out of Knoxville seeking attainable options • Limited Move-Up Supply: Gap in product between entry-level and high-end
Avg Price: ~$325K–$419K (est.) Lot Cost: $80,000 per lot Earnest: Developer agreed to 1% Product: Move-Up Takedown: 6 initial then 2 per month Pace: ~3–4/month Market Dynamics • Strong demand in mid-market price band • Buyers seeking upgrade from entry-level product • Proven absorption from existing builders Nearby Drivers, Visibility, & Points of Interest • Proximity to Knoxville and Morristown • Located along major US-11E corridor • Near Carson-Newman University • Access to regional retail and employment • Established residential growth in surrounding area
Approved Plan
Jefferson City Deal Images
Jefferson City Deal Images
Greeneville- Infill Hospital Deal
Deal Overview •
7-acre parcel with direct frontage on 11-E / Andrew Johnson Hwy
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Dual access: highway + rear road connectivity
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Flat topography with minimal development complexity
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Sewer and water infrastructure available
Competitive Advantage •
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High-Visibility Location: Direct frontage on a major corridor drives organic traffic and reduces marketing costs. Entrance across from Main Hospital entrance Infrastructure-Ready Site: Sewer, water, and flat topography enable faster, lower-risk execution
Market Drivers •
High-Traffic Retail Corridor Demand: Located along a primary entry corridor into Greeneville with strong daily traffic and proximity to Walmart Supercenter and surrounding retail
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Affordability vs Regional Markets: Buyers priced out of Knoxville and surrounding areas are seeking more attainable housing options with similar accessibility
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Spillover Growth from Tri-Cities & Knoxville: Central location between Johnson City and Knoxville captures demand from both directions
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Limited New Construction Supply: Lack of well-located, infrastructure-ready communities creates opportunity for strong absorption
Avg Price: ~$325K–$415K (est.) Lot Cost: ~$70k-75k (SF) (est.) Take: 17 total lots split in 2 takes. 8 then 9 Pace: ~3–4/month Market Dynamics Strong inbound migration to Tri-Cities Buyers seeking affordability vs larger metros Limited move-up inventory available Nearby Drivers, Visibility, & Points of Interest • Walkable to Tusculum University • Near Greeneville Astros stadium • Less than 1 mile from major retail and shopping corridor • Mountain views and surrounding residential growth • Positioned directly across from Main Hospital • Located along a major traffic corridor entering Greeneville • High daily visibility for signage, model, and marketing presence • Retail-anchored location supports strong buyer awareness
Greeneville Deal Images
Pipeline/ Potential Deals
Kingsport- Leland Landings Large Lot Affordability Deal
Deal Overview •
Lots: 89 SF
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Lot Size: ~½ Acre
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Pad: 35' × 75’
Avg Price: ~$285K–$375K (est.) Lot Cost: ~$60k-$65k (SF) (est.) Take: 89 total lots. 5 initial then 2 per month. Pace: ~2–3/month
Competitive Advantage
• Large-Lot Value: Approximately ½-acre homesites at an attainable price point create a differentiated offering • Affordability: Anticipated starting prices around $285K, opening the community to a broad buyer pool • Low Capital Commitment: Only 5 lots required initially, followed by a minimum commitment of 2 lots/month • Upside Flexibility: Hakes can accelerate lot purchases as sales demand warrants • Employment Accessibility: Rural setting while remaining approximately 14 minutes from Eastman Chemical and Downtown Kingsport Market Drivers • Eastman Employment Base: Approximately 14 minutes from Eastman Chemical, one of Northeast Tennessee’s major employment anchors • Interstate 81 Access: Approximately 5 minutes from I-81, providing quick regional access throughout the Tri-Cities • Kingsport Accessibility: Approximately 14 minutes from Downtown Kingsport and its employment, retail, healthcare, and services • Affordability Demand: Anticipated starting prices around $285K provide an attainable new-construction alternative • Large-Lot Lifestyle: Approximately ½-acre homesites offer significantly more space than typical production communities at this price point • Regional Buyer Reach: I-81 connectivity expands the potential buyer base beyond Kingsport to the broader Johnson City–Kingsport–Bristol region
Nearby Drivers, Visibility, & Points of Interest
Eastman Chemical Company – ~14 minutes; major Kingsport employment anchor Downtown Kingsport – ~14 minutes; employment, dining, retail, and services Interstate 81 – ~5 minutes; rapid access throughout the Tri-Cities region Johnson City – Regional employment, healthcare, education, retail, and entertainment access via I-81/I-26 Bristol – Regional employment, retail, entertainment, and recreation access via I-81 Sullivan Gardens Parkway – Direct connection into the greater Kingsport area Tri-Cities Regional Connectivity – Location provides access to Kingsport, Johnson City, Bristol, and surrounding Northeast Tennessee employment centers
Spring Trace Morristown – Entry / Volume Strategy (Hamblen County) Deal Overview • 51 single-family lots (~50’ product) • Optional 84 townhome lots (~22’ product) • Finished lot delivery (developer completes horizontal work)
Avg Price: ~$335K–$410K (est.) Lot Cost: ~$90K (SF) Product: Entry / Move-Up Pace: ~3–4/month
Competitive Benchmark (Recent Sales Activity)
• Primary entry point into East Tennessee
DR Horton recently sold homes ranging from: ~$245K–$289K (1,183 sq ft, single-story) ~$305K–$325K (2,174 sq ft, two-story) Limited upgrade options and basic product offering
• Lower land basis vs Knoxville
Nearby Drivers & Points of Interest
• Development underway Strategic Positioning
• Reduced competition • Fast path to vertical construction Market Drivers • Strong affordability demand • Knoxville spillover (~45–50 min)
• Growing commuter base • Limited upgraded product supply
Walters State Community College – Local education and employment base College Square Mall – Primary retail hub Morristown Hamblen Healthcare System – Major regional employer Cherokee Lake – Recreation and lifestyle appeal Knoxville – ~45–50 minutes (commuter access, price spillover) Johnson City – ~45–50 minutes (Tri-Cities access)
Morristown Deal Image
FAQ’S
East TN Market
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Q: Are Knoxville and Northeast Tennessee the same housing market?
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A: No — and that is a strength of the strategy. East Tennessee contains multiple established economic and housing markets that can be served efficiently through one operating platform.
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Knoxville / Morristown Corridor
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Knoxville is East Tennessee’s largest metropolitan and employment center.
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Jefferson City and Morristown provide more attainable housing alternatives east of Knoxville.
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The corridor benefits from access to Knoxville employment while maintaining its own local employment, education, healthcare, and retail base.
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This creates opportunities across both move-up and affordability-oriented price points.
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Northeast Tennessee / Tri-Cities
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Johnson City, Kingsport, and Bristol form a separate regional economic and housing market.
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The region is anchored by healthcare, higher education, advanced manufacturing, distribution, and regional services.
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Jonesborough, Greeneville, and surrounding communities expand the available housing footprint beyond the municipal boundaries of the three principal cities.
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I-26 and I-81 provide strong connectivity between the region’s major employment and population centers.
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Key Takeaway
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The strategy is not “Knoxville and remote communities.” It is one East Tennessee operating platform serving multiple established demand centers.
NE-TN (TriCities)
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Q: Johnson City, Jonesborough, Kingsport, and Greeneville are relatively small cities. Where is the population?
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A: Municipal populations significantly understate the size of Northeast Tennessee because the population is distributed across cities, towns, and unincorporated county areas.
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Washington County
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141,199 Residents Johnson City + Jonesborough +6.2% since 2020
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Sullivan County
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163,759 Residents Kingsport + Bristol Area +3.5% since 2020
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Greene County
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73,831 Residents Greeneville +5.2% since 2020
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378,789 Residents
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Across just these three Northeast Tennessee counties
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This does not include Carter, Hawkins, Unicoi, or the Virginia portion of the greater Tri-Cities region.
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Key Takeaway
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Northeast Tennessee is a dispersed regional market—not a collection of isolated small towns. County-level population better reflects the actual customer and employment base than municipal population alone.
NE-TN Economy
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Q: Where do Northeast Tennessee homebuyers work?
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A: Northeast Tennessee has a diverse employment base spanning advanced manufacturing, healthcare, higher education, distribution, retail, tourism, and professional services.
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Kingsport / Sullivan County
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Eastman Chemical Company
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Regional healthcare and medical employment
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Advanced manufacturing and industrial employment
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Bristol Motor Speedway and regional tourism/entertainment
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Retail, logistics, and professional services
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Johnson City / Washington County
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Ballad Health
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East Tennessee State University
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Healthcare and medical services
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Higher education and government
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Regional retail and professional services
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Greeneville / Greene County
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John Deere Power Products
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Manufacturing and industrial employment
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Healthcare
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Tusculum University
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Distribution, retail, and local services
Why is East TN special?
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Q: Why East Tennessee?
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A: East Tennessee combines population growth, economic diversity, affordability, connectivity, and quality of life in a way that creates opportunities across multiple buyer segments and price points.
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Quality of Life
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Mountains, lakes, four seasons, outdoor recreation, historic communities, and lower-density living create a compelling lifestyle proposition.
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Affordability
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Buyers can obtain more home, more land, and greater lifestyle value than in many larger Southeastern metropolitan areas.
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Economic Diversity
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Healthcare, higher education, advanced manufacturing, research, tourism, distribution, retail, and professional services create multiple sources of housing demand.
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Population & Migration
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Key East Tennessee counties continue to add residents, supported by both local household formation and inbound migration.
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Multiple Buyer Profiles
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Opportunities exist across first-time, workforce, move-up, executive, retiree, and relocation buyers.
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Regional Connectivity
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I-40, I-81, and I-26 connect Knoxville, Morristown, Greeneville, Johnson City, Kingsport, and Bristol and provide access to major employment centers throughout the region.
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Multiple Product Opportunities
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East Tennessee supports attainable production housing, larger-lot affordability, move-up communities, and premium product—reducing reliance on a single buyer segment.
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Closing Statement
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East Tennessee offers something unusual: multiple growing demand centers, diverse employment, attainable land, strong quality of life, and the ability to build a regional platform without relying on a single city or buyer segment.
Market Overview • Knoxville serves as the primary economic hub of East Tennessee, anchored by University of Tennessee, Oak Ridge National Laboratory, and a strong healthcare network
Knoxville – Core Market / Premium Buyer Base
• The market has experienced sustained inbound migration due to relative affordability versus larger Southeast metros and strong quality-of-life appeal (mountains, lakes, outdoor lifestyle) • Diverse employment, higher household incomes, and established infrastructure support move-up and premium housing demand, particularly in core west and suburban submarkets Market Drivers • Population & Migration Growth Knoxville has seen steady population growth driven by relocation from highercost markets across the Southeast and Midwest
• Employment & Economic Stability Major employers in education, healthcare, and research create a stable and growing buyer base • Lifestyle & Tourism Influence Proximity to the Smoky Mountains, lakes, and tourism corridors supports both full-time residents and second-home demand
West Knoxville – • (Sequoia Hills, Cedar Bluff, Farragut) • Highest-demand submarket with limited available land supply • Requires $650K–$800K+ base pricing to support elevated lot costs
Knoxville Sub-Markets
• Top-rated schools, premier retail (Turkey Creek), dining, and proximity to the University of Tennessee • Positioning: Premium / move-up core market, strong pricing power, limited entry opportunities Alcoa / Maryville – • Established suburban family market anchored by proximity to McGhee Tyson Airport • Strong school systems and consistent residential demand • More attainable land costs vs West Knoxville with stable absorption • Positioning: Family-driven suburban growth with reliable demand
North Knoxville –
• (Oak Ridge, Powell, Clinton) • More rural / spread-out communities with lower land costs • Primarily supports entry-level and affordability-driven product
Knoxville SubMarkets-2
• Buyers rely on Knoxville for retail, employment, and entertainment access • Positioning: Price-driven communities with limited move-up demand Seymour – • Strong commuter location with quick access to downtown Knoxville • Good schools and growing residential demand • Lower land basis than core Knoxville submarkets • Positioning: Balanced affordability + accessibility, strong for entry and move-up
Sevierville – • Employment driven by tourism corridor including Dollywood and surrounding attractions • Strong demand from hospitality workforce and relocating families
Knoxville SubMarkets-3
• Access to Pigeon Forge and Gatlinburg supports long-term housing demand • Positioning: Unique demand driver tied to tourism + family housing Strawberry Plains / Jefferson City –
• Rural, lower-cost land markets supporting entry-level price points • Spillover demand from Knoxville and Sevierville • Limited retail and employment base within immediate submarket
• Positioning: Expansion / affordability markets with volume potential
Submarket Overview • Located within ~45–50 minutes of Knoxville, positioning it as a natural extension of the Knoxville housing market
MorristownKnoxville Adjacent Growth Market
• Serves as a strategic midpoint between Knoxville and the TriCities, capturing demand from both directions • Increasingly recognized as a value alternative to higher-cost Knoxville submarkets Market Drivers
• Knoxville Spillover Demand Buyers priced out of core Knoxville markets are actively seeking more affordable options within commuting distance • Strong Affordability Advantage Significantly lower home prices relative to Knoxville allow for continued buyer demand and absorption • Growing Commuter & Workforce Base Residents commuting to Knoxville and surrounding employment centers support consistent housing demand
Market Overview
Tri-Cities – Growth Corridor / MigrationDriven Market
• The Tri-Cities region (Johnson City, Kingsport, Bristol) represents a fastgrowing, migration-driven housing market anchored by healthcare, education, and manufacturing • Washington County (Johnson City) has been one of the fastest-growing and most moved-to counties in Tennessee, driving regional demand • Lower cost of living combined with strong quality-of-life factors (mountains, lakes, outdoor recreation) continues to attract both relocation and move-up buyers Market Drivers
• National Migration Trends Northeast Tennessee has experienced sustained inbound migration from higher-cost markets, particularly post-remote work expansion • Employment & Economic Base Anchored by healthcare systems, education, and major employers like Eastman Chemical Company • Supply vs Demand Imbalance Limited move-up and premium inventory across the region continues to create opportunity for new construction
Johnson City – • Primary population and economic hub of the Tri-Cities and located in Washington County • Top-rated schools, strong healthcare presence, and anchored by East Tennessee State University
Tri-Cities Sub-Markets
• Gateway to outdoor recreation (mountains, lakes) and highest demand for residential housing • Positioning: Core demand driver with strongest pricing power and consistent absorption Jonesborough –
• Functions as a residential extension of Johnson City, with access to similar employment and amenities • Home to premium communities including The Ridges / Blackthorn Club • Historic downtown, strong residential appeal, and convenient interstate access • Positioning: Premium residential market with strong move-up and executive buyer demand
Bristol & Kingsport – • Anchored by major regional drivers including Eastman Chemical Company, Hard Rock Hotel & Casino Bristol, and Bristol Motor Speedway • Historically independent markets, now increasingly residential with demand tied to broader Tri-Cities employment
Tri-Cities SubMarkets- 2
• Retail and lifestyle activity has shifted toward Johnson City • Positioning: Secondary residential markets with stable demand and workforcedriven housing needs Greeneville • Strategically located between the Tri-Cities and Morristown, with access to both markets • Strong appeal for families and retirees seeking affordability and quieter living • More rural character with lower land costs and limited local commercial infrastructure • Positioning: Affordability-driven expansion market with spillover demand potential