In this issue
- 2021 Legislative Report
- Fall meeting in Nashville
- Houzz Pro – member benefit
- Sales tax holiday reminder
- State tax revenues are booming
- Industry news items
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Home Builders Association of Tennessee
End of Session Report 2021
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Have you have ever asked, why am I required by the government to do something that doesn’t make sense? The answer to that question is typically because a legislative body passed a new law or ordinance, that they thought was a good idea.
This is why your state association exists. We are your voice at the state level, working to stop bad ideas in the Legislature before they become reality and hurt your business. Your association fights best when you lend your expertise to help educate local elected officials on building issues and forge relationships with them.
Our end of session report is written to give you the flavor of the past legislative session with insights on how Tennessee’s legislators view builders and the home building industry. Includes detailed coverage of legislation your association worked to pass, amend (fix) or defeat. Topics include proposals and new laws on
- blasting, codes, contractor requirements, employer mandates & labor law, environmental Issues, fees. government powers, housing, property & zoning, tax policy, utilities, warranties, workforce, and workers compensation.
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Download and print a copy, now. We don’t expect you to read it all today. Save the printed copy, so you can find valuable information or know who to call, when you hear about a law impacting construction has recently changed.
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Join Builders & Associates in Nashville
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The Home Builders Association of Tennessee is excited to welcome you to Nashville October 31, 2021 – November 2, 2021. Join fellow industry professionals for the Fall Annual Meeting of the Membership & a Hall of Fame Dinner celebrating 2020 & 2021 Award Recipients.
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Do you use Houzz?
We have noticed many of our members do… We see the Houzz logo and other social networking logos, when we check out your websites.
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Houzz and the NAHB have formed a strategic alliance to provide benefits for NAHB Members including personalized support and special discounts on local advertising and Houzz Shop.
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Are the right people in your company getting these messages?
TN Homebuilders would be excited to add more of your team members to our weekly distribution. If you want to add a co-worker, reply to this link CSchneider@hbat.org – be sure in include your teammate’s Full Name and Email address.
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Date for 2021 Sales Tax Holidays
Speaking savings, Tennessee is offering three different tax free holidays this year.
July 30th – August 1st: Back to School: clothing, school supplies and computers
July 30th – August 5th: Groceries: food, food ingredients and prepared food
Now – June, 30 2022: Firearm Safety: gun safes and safety devices
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State tax revenues continue to exceed projections
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(Associated Press) — Tennessee officials say state tax revenues continued to exceed projections in the latest monthly report.
The Tennessee Department of Finance and Administration says that revenues for June were $1.9 billion, which is $372.3 million more than the budgeted monthly revenue estimate and $321.1 million more than June 2020.
That represents a growth rate year-over-year of 20.9%. The revenues also represent a monthly growth rate of 18.6% compared to June 2019, before the COVID-19 pandemic. The revenues reflect taxable sales activity from the month of May. Full Press Release
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U.S. homebuilders are happy with buyer demand, but higher construction costs are starting to eat away at their confidence.
As the price declines began grabbing headlines, the price of lumber packages quoted to builders held at record highs
Media coverage has closely tracked falling commodity prices for lumber. However, real world building estimates also include plywood, oriented strand board (OSB), particleboard, fiberboard, shakes and shingles. Prices of these other lumber products have not declined. In fact, since April 2020, the price of softwood plywood has increased by more than 200%, and the price of OSB has gone up by nearly 500%.
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“Builders can’t build [houses] fast enough, and they can’t get enough labor to put them together.”. Adding to the labor shortage, the high price of lumber a couple of months ago put the brakes on new home building.
A National Association of Realtors report examined the impact that decades of underbuilding. “The housing stock around the nation has been widely neglected, with a severe lack of new construction and prolonged underinvestment leading to an acute shortage of available housing, an ever-worsening affordability crisis and an existing housing stock that is aging and increasingly in need of repair – all to the detriment of the health of the public and the economy,” the report said.
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Get Paid Back with Rebates Available to HBA Members
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Home Builders preach the benefits of doing business with a member. We want you to do business with like-minded people who support our industry. We also encourage you to take advantage of savings by participating in Rebate Programs.
Builders and Remodelers, if you’re not participating in this rebate program, you’re leaving money on the table. Register and claim your rebates www.HBATrebates.com
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NAHB has Additional Savings Programs for Business Savvy Members
Whether it’s a discount on a product or service or a more efficient way to operate, the smart business person is always looking at ways to cut costs and maximize returns.
Through agreements with more than 20 national companies, NAHB offers exclusive discounts on a variety of products and services that can benefit your business, employees and family.
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