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New Theme Amusement Park in Nashville Area-Spring Hill called Festival Tennessee

by Brian Copeland on March 2, 2011

I have to admit, I’m actually the one who is so excited about this announcement.  What is the family-based amusement theme park coming to the Middle Tennessee area?  All morning, I’ve been taking guesses about which Florida-based amusement/theme park company would be developing the 700 acre tract on Jim Warren Road in Spring Hill, Tennessee, a suburb of Nashville located 30 miles south of downtown. (Disclaimer:  I have no affiliation with Festival Tennessee.  I’m a licensed real estate agent in Tennessee #298334 with Village Real Estate, (615) 369-3278)

Related articles:

Jim Warren Road is just south of the Cool Springs/Franklin area off Interstate 65 in Spring Hill.

My Facebook status question I placed out this morning brought all kinds of responses from Disneyworld to Busch Gardens and Sea World to a big water park to Universal Studios Islands of Adventures. In the end however, the actual park coming according to the press conference is…

FESTIVAL TENNESSEE

The builder of Disney and Universal is heading it up, iTech out of Orlando

  • 10,000 to 15,000 jobs
  • Two Resort Hotels with thousands of rooms
  • 80 clubs and restaurants
  • Water Park
  • Charter Schools
  • Lots of rides including a five story Niagra Falls ride
  • Movie studios
  • $10s of millions of dollars of tax each year
  • $400-$800 million of park revenue
  • Soft opening on Thanksgiving 2012
  • iTech

The developer made it clear.  This is not Disney or any other company like a Busch Gardens.  It is its own entity and they have three other parks in the works.

Not the real site, but a photoshop job of what I was thinking.

From a housing perspective, one WSMV Facebook commenter weighed in saying, “While we do have a great demand for a theme park in the Middle TN area, I believe there is land available that doesn’t have homes built already. I don’t live anywhere near this area, but from a planning perspective, it is not wise to build near homes. I am for a theme park in Middle TN. Our entire family used to attend weekly when we had one. It should have never been replaced by a mall.”

While traffic congestion remains a huge issue in this area, housing in the Spring Hill market could be affected.  Compared to other areas in cities with theme parks where the central focus isn’t the “amusement world,” value typically run lower.  Case and point:  Six Flags Over Georgia (Atlanta area), Six Flags Magic Mountain (Los Angeles area), Cedar Point (Cleveland area), Six Flags St. Louis.  Markets show that home buyers do not want to live by the noise, congestion and traffic of an amusement park.  The wild card, here, in my opinion is the high desirability of this area.  Franklin and Brentwood, just north boast some of the highest home prices in the state.  Spring Hill is a huge draw for people who don’t want to pay the price tag just north.

The map below shows a quick snapshot of the housing in the immediate area.

Home values in the mapped zone range from $125,000 to $437,000 along Jim Warren Road just off of I-65 in Spring Hill, Tennessee. Click image to double its size.

Additionally, here’s a photo from the WSMV story on the land.

Plan includes two resort hotels, a studio and a 5 story Niagra Falls ride.

Check back for information of Festival Tennessee

FestivalTennessee.org
FestivalTennessee.net
FestivalTennessee.info
FestivalTennessee.biz
FestivalTennessee.mobi
FestivalTennessee.us

3 comments
realestatehunter
realestatehunter

I live 1/2 mile down the road from the "false theme park"
As of March 4, no one is talking about the SCAM!!
Gooober

BRAD
BRAD

Stay out of spring hill or move somewhere else. All you are going to do is lower my house value and bring trashy people and crime to your town. Go away

Todd Wiggins
Todd Wiggins

I really like the idea of another major employer for Spring Hill. Economic recovery is heavily dependent on jobs, jobs and more jobs. I don't see this hurting values but rather helping to stabilize them.

As a father of three young children I welcome a nearby source of family entertainment. Can't wait to hear more.

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