March 2011 E-News Bulletin

March 2011 eBulletin
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Welcome to the Franklin Financial Network March 2011 eBulletin!

Dear Friends,
Over the last few months, I’ve mentioned how thankful we are to be operating a bank in Williamson County. While our community did not escape all of the effects of the “Great Recession”, our community is truly blessed with a business environment that has been conducive to growth and prosperity.
The economic numbers support our observation of the strength of the local economy. Economic vitality and job growth run parallel. Williamson County’s unemployment level is 6.5%, higher than three years ago but significantly better than the unemployment levels regionally and nationally. During this economic cycle, we have added jobs locally and there appear to be more jobs on the way.
Income levels in the county have remained impressive. Based on information from 2006-2008, the county’s median household income ranked 17th in the nation among the 3,141 counties in the US.
Our local government entities have shown fiscal responsibility. Williamson County, the City of Franklin, and the City of Brentwood all have been rated Aaa by Moody’s rating service.
In addition, our local real estate market has remained active. A quarterly study by the economic consulting firm Metrostudy indicates that home sales are outpacing home construction, leading to a declining inventory of new homes. At the end of 2010, the inventory of new homes in Williamson County was less than nine months. The Williamson County Association of Realtors reports that the average price of homes sold in Williamson County has climbed to $444,000 from a low of $411,000 in 2008.
Why have we been so fortunate? Obviously, there are many factors, including our commitment to education, the leadership of our business and government entities, a simultaneous focus on both historic preservation and economic growth, and a conservative business environment. We owe a debt of gratitude to those who have created this environment.
The future looks bright for our community and our bank. There is every reason to believe that better times are ahead of our local community, although we cannot ignore national economic trends. Our challenge is to learn from our experiences and to continue to be good stewards of our many blessings.
Franklin Synergy can help you with your financial planning needs. Our bankers are experienced and understand your borrowing and deposit needs. Now is the time to plan for the future. Please call one of bankers and give us the opportunity to share with you our perspectives and our expertise.
Thank you for your continued support and patronage.
Richard Herrington

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