Peterbilt Permanently Closing Middle Tennessee Plant

By
Real Estate Broker with Reliant Realty - Nashville Short Sale & Foreclosure Help TN RE Lic # 320030
According to this Nashville Business Journal article, Peterbilt permanently closing Tennessee plant, effective 12/1/2009 Peterbilt Motors Co., the well known truck manufacturer, will shutter the Madison Tennessee (located in Davidson County TN northwest of Nashville TN) plant. According to the article, "The Madison plant had not built trucks since July 2008, when the company and the United Auto Workers Local 1832 were unable to agree on a new contract. But company officials said the decision to shutter — and eventually close — the plant was a result of falling demand for the heavy-duty trucks, not because of labor issues." The article quotes Bill Jackson, Peterbilt General Manager, as saying "This was a difficult, but necessary decision. The current and projected market conditions are very challenging and Peterbilt is aligning its production capacity with market demand. Peterbilt is proud to have been a member of the greater Nashville community for 40 years and we thank our employees for their excellent contribution." According to the article, all of the company's truck manufacturing will move to Peterbilt's other plant in Denton, Texas. The article states "The 2,000-worker facility, which does not have union representation, announced layoffs there in January, though the company didn’t specify how many jobs were impacted, saying only that it was a small number. At the Nashville plant, 313 workers were laid off in June 2008 when the contract expired, according to the Tennessee Department of Labor." While Peterbilt officials said that the Madison TN plant closing was a result of market conditions, not union/labor issues, I have to believe that the union was a major factor in the plant closing. The fact is that unions cause companies to earn less and to layoff workers in order to remain competitive. In this case the union caused the loss of at lease a large percentage of the 313 lost jobs. Given that 25% of homeowners have no savings to cover their living expenses if they were to lose their jobs (see my previous blog post Too Many Homeowers Have No Savings) I think it is reasonable to conclude that more job losses will cause more short sales and foreclosures in Middle Tennessee as a large percentage of unemployed people in Middle TN cannot pay their mortgages even for a short period of time due to a lack of savings.
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Jim McCormack
Broker, REALTOR, e-PRO
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Reliant Realty
256 Seaboard Ln
Ste E-105
Franklin, TN 37067

TN Real Estate Broker
License# 320030


Direct (615) 796-6898 - PREFERRED
Office (615) 859-7150

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Short Sale, Foreclosure, Distressed Real Estate and Investment Property Real Estate Service Areas in Middle Tennessee:
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Topic:
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Tags:
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madison tn
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plant closing
short sales
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STOP FORECLOSURE IN NASHVILLE TENNESSEE, BRENTWOOD TENNESSEE, FRANKLIN TENNESSEE, NOLENSVILLE TENNESSEE, SPRING HILL TENNESSEE, THOMPSON'S STATION TENNESSEE, MURFREESBORO TENNESSEE, SMYRNA TENNESSEE, LA VERGNE TENNESSEE, ANTIOCH TENNESSEE, COLUMBIA TENNESSEE, MT. JULIET TENNESSEE, SPRINGFIELD TENNESSEE, GALLATIN TENNESSEE, HERMITAGE TENNESSEE, HENDERSONVILLE TENNESSEE AND MIDDLE TENNESSEE - Attention Nashville, Brentwood, Franklin, Nolensville, Spring Hill, Thompson’s Station, Murfreesboro, Smyrna, LaVergne (La Vergne), Antioch, Columbia, Mt. Juliet (Mount Juliet), Springfield, Gallatin, Hermitage, Hendersonville and Middle Tennessee Homeowners, Property Owners, Condo Owners, Real Estate Investors, Commercial Real Estate Owners, Home Builders and Real Estate Developers - Get Expert Help and Assistance from a Nashville, Brentwood, Franklin, Nolensville, Spring Hill, Thompson's Station, Murfreesboro, Smyrna, LaVergne, Antioch, Columbia, Mt. Juliet, Springfield, Gallatin, Hermitage, Hendersonville and Middle TN Distressed Real Estate, Short Sale, Pre-foreclosure and Foreclosure REALTOR, Real Estate Expert & Real Estate Investor - Get Nashville, Brentwood, Franklin, Nolensville, Spring Hill, Thompson's Station, Murfreesboro, Smyrna, LaVergne, Antioch, Columbia, Mt. Juliet, Springfield, Gallatin, Hermitage, Hendersonville and Middle Tennessee Foreclosure Help, Pre-foreclosure Help, Short Sale Help and Loan Modification Help.


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Jim McCormack is a Member of the ActiveRain Real Estate Community Who Helps Sellers in Davidson County, Williamson County, Rutherford County, Maury County, Sumner County, Wilson County and Robertson County Tennessee. Jim serves Nashville, Brentwood, Franklin, Nolensville, Spring Hill, Thompsons Station, Murfreesboro, Smyrna, LaVergne (La Vergne), Columbia, Mt. Juliet (Mount Juliet), Springfield, Gallatin, Hermitage, Hendersonville and other real estate markets in and around Nashville Who Can't Pay Their Mortgages, are in Foreclosure, or Need Assistance with Short Sales and Foreclosure. Jim is also a real estate investor who makes quick offers to stop foreclosures


Nashville, Brentwood, Franklin, Nolensville, Spring Hill, Thompson’s Station, Murfreesboro, Smyrna, LaVergne (La Vergne), Antioch, Columbia, Mt. Juliet (Mount Juliet), Springfield, Gallatin, Hermitage, Hendersonville and Middle Tennessee Short Sales, Foreclosures, Short Sale Help and Foreclosure Help.
Jim McCormack is a Member of the Trulia Real Estate Community Who Specializes in Short Sales and Foreclosures in the Nashville Tennessee and Middle Tennessee Area(Davidson County, Williamson County, Rutherford County, Maury County, Sumner County, Wilson County, Robertson County, Nashville, Brentwood, Franklin, Nolensville, Spring Hill, Thompsons Station, Murfreesboro, Smyrna, LaVergne (La Vergne), Columbia, Mt. Juliet (Mount Juliet), Springfield, Gallatin, Hermitage and Hendersonville).


Nashville, Brentwood, Franklin, Nolensville, Spring Hill, Thompson’s Station, Murfreesboro, Smyrna, LaVergne (La Vergne), Antioch, Columbia, Mt. Juliet (Mount Juliet), Springfield, Gallatin, Hermitage, Hendersonville and Middle Tennessee Short Sales, Foreclosures, Short Sale Help and Foreclosure Help.
Nashville, Brentwood, Franklin, Nolensville, Spring Hill, Thompson’s Station, Murfreesboro, Smyrna, LaVergne (La Vergne), Antioch, Columbia, Mt. Juliet (Mount Juliet), Springfield, Gallatin, Hermitage, Hendersonville and Middle Tennessee Short Sales, Foreclosures, Short Sale Help and Foreclosure Help.
Jim McCormack is a Member of the Zillow Real Estate Community Who Specializes in Short Sales and Foreclosures in the Nashville Tennessee and Middle Tennessee Area (Davidson County, Williamson County, Rutherford County, Maury County, Sumner County, Wilson County, Robertson County, Nashville, Brentwood, Franklin, Nolensville, Spring Hill, Thompsons Station, Murfreesboro, Smyrna, LaVergne (La Vergne), Columbia, Mt. Juliet (Mount Juliet), Springfield, Gallatin, Hermitage and Hendersonville).



Nashville, Brentwood, Franklin, Nolensville, Spring Hill, Thompson’s Station, Murfreesboro, Smyrna, LaVergne (La Vergne), Antioch, Columbia, Mt. Juliet (Mount Juliet), Springfield, Gallatin, Hermitage, Hendersonville and Middle Tennessee Short Sales, Foreclosures, Short Sale Help and Foreclosure Help.
Nashville, Brentwood, Franklin, Nolensville, Spring Hill, Thompson’s Station, Murfreesboro, Smyrna, LaVergne (La Vergne), Antioch, Columbia, Mt. Juliet (Mount Juliet), Springfield, Gallatin, Hermitage, Hendersonville and Middle Tennessee Short Sales, Foreclosures, Short Sale Help and Foreclosure Help from a Nashville Real Estate Expert