How The Real Estate Market in Huntsville Alabama Survived The Economic Downturn

The best thing to say about Huntsville Alabama Real Estate Market is that it produces the fruits of the city’s economic diversity tree.

At the beginning of its history, Huntsville and the surrounding area flourished as a city of tobacconists, watercress and, of course, cotton textiles. These were until the 1940s and 1950s constants that gave the US Army the entry and construction of a chemical munitions factory (at 38,000 acres Arsenal Redstone) and the establishment of an ordinate rocket center under the leading German scientist Wernher von Braun. Currently there is a civilian workforce of nearly 14,000 people at Redstone Arsenal. This cooperation with the military as a government employee will be one of the economic foundations for the future of Huntsville.

Once the team is established, steady and steady progress will be made on the commercial side of rockets and aerospace, and this will evolve into a program and test of aviation, aerospace, and military missiles today. After all, though the commercial aspect is rapidly accelerated by government contracts. Today, there are many of these state-owned contractors in Huntsville and some have developed only under government contracts. This will be the second pillar.

Science, technology and biotechnology were a side effect of the main pioneers of the Redstone Arsenal. The Cummings Research Park (now 4,000 acres) was founded in 1962 as Huntsville Research Park. Companies like IBM, Northrup and Lockheed will soon fill this space surrounded by many smaller independent companies, including the newest Hudson Alpha Institute for Biotechnology Biotechnology Center. The science and technology of this company will be the third pillar.

The fourth pillar is pure economy. This is a strong sense of economic planning and growth planning. Over the years there has been a steady growth of urban and urban populations, resulting in a larger tax base and the steady growth of small jobs, making jobs available to the public. Huntsville has managed to support and realistically value its home values ​​so as not to increase the price bubble. It helps if there is an economic blow that these homes do not lose value like in a state like Florida. There is an uplift that allows home quotation prices to stay away from normal estimates, but with lower national employment rates, homeowners can continue to pay their mortgages and keep the value at nominal levels so that they are not under water. Economic cooperation between the city and the district has proved successful in overcoming the national financial storm.

The four areas of government / civil service, government contract, enterprise science and technology, and realistic economic planning have helped Huntsville survive in difficult times as other regions have experienced a decline in wealth.

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