Justin Timberlake has just cashed in on runaway home price growth in Nashville, Tennessee, parting with an almost 127-acre swath of land on the outskirts of town.
Timberlake, 43, said “Bye Bye Bye” to the property at the end of May, selling it for $8 million. While that’s less than the $10 million asking price he’d attached to it when it listed last summer, it’s still twice as much as the $4 million he acquired it for in 2015, records show. The deal closed a couple of weeks before the singer’s DWI arrest in the Hamptons.
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Multimillion-dollar home sales have been booming in the Nashville metro in recent years, driven by an influx of transplants from cities like Los Angeles. The median sale price of a luxury home around Nashville was nearly $1.7 million in the first quarter of this year, an annual increase of more than 8%, according to the latest figures from Redfin.
The former ‘N Sync star and Tennessee native used a trust for the purchase, with an accountant—who is also tied to other Timberlake ventures—listed as trustee. The trustee didn’t respond to a request for comment. The new owner is listed in records as a limited liability company.
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The parcel, which is reportedly protected against development, is on the outskirts of the village of Leiper’s Fork, where Timberlake has reportedly been involved in a number of local events and businesses over the years, including the Pilgrimage Music and Cultural Festival.
Spanning 126.63 acres, the land is home to a spring fed fishing pond, miles of trails, pastures, spring creeks and hunting opportunities, according to the listing with Tom Sullivan of Covey Rise Properties, who did not respond to a request for comment.
Timberlake bought the property from a local philanthropist and preservationist who told the Tennessean in 2017 that, “both of us share that love of Tennessee and enjoyed how we grew up, on land.”
A representative for Timberlake couldn’t be reached for comment.
The U.S. Sun first reported the news.
