Pigeon Forge/Gaitlinburg positive things?

Question

Dollywood has been named the number one amusement park in the USA by Trip Advisor!

Hopefully it will help drive more traffic to the area!

https://people.com/dollywood-ranked-best-theme-park-above-di...

Collin Hays · Answer

I think recent real estate investors in the Smokies are in real trouble. Significant downside risk.

Ken Boone · Answer

I really don't think the Dollywood rating is going to have much impact on the current situation. I will not be investing in new properties in the Smokies until things correct a bunch. There are a lot of people under water right now that want to sell, but they are still in that mental game of I can't lose money on the sale and therefore they have their properties over priced. Once it hurts enough, their prices will have to drop. It is hard to for an investor to cash flow at the current asking prices on most properties. I think the main people that are buying are those that truly want a vacation home and they don't need to cash flow and completely happy with having others help pay down their debt service. A few years back I saw an analysis where prior to 2017, only 10% of rentals were owned by investors, by 2020 it was at 40%. In 2020 you were also seeing institutional investors jumping in to the market as well. I think the pendulum will be swinging back in the other direction for awhile.

John Underwood · Answer

I have been to Dollywood, Universal and and Disney all recently.

I personally would rate Dollywood way below the other 2.

Last time is was there was less than 6 months ago and I said never again.

But if people like it and it helps rent my cabin more, then great!

Dina Schmid · Answer

Dollywood is enjoying her moment in the social media spotlight with some big YT and TT creators visiting recently. It's how I became aware of the $229 25lb applie pie. I expect this will drive some younger people to visit.

Andrew Steffens · Answer

@Collin Hays what do you think?

Pigeon Forge/Gaitlinburg positive things?

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