Wednesday, June 2, 2010

Alan Jackson's home sells for $28M

The three-story white colonial home with gilt ceilings and a 20-car garage that Alan Jackson and his wife, Denise, built on an old horse farm they bought in 1993 has sold for a record $28 million.
Even at $10 million less than the original asking price, the purchase of the Franklin spread is the single biggest residential sale in the greater Nashville area since at least 1997, when area Realtors started keeping comprehensive property records.

The $28 million total dwarfs the $11.4 million sales price of singer Tanya Tucker's 500-acre Williamson County home, which was the previous high for a residential sale in 2007, according to Lucy Smith, president of the Greater Nashville Association of Realtors.

The buyer of record is the Willis J. and Reba J. Johnson Revocable Trust.

RelatedAlan Jackson's home

Willis Johnson is founder and chairman of publicly traded Copart, Inc., a Fairfield, Calif., auto salvage firm that specializes in online car sales.

Johnson resigned as CEO of the company in February, but continues to serve as its chairman.

Jackson's Franklin home, which was on the market for 11 months, includes more than 17,000 square feet of living space in the property's main six-bedroom home, a 20-car garage, a log cabin and barn with a two-bedroom apartment, a boathouse and a stocked and aerated lake.

It originally was listed for $38 million. The Realtor of record is Nashville-based French Christian Patterson.

The property sits on 135 acres on scenic Moran Road, which is lined by large, high-end residences with acreage and livestock.

Neighbors Robert and Charlene Ring, who live across the street from Jackson's home, said he has been a good neighbor but also a very private person. Still, that hasn't stopped tour buses from making regular passes through the neighborhood.

"Generally speaking, they pull over," Charlene Ring said. "We do see people stopping to look in. For that matter, they sometimes come onto our property."

Robert Ring, whose family has owned land on Moran Road for eight generations, said the $28 million sale could raise the value of neighboring properties. ranked Alan Jackson ninth among the nation's top earning country music stars, estimating his 2009-2010 income at $12 million. Neither a representative for Jackson nor the Johnsons could be reached for comment.

Contact music business writer Anita Wadhwani at 615-259-8092 or
Staff writers Mitch Kline and Bonnie Burch contributed to this story. Offers Quality, Timely Education for Real Estate Agents, BrokersCounty details tax breaks for new corporate office