Officials with Pilkerton Realtors, Parks Realty and Village Real Estate announced Thursday a merger.
Terms of the agreement — which creates an overall entity with 1,400 agents and $6.5 billion in annual sales volume — are not being disclosed. According to a release, the firm’s combined market share in Middle Tennessee will equal about 15 percent, nearly twice as much as the percentage figure of any area competitor in the sector.
The merger comes one year after the January 2021 announcement that Parks and Village finalized what had been a long-planned union (read here). That announcement was made almost 12 months to the day after the two entities said they would merge — with that early 2020 effort soon thereafter being shelved due to the coronavirus pandemic.
According to the release, Pilkerton, Parks and Village will operate with their respective brands via an LLC that will serve as the parent company. The combination creates what is billed as Tennessee’s largest residential real estate brokerage.
Hunter Connelly, who serves as CEO of the combined company, said Pilkerton, Parks and Village "share a culture and core values that are attractive" to local real estate agents. He said the partnership will enable the combined firm to invest in best-in-class staff, tools, training, and processes.
Marie Parks serves as president of Parks, with Zach Goodyear president of Village. Jim Terrell continues as Pilkerton managing partner. Bob Parks remains as chairman of Parks.
“We’re joining Village and Parks to collaborate and share resources, tools and locations,” Terrell said in the release. “Partnering with a local group who I’ve known for many years allows our vision for Pilkerton to continue.”
Mark Deutschmann founded Village and sold a major percentage of his ownership in the business in January 2019. Deutschmann continues to serve as chairman emeritus and as leader of Village's City Living Group sales and marketing team.
Founded in 1969, Pilkerton is home to 180 real estate agents whose 2021 production totaled more than $900 million in sales volume.
Parks and Village recorded $5.4 billion in sales volume and completed 11,750 transactions in 2021.
Parks, Pilkerton and Village maintain offices in Green Hills, West Nashville, East Nashville, The Gulch, Franklin, Brentwood, Cool Springs, Mt. Juliet, Smyrna, Murfreesboro, Shelbyville and Hendersonville.