But in the past year, owner Jim McMillan has had fewer families coming into his East Center Street office to apply for loans as the national and local economy took a dive. Some people wouldn't qualify for home loans anyway, and many of those who would are holding back on major purchases as they grapple with the uncertainty of their employment outlook and the economy.
Lee Davis, a fourth-generation owner at Davis Chevrolet, tells the same story. Like McMillan, he has seen a decline in customers at his dealership as people are holding onto their cars longer and putting off major purchases.
These stories are being played out all over Davidson County in banks, real estate offices and other places. The cyclical nature is dizzying at times. People are out of work, or afraid they might be soon, so they are buying less and qualifying for fewer major purchases. Businesses have fewer customers, so they are making less, purchasing less inventory and wondering if they might have to lay off employees to make it through this tough time. read more
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