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A new Employer Assistance Housing program is now available in our market thanks to a partnership recently formed by the Greater Chattanooga Association of Realtors (GCAR) and Chattanooga Neighborhood Enterprises (CNE).

There are numerous statistics which support the relationship between work force stability and home ownership and that is the driving force behind this program. Attracting, training and retaining employees can be costly, so retaining your existing workforce is a win for employers.

Since 2008, home owners have been staying in their homes longer than pre-recession trends, in fact 8-9 years is now the norm in many communities. In contrast, renters move on average every 18-24 months, according to David Butler, Executive Director for Chattanooga Habitat for Humanity. Stability at homes contributes to increase stability at work and improved grades for children.

Employer Assisted Housing (EAH) programs take a variety of paths and can be customized based on the employer’s resources. Some examples of EAH programs include: employer contributing the entire down payment which then is a forgivable second mortgage, employer contributing all or part of a down payment which is then repaid by the employee over a number of years, employer matching savings by employee with fund use being restricted to home down payment.

Members of the Greater Chattanooga Association of Realtors were trained earlier this year on the specific options and benefits surrounding the program and are now prepared to begin making presentations for local employers and institutions. A GCAR member and CNE representative would work with employer to construct the frame work of the plan and gain buy in from business principals. Once the plan is complete and budgeted, a roll out and training program would be designed working with the employer.
Although new to the Greater Chattanooga region, EAH programs have been in existence and proven to be successful around country for over 10 years. If you are interested in learning more, contact the GCAR office at 423-698-8001 to set up your personal company consultation.

The Greater Chattanooga Association of REALTORS is The Voice of Real Estate in Greater Chattanooga. The Association is a regional organization with more than 1,800 members and is one of more than 1,400 local boards and associations of Realtors nationwide that comprise the National Association of Realtors.
GCAR services Hamilton and Sequatchie counties in southeast Tennessee, and Catoosa, Dade and Walker counties in northwest Georgia. Go to for more information

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