The Preserve Resort is a large development located off Chamberlain Lane in the Wears Valley area. Access to the cabin development of 100+ cabins is easiest by taking Wears Valley Rd (Rt. 321 - Light #3 in Pigeon Forge) about 10 miles to Happy Hollow Road. Follow Happy Hollow Rd. to S. Clearfork and then Chamberlain Lane. The resort is near the top of the mountain and has spectacular views of both the Smoky Mountains and the valley below in Pigeon Forge.
The development was started around 2005 and prospered in the 2005 to early 2007 time frame when cabins were being built in great numbers within the development. The developer (and builder) was Legacy Homes (also the developer of Legacy Mountain Resort) out of Alabama. There are a wide variety of cabins, ranging from 1, 2, 3, 5, 8, 9, and 12 bedroom cabins available.
General Price Range
Prices within the development vary tremendously depending on whether it is a foreclosure, short sale, or regular sale. Originally prices ranged from $300,000 to the over a million for a 12 bedroom cabin. Currently foreclosures are ranging from about $170,000 for a 1 BR/2 BA cabin to as low as $265,000 for a 3 BR/3 BA cabin with good mountain views. The majority of the foreclosures and short sales are the 1 and 2 bedroom cabins that had been purchased at prices of $299k to $325k originally.
In early 2011, Wachovia (Wells Fargo) transferred 17 cabins to a private investment group at a very large discounted price. The investment group, then in turn sold the cabins to individual owners. Each of these properties was located on Lakeview Lodge in the upper part of The Preserve Resort above the wedding chapel. Prices to the individual cabin owners were still among (if not the) lowest prices ever sold in the development. Fully furnished cabins with excellent mountain views sold for anywhere from $145,000 to $190,000 for 1 bedroom cabins and a little higher for the larger two and three bedroom cabins. These cabins are the premier cabins in the entire resort with the best views. |
Positive Aspects |
Things To Look For |
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Great view from most cabins
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On site wedding chapel
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Community Pool
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Outdoor pavillion with fireplace
- Gym, spa, and sauna areas
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Luxurious interior with generally appealing construction and style.
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Great window walls to take in the views
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Close to the back entrance of the National Park at Metcalf Bottoms.
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Rental histories are strong for most cabins in comparison to the listing price (at least for the foreclosures/short sales). The wedding chapel tends to do well and help rental incomes as many wedding guests reserve cabins in the resort.
- Several floor plans and cabin sizes to choose from.
- Wears Valley is scenic and has a less tourism feel than Pigeon Forge/Gatlinburg (could be a detriment to some people?) but most view it as a positive.
Negative Aspects
- High rate of foreclosures/short sales
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The cabins are located in close proximity to each other, however in most circumstances once you are inside the cabin you don't notice the cabins to the side.
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Some cabins overlook other cabins rooftops, while others don't. Typically the properties on White Oak Ridge don't overlook other roofs, but are located lower in the resort and don't have as good of mountain views as cabins on Lake View Lodge Drive.
- Approximately 20 to 30 minute drive to the parkway in Pigeon Forge.
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Some people not used to driving mountainous roads may be timid driving to the resort once you turn onto Happy Hollow Rd.
Some of my Clients' Rental Cabins in The Preserve Resort
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Several cabins on White Oak Ridge need the exterior logs stained.
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Two cabins were completely destroyed in a fire with the adjacent cabin badly damaged. They have been completely rebuilt.
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Certain floor plan/models tend to rent better than others. Other determining factors include the view, proximity to the wedding chapel, amenities, etc.
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Some of the cabins have large water storage tanks underneath them that hold water for other cabins in The Preserve Resort that are on shared wells. I know of at least one (it is located on White Oak Ridge Lane) that has had trouble with the water storage tank. Thankfully, the problem was quickly taken care of, but could have been much worse.
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