Maryville, Tenn.-based Clayton Homes paid an undisclosed sum for Goodall Homes, which has its headquarters in Gallatin, TN.
Clayton Homes, the nation's largest manufactured housing and modular home company, made a big push into the site-built housing or traditional homebuilding market through acquiring Buford, Ga.-based homebuilder Chafin Communities last fall.
It formed site-building arm Clayton Properties to expand its portfolio of housing options to homebuyers. Now it appears that the next evolution is for manufactured and modular factories to begin buying up site builders and capturing their vacant building lots.
Is it possible that Clayton will continue to site build or will they begin changing Goodall Homes into a manufactured or modular home retailer with a ton of building lots?
Clayton Homes' latest acquisition includes 180 homes that Goodall has under construction. It also has inherited roughly 3,600 lots across Middle Tennessee, including Goodall's finished and yet-to-be developed home sites in Williamson, Wilson, Sumner, Rutherford and Davidson counties.
Goodall Homes' owner and President Bob Goodall Jr. said after declining overtures from other suitors over the years he accepted Clayton Homes' offer because the two companies' cultures matched well. Another factor was Clayton Homes' commitment to retaining Goodall and his team, who through the deal will have more opportunities for professional growth and advancement, he said.
Last year, Goodall Homes closed on 436 homes, ranking the homebuilder second in the Middle Tennessee market. Professional Builder magazine's 2014 National Builder of the Year expects to close on about 440 homes this year. Goodall Homes had revenues of just under $140 million last year, which was the highest among all homebuilders in Middle Tennessee.