Country star's palace sells for $28M

Okay, so $38 million was shooting a little high.

It's a little hard to price homes like country superstar Alan Jackson's spread on Moran Road in Williamson County. Not many comparable properties are out there, offering 18,600 square feet of living space, a 20-car garage, a gymnasium and a pair of two-bedroom guesthouses.

After 11 months on the market, the Jackson place sold last week for $28 million. The buyer is a trust in the names of Willis and Reba Johnson.

Willis Johnson is the founder and chairman of publicly traded Copart Inc., a Fairfield, Calif. company that auctions off wrecked cars for insurance companies and other institutions. He resigned as CEO of the company in February. Corporate filings indicate Johnson's 11.4 percent stake in Copart is worth roughly $340 million.

It is not immediately apparent what would bring the Johnsons to town. They also own a 79-acre vineyard in Suisun Valley, between San Francisco and Sacramento, that has a tax-appraised value of about $8.9 million.

Alan Jackson and wife Denise attracted much attention when they listed the home they have shared since the mid-1990s for $38 million late last June. The ultimate sale price of $28 million is more than double the highest figure any single-family residential parcel in Middle Tennessee is known to have sold for in recent memory. Dot-com billionaire Todd Wagner bought a large tract in northern Williamson County for $11.5 million in 2007, and weeks later, singer Tanya Tucker sold her 22,600-square-foot house on 500 acres in Arrington for the same amount.

The agents of record on the sale are Rick French and Dana Battaglia of Nashville's French Christianson Patterson agency. French could not be reached today for comment.

The Johnsons were not the only executive buyers from California to put down roots in the Nashville area last week. As reported at Post Business earlier today, the second-in-command of insurer Jackson National Life Insurance Co. bought a $4 million horse farm in Leiper's Fork on May 26, just after announcing the company's plans to locate a 400-employee regional headquarters in Cool Springs.

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