I originally purchased the property in October of 1990, because of its unique characteristics and potential value. Over the years, many ideas for development have surfaced, been considered and later discounted, only to have them undergo metamorphoses and resurface in a refined format. Some of the values of this large 237.93-acre tract as compared to any others are (1) location, (2) mineral rights with known mineral deposits in natural gas and oil, (3) biological diversity with some very unique species of environmental concern, (4) the intrinsic values of it being the winter hunting ground for the Native American Indians dating back 10,000 years to the Paleolithic Period and having a Civil War battle fought on the property, (5) the natural beauty that mother nature bestowed on the 44 acres of pasture and 193.93 acres of hardwood trees creating breathtaking Buffalo Cove.
The following information will help one understand the developmental potential with the possibility of creating a wildlife preserve, research/educational center; lodge and/or other uses.
LOCATION:The farm is located on the Upper Cumberland Plateau in historic Buffalo Cove, five miles southwest of Jamestown, Tennessee. It is centralized between Nashville, Knoxville, Chattanooga and Southern Kentucky, thirty miles north of Crossville, TN and the Fairfield Glade Resort. The Big South Fork National River and Recreation Area is located eleven miles to the east; Big South Fork’s popularity has increased tenfold since 1990. It offers a more rustic natural outdoor experience than the Great Smoky Mountains National Park. Pickett State Park is located fifteen miles north of the property, while Historic Rugby, TN lies twenty miles to the southeast. The Jamestown Airport, located five miles from the cove, is 1694 feet above sea level. Buffalo Cove Creek, which flows through the property, is 820 feet above sea level. The 874-foot descent into the cove is magnificent. The shape of Buffalo Cove reminds one of a U-shaped football stadium with the opening to the west.
According to Tennessee State Archeologist, Joe Benthal, the property was the winter hunting ground of the Native American Indians all the way back to the Paleolithic Period (10,000 years ago). The Cherokee Nation was the last tribe to inhabit the area before being displaced on the Trail of Tears to Oklahoma. During the Civil War, a battle was fought on the farm. The battle is recorded in the Jamestown Library as The Tale of Two Hats. The folklore abounds from the Civil War to the present with notable people such as Mark Twain, World War I Congressional Medal of Honor Recipient, Sergeant Alvin C. York and Secretary of State Cordell Hull, all closely associated with the area.
During the 1980's, Roger Solomon developed a successful German restaurant called Beggar's Castle on the property. . There are six caves, four springs, a well, five cabins, a large barn, smokehouse, meat locker and storage building that supported the operation of Beggar’s Castle. During the restaurant’s heyday, it hosted musical gatherings, square dancing and outdoor BBQ’s. The former restaurant building boasts hand-cut stone flooring, heavy timbers, thick stone walls, tongue & groove woodwork and more. Due to Solomon’s failing health and two divorces, he left the property to return to France.
THE PROPERTY:The approximately 237.93 acres is roughly divided into 193.93 acres of hardwood trees and 44 acres of pasture. The pastures are fenced and cross-fenced and composed of fescue, clover, and timothy. The fields have a small amount of native warm season grasses growing in them. Award wining biologist, Dick Conley, of the Tennessee Wildlife Resources Agency in Crossville, TN (931-484-9571), has surveyed the property. He has encouraged further development of the warm season grasses through a conservation program that they offer. (See section on “Potential Preservation uses.”)
Three springs on the north slope and one spring on the south slope flow into Buffalo Cove Creek. The land is rich in natural resources. The property sits atop a natural gas dome. Coal, timber, hay and oil are additional resources. There is also a well on the southwest side of the property. Water systems in the restaurant building include both ultra-violet and chlorine water purification units. A city water line exists at Buffalo Cove Lane and Glenobey Rd. Five cabins of various sizes exist on the property, as well as the old stone restaurant, barn and more outbuildings.
BIOLOGICAL DIVERSITY:
According to Tennessee’s State Wildlife Action Plan (2005) published by TWRA, the property serves as a “very high” priority habitat for native terrestrial species. The most recent biological discovery is the Rafinesquii Big Ear Bat. The Bat was discovered and identified by Kristen Bobo (931-525-6565) and then verified by renowned biologist, Dr. Mick Harvey (retired) from Tennessee Technological University. The Bat is on the federal species of environmental concern list. However, according to Mary Kay Clark, renowned biologist at the Museum of Natural Sciences in Raleigh, North Carolina, it should be on the federal endangered species list. Ms. Clark has devoted the last 25 years of her life to researching bats, with special emphasis on this species. She and her team donated six weeks of their lives over the last three years netting and tagging bats on the farm. One of the unique and very rare situations of Buffalo Cove is that both the winter hibernacula and maternal colonies of the Big Ear Bat are located on the same property.
Other identified species of environmental concern in this diverse area are the Smokey Shrew, Golden Eagle, Blind Albino Cray Fish and a rare type of clover. Dr. David Etnier, the biologist at the University of Tennessee, famous for his discovery of the Snail Darter, has surveyed the property. His hope is that this property can remain protected, for the obvious reasons, and also be developed as a research area for the University of Tennessee and numerous other universities and colleges in the Nashville, Knoxville, Chattanooga and Southern Kentucky areas. Additionally, the acreage provides habitat for deer, wild turkey, grouse, doves, quail, wild hogs, and “Yogi,” the black bear. Undisturbed for years, these creatures roam freely in a near wildlife sanctuary state. I am hoping that a biological investigation can begin in the spring of 2011. Different biologists have suggested that many unknown species are probably waiting to be identified in Buffalo Cove.
RESEARCH AND EDUCATION:During the summer of 2005, the eleven heads of the University of Tennessee’s Biology Department took a field trip to the farm. They were like kids in a candy store! The University of Tennessee has research centers in Highlands, North Carolina and Treemont in the Smokies, but nothing on the Cumberland Plateau. One of the problems at land grant universities, between agriculture and biology departments, is that agriculture trumps everything. Many biologists at the University of Tennessee have had their research interrupted by agriculture having different agendas with the same piece of property. Buffalo Cove could be devoted to biologists.
The American Cave Conservation Association (A.C.C.A.) located in Horse Cave, Kentucky, has been helpful in the preservation of the caves on the property. They donate labor in exchange for the opportunity to explore the caves. They have located all of the caves on the farm and logged the locations by GPS coordinates. They A.C.C.A. has used the farm as an educational training lab for their members. Caving and geology normally go hand in hand.
POTENTIAL PRESERVATION USES:Robert (Bob) M. Hatcher, retired from Fish and Wildlife, was contacted after the discovery of the bats. Mr. Hatcher proposed the concept of Eco-Tourism. One of the problems with preserving large acreage tracts is a constant outflow of money and very little, if any, inflow of money. A combination of preservation and eco-tourism should resolve this problem. Through the years, plans have been developed that interweave the different assets of this farm into a synergistic and successful operation:
A) Conservation Easement: On September 4, 2009, 204.43 of the 237.93 acres were placed in a conservation easement. The easement was conveyed to: The Land Trust For Tennessee, 209 10th Avenue South Suite 530, Nashville, TN, 37203 (615-244-5263). Chris Roberts, Emily Burnett Parish, and myself “Hammered Out” a plan assuring that under the perpetual stewardship of The Land Trust: the Forest, Open Space, Watershed Protection, Wildlife Habitat, Scenic and Cultural Values of Buffalo Cove will be conserved, maintained and protected for all time. The Land Trust is obligated to prevent uses of the property that are inconsistent with these conservation purposes.
The Land Trust Alliance and Land Trusts throughout the country are working with Congress in an effort to pass renewed or permanent tax incentives for donated conservation easements. To benefit from the more favorable incentives which expired December 31, 2009, I executed the conservation easement. This leaves 33.5 acres for unlimited development.
B) Establish Warm Season Grass Habitat: Around 1830, the British introduced Fescue to the United States Farmers. Fescue is a “carpet” or thicker interwoven grass than the native “clump” type grasses, and is a dominant species. Re-establishing the native habitat will increase the dove, quail, grouse, wild turkey, and other bird populations. All species will benefit from the increased cover and camouflage provided by the native grasses. T.W.R.A. will provide herbicides, sprayer, and seed to transition the fields. They also provide a small amount of money yearly to maintain the habitat.C) Forest Management Program: The Land Trust for Tennessee will provide a continuing forest management program as part of their responsibility for the conservation easement. Managing the forests is very important due to the length of time it takes to grow a mature tree. There is great income value in the trees as lumber and wood products and also a greater value to the bats and other species for habitat. If one includes the esthetic value of the trees, the management of the forests requires a detailed plan and attentive execution to balance the important resource.
ECO-TOURISM:With over 300,000 pilots receiving the Airplane Owner And Pilots Association (AOPA) monthly, and, the Jamestown Airport just five miles from the property, a four page article in the AOPA Magazine and monthly advertising in Trade-In-Plane, not to mention Southern Living, would keep a steady flow of people coming to the farm. Other airports include the local Crossville airport, just 35 minutes away, and, the major Knoxville, Nashville, and Chattanooga airports all within 90 minutes drive time.
STATE CONSERVANCY PLANS:Morgan Simmons, a reporter for the Knoxville News Sentinel (865-342-6321), (simmonsm@knew.com), wrote an article on Sunday, February 13, 2005, detailing the impact of the Tennessee Department of Conservation’s grant (TDEC). Mr. Simmons quotes Betsey Child, TDEC Commissioner, saying, “The Cumberland Plateau is a biologically, ecologically and culturally significant area that faces critical environmental issues. Now is the time to protect the land, air, and water in this area through conservation and sustainable development practices.”
In February 2005, Governor Phil Bredesen announced plans for $10 million in state funding to be appropriated to encourage federal and private investments toward job creation and environmental protection statewide. The Cumberland Plateau already has been targeted in the 2003-2008 Tennessee State Recreation Plan as one of four recreation development corridors throughout the State. In addition, the Tennessee Department of Environment and Conservation has just received a $31,500 federal grant to study the Cumberland Plateau as a potential National Heritage Corridor. TDEC, TWRA and the Tennessee Department of Transportation have provided matching funds for the federal grant to develop the Cumberland Plateau Feasibility Study. In the next year, researchers will set out to itemize the diverse bio-species and also the cultural heritage of the Plateau, which takes in 280 caves, 164 waterfalls, nearly 4 million acres of forest and numerous reservoirs all spread out over 21 counties.
FINANCIAL ASPECTS:Through 2007, large acre unimproved tracts in the Upper Cumberland area were commanding as much as $8,000 plus per acre. Five acre tracts were bringing $10,000 plus per acre. There are many like kind sales where the Gernt Family Corporation sold less than one-acre lots for $95,000 per lot.
Due to the economic collapse of 2008, the land value of 204.43 acres placed into the conservation easement, depreciated to $3,000 per acre or $613,290. I drilled for oil during the summer of 2009 in what is now the easement area. Oil was found, but not a large enough volume to pump. However, a voluminous natural gas well now exists there. Because of the easement, the gas may never be used commercially, although it may be used for heat, air, electricity, etc. on any buildings in the easement area and any buildings in the excluded area.
The value of the 33.5 acres, the buildings and infrastructure in the excluded area has not been determined as of September 2009. The mortgage balance to date, 06-07-10, is $281,701.18 at 5.34% interest for five more years. Then Farm Credit Services will take the balance at that time and adjust the interest rate. The goal is to zero balance the mortgage in 2024. The monthly payments are $2,405.33. Here are some ways to think about the hard core value of this property. At the lowest economic point in the last 35 years the 204.43 acres is worth $613,290. The 33.5 acres is worth $134,000. So worst case scenario the property is worth $780,790 without any value give to the buildings, three septic systems, electricity, water well, gas well, and the roads. The adjusted value for the increase in our economic recovery adds $1,000/acre to the 204.43 and 33.5 acres parcels respectively. So the new value is $980,220 for the land alone.
All of the buildings and infrastructure are basically free.Additionally, a recent Forest Stewardship Plan developed by Doug Rodman, Forester for The Land Trust of Tennessee, has estimated the value of the the timber on the property if harvested in 2010 to be approximately $265,000.00; in five years that figure would increase to $295,000.00 (give or take $25,000) and in ten years the estimated value could be as much as $330,000.00. This approximated valuation of the timber on the property adds another aspect to the marketable resources available on the property and the overall value of the land itself. One could defray the cost of purchasing the property by as much as $265,000.00 almost immediately by selling the timber.
This is what I would like to accomplish:I am a 52-year-old airline Captain with USAIRWAYS. I have been disabled since April 28, 1995 due to the loss of my right eye. I am restricted from flight duties because even though it is remotely feasible to fly with one eye missing, I do not have 20/20 vision in my left eye. Essentially, I’m grounded until one of these parameters changes. I've taken Buffalo Cove to a level that I could afford. A lodge and a resort on the 33.5 acres, according to Bob Hatcher's Eco-Tour -ism Plan is probably the next level to consider. I would like to reduce my personal financial load and see my goals accomplished at Buffalo Cove. I am interested in a joint venture partnership, but I would consider an outright sale that could possibly include financing on my part.
People always ask why I would entertain investment partners or sell the property. The answer is time. I have devoted most of my life to creation, repair, and improvement of things. The job with the airline provided a good income for the development of my ideas. I have some personal goals that I would like to accomplish. One of which is to finish some of my personal projects before I get too old to enjoy them.
Tennessee is a beautiful state!!! I wear this state on my sleeve, bleed orange, sing “Rocky Top,” etc. It’s just the best ever… It’s a life!! The congestion and pollution that have developed in the Tennessee Valley since the late sixties is unbelievable. The Great Smoky Mountains, Sevierville, Pigeon Forge, Gatlinburg, Asheville; even though they are wonderful, I believe have lost some of their purity and charm. Up on the Plateau, the air is CLEAN. It’s not congested. The same geological formations that prevented the early settlers from overpopulating the area are still there. They are BEAUTIFUL!!! The Big South Fork has been tamed just enough to enjoy, but not commercialized.
You can be in downtown Jamestown at Wal-Mart, Pizza Hut, McDonald’s, Hardee’s, Ruth’s: for a GOOD meat and three, Chinese, Dairy Queen, True Value Hardware Store, three Banks, Grocery Store, Co-op, and our world famous frozen deep-fried sea food place, “The Sea Boat” in 5 minutes. It’s an easy drive to Nashville, Crossville, Chattanooga, Louisville, Frankfurt and Lexington. There are three different and fun ways to go to Knoxville (Go Vols!!).
Large acre tracts in Tennessee will eventually disappear. This property is worth protecting. It offers a lot of opportunity at an inexpensive price compared to other properties. I hope ya’ll enjoyed the narrative!!
Roger Solomon's Beggar's Castle
The untamed, untouched appearance of the countryside seduces newcomers into fantasies of the lands's history. Could it have ...
Caves of Buffalo Cove
Natural caves have been categorized by the ACCA for our .
Preservation
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