Tag Archives: Boom and Bust

- “We Are Not Saved:” The Land Boom & Real Estate Speculation in Montgomery County, VA


Plan D, Radford Land & Improvement Co., Deed Book 31, p. 259, Montgomery County Circuit Court.

In the late 1880s and early 1890s, Southwest Virginia was gripped with “boom” times as the Norfolk & Western Railroad opened up the region for development. Small towns and even previously non-existent ones exploded with growth seemingly overnight. Land development companies swooped in, mainly with northern capital, to carve up farmland into future cities. Montgomery County was no stranger to this concept as the “boom” swept through its borders. Central Depot at the far western edge of the county had been a small railroad community, but by the 1870s and 1880s, developers started devising ways to make it grow. The community would go on to become Central City as a fully incorporated town, then Radford, and then the independent City of Radford. A group of chancery records from Montgomery County bear witness to the “boom,” or more accurately to its aftermath, as the bubble burst on dreams for development. These cases, W.R. Liggon vs. George W. Tyler etc., T.E. Buck vs. George W. Tyler etc., and Nancy M. Liggon etc. vs. George W. Tyler etc. (1897-056) and R.B. Horne etc. vs. George W. Tyler etc. (1897-057) give fascinating insight on the inner workings of “boom” times.

In this period of extraordinary growth for many towns, real estate speculation was the name of the game. Huge profits could be made by buying land, dividing it into … read more »