The Memphis-area housing market is growing up, getting more sophisticated. Also, there are people moving here from other parts of the country, and they realize they can get more house for their money in Memphis.

(The) market in Memphis continues to be strong in the first three months of the year, with the busiest months ahead of us.

Part of growing up is just taking what you learn from that and moving on and not taking it to heart.

It was in a market that was growing but has declined, at least as far as housing starts. What it all comes down to is housing starts. Our benchmark is 3,000 starts annually in a market. There were not very many in these areas and 95 percent of our customers are builders. It is not a people issue, it is a market issue.

We know a lot of families are moving to Arizona, Texas and Colorado because of (California's) expensive housing market.

I'm not a housing market expert, and I don't want to pretend to be one.