Sure enough, the almost impossible is happening at our doorstep. The unlikely severe drought is here and destined to continue through 2012 and become the most severe drought in central Texas history. Lake Travis low lake levels are expected to break all records sometime this summer. Full lake level is 681', normal around 675' and today just above 626'. The record low of 614' is only 12' below today's' 626'. We are 55' below normal today and heading for at least 67' below. Some subdivision wells on the south side of Lake Travis went dry yesterday requiring water to be trucked in. Category or level 4 water rationing is now hitting several areas. That means no water use except for drinking, bathing and washing.
The blow to real estate and businesses around Lake Travis has been devastating. Several restaurants around the lake have closed and others have scaled back to minimum staffs. The normal tourist season with thousands of Dallas and Houston visitors was non-existent in 2011. It's a great time to be a real estate buyer but not so great to be a seller. There are real deals all around the lake that won't be available when the lake comes back. In spite of the lake level, most business owners and real estate agents around the lake look for a much improved 2012. The market - and people - are adjusting to the new reality.