Clayton Homes is the largest builder of modular and manufactured homes in the United States. The company, which is based in Maryville, Tennessee, has been helping people in all walks of life own their own homes for more than 60 years.
Clayton Homes is a leader in the manufactured home industry. It has been awarded numerous home design awards and was elected MHI Retailer of the Year for eleven of the past 12 years. The company has also been working towards creating sustainable housing solutions for years and is ISO 14001 certified for green building standards. Clayton Homes is also known for its innovations in the home building industry; always striving to provide affordable, sustainable, and durable housing solutions. In 2015, it partnered with several other companies to create one of the first 3D printed homes.
Clayton Homes provides its customers with a variety homebuilding services which include not only modular homes, but also traditional site-built homes, college dorms, military barracks, tiny homes, apartments, and more. It also owns several different home finance companies including Vanderbilt Mortgage and 21st Mortgage.
Clayton Homes created by businessman Jim Clayton as a side business in 1956. At the time, Clayton sold used cars. However Clayton quickly realized that the mobile home business was more lucrative and in 1966, the first Clayton Home center was opened.
By the early 1970s, Clayton was selling around 700 units a year and he decided to transition into only selling, but manufacturing homes. The first Clayton Homes manufacturing plant was built, and it wasn’t long before the company launched its first mortgage business, Vanderbilt Mortgage and Finance, to help customers afford their brand new Clayton Homes.
The growth for Clayton Homes continued through the 80s and 90s despite the economic downturns. The company went public in 1983 and opened the first of many manufactured home communities in Texas in 1987. When the market went down in the late 80s and 90s, Clayton’s mobile home units stayed profitable as it provided more affordable housing options than more traditional homes.
In the early 2000s, the company’s earnings saw its first decline. By the time Berkshire Hathaway purchased the company in 2003, it had endured three consecutive years of declining sales. However, with the backing of Berkshire Hathaway, the company turned itself around and has recovered to become one of the nation’s leading providers of manufactured homes.