November 05, 2010 06:16:44 GMT
The 'American Idol' alum reportedly slashes the price of her house by $41,000 in a desperate bid to sell it.
Kelly Clarkson is feeling the pressure of the worldwide credit crunch - she has reportedly slashed the price of her Tennessee home by $41,000 (GBP27,330) in a desperate bid to sell it. The former "American Idol" star put her luxury home on the market for just over $1.5 million (GBP1 million), but the sprawling five bedroom, six bathroom mansion in Nashville's posh Belle Meade area has yet to sell, according to the National Enquirer.
Clarkson, who bought the estate in 2007, is now planning to take a major property market hit.
Kelly Clarkson is not the only celebrity who is forced to lower the price of her property. Val Kilmer recently also slashed price of his New Mexico ranch by a massive $10 million because it has not been sold since put on market in 2009.