KNOXVILLE, Tenn. (AP) -- It's been three years since the University of Tennessee put its president's house on the market.

Only two offers have been made over the last year for the waterfront mansion.

Although 27 people have looked at the home, university spokeswoman Gina Stafford says that neither offer has come close to the $2.9 million asking price.

Although the price might make it a tough sell in the current economy, Stafford says the school is in no hurry to find a buyer.

Realtor Jim Ford says showings have been to mostly local residents, though a few out-of-towners have expressed interest. He says the main attraction for people outside the area is the waterfront access and location but the history of the house is the main selling point for locals.

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