Georgia is one of the most heavily forested states in the nation—with roughly 24 million acres of forestland covering nearly two-thirds of its total area. Of that, an estimated 91% is privately owned, positioning landowners as key players in one of the South’s most important natural resource economies.
At the center of monitoring that economy is TimberMart-South (TMS), a subscription-based, not-for-profit organization located in Athens, Georgia. Established in the 1970s and originally connected to the University of Georgia’s Forestry Department, TMS has become one of the region’s most trusted sources for timber pricing and market data. Today, the organization tracks timber activity across 11 southeastern states, dividing each into sub-regions and offering detailed historical and current pricing data to landowners, mills, consultants, and investors.
At the helm is Jonathan Smith, Executive Director of TimberMart-South, who oversees the organization’s market analysis and outreach. During a recent conversation with IPG Properties, Jonathan shared valuable insights into timber values, mill operations, landowner strategies, and broader trends impacting Georgia’s forestry market.
He explained that while much of their work is used internally by landowners or forest managers, TMS data also plays a key role in supply contracts and reporting for publicly traded companies. “We were started because of supply agreements that were tied to our information,” Jonathan explained.
“A lot of timber is managed by publicly traded companies, and they use our data to inform investors and plan harvests. Our job is to deliver unbiased pricing and market trends in a format that protects reporter confidentiality.”
Georgia’s Timber Profile
Based on 2021 U.S. Forest Service data, Georgia contains an estimated 19 billion cubic feet of softwood— primarily southern yellow pine— and around 24 billion cubic feet of hardwood. “Georgia manages our pine forests more intensively,” Jonathan said. “They’re planted, thinned, and harvested in rotations—kind of like crops—while hardwood forests often grow more naturally in wetter areas and are managed in longer rotations due to slower growth, wildlife use, or recreational value.”
Timber Mart-South tracks stumpage prices, which reflect the value of standing timber sold directly from landowners to buyers, as well as delivered prices, which include the cost of harvesting and transporting timber to mills. While TMS does track both, the organization generally allows only stumpage pricing to be republished due to licensing constraints. Stumpage pricing is also seen as most meaningful to the general public.
As part of its market reporting, Timber Mart-South also tracks mill activity throughout the region. In Georgia alone, there are approximately 78 active mills, including:
- 44 lumber mills (35 pine, 9 hardwood)
- 8 panel mills (3 OSB, 2 plywood, 1 particleboard, 2 MDF)
- 26 pulp/paper and biomass mills (11 pulp and paper, 15 biomass facilities)
Larger pine sawmills dominate the landscape and to be included in TMS reports, a sawmill needs to produce at least 25 million board feet per year. Jonathan explained that this excludes smaller mills, particularly on the hardwood side, but that the goal is to capture the majority of Georgia’s industrial output.
One example of a major facility is Georgia-Pacific’s Madison mill, which produces approximately 450 million square feet of plywood annually—requiring around 350,000 tons of roundwood each year. These numbers translate to roughly 60 truckloads per day, based on a 200-day operating schedule.
Market Supply & Demand
In 2024, Hurricane Helene caused an estimated 26 million tons of softwood damage in Georgia alone—roughly equivalent to five years of net timber growth. While many expected prices to rise due to scarcity, the opposite happened in the short term.
“The market got flooded with salvage wood, and it drove down prices—especially for smaller diameter pine used in pulpwood and chip-n-saw” Jonathan said.
He added that Georgia’s forest industry is still experiencing the effects of oversupply. The state currently maintains a 1.3 growth-to-removal ratio for pine, meaning it grows 30% more wood annually than it harvests.
That dynamic—while beneficial for sustainability and meeting demand —has kept prices relatively flat since the 2008 recession. “Forestry is driven by supply and demand,” he explained. “Georgia is good at growing wood. And when you grow more than you use, it puts downward pressure on pricing.”
Tariffs and trade policy also play a role. Much of Georgia’s southern yellow pine is exported to countries like Canada, Mexico and the UK, where it’s used for construction materials and biomass fuel. But shifts in global demand, energy mandates, tariffs, and paper use are changing what products are made—and where.
Changes in Demand: From Pulp to Pellets
“We’ve lost a lot of traditional pulp mills,” Jonathan said. “But we’ve gained around 15 pellet mills that produce biomass for export.” These biomass facilities use roundwood to produce energy products, primarily wood pellets, which are frequently exported to Europe to meet renewable energy goals—although the environmental cost of transatlantic shipping has drawn some questions, it still provides a viable outlet for timber growers to sell their pulpwood grade timber.
Pellet mills are similar to traditional pulp mills in that they often use lower-diameter logs, providing an outlet for wood that might otherwise have little value. The transition has not entirely replaced the volume once consumed by paper production. TMS currently tracks 11 pulp and paper mills in the state, a number expected to drop to 10 by the end of the year due to an upcoming closure.
Jonathan noted that “some of the major players in this sector are publicly traded companies and are always analyzing where they can make the most money. The reality is the industry has more capacity to produce pulp, paper, and containerboard than we currently consume—globally.” As a result, companies continue to “shift production toward more profitable product lines,” such as boxes or packaging, and away from traditional paper.
Advice for Landowners
For landowners wondering whether to buy timber tracts, harvest timber ahead of development, or hold out for higher prices, Jonathan said it depends—primarily on timing and volume.
“It’s not just about how many acres you have,” he explained. “It’s about whether there’s enough timber volume to justify a logger moving equipment. Generally, you need at least 20 acres and 1,500–1,800 tons of timber to make it worthwhile.”
Timber Mart-South’s data shows the average timber tract size in the South is about 40–50 acres, but the real factor is stocking—or how much wood is on the land.
Jonathan also emphasized the importance of proper thinning and rotation, particularly for pine plantations. “A typical rotation is 20 to 30 years, with thinning around year 15,” he said. “If you hold past 30 years, trees grow slower, and you’re often just keeping them for aesthetics. The best return is replanting and starting the cycle over.”
Industry Outlook
Georgia’s timber industry remains one of the strongest in the nation. With an established network of mills, strong port access, and a culture of proactive forest management, Georgia’s timber economy is uniquely positioned for long-term resilience. As Timber Mart-South continues to monitor the market, landowners and stakeholders across the region can access the data they need to make informed decisions.
“Our role is to provide clear, unbiased information,” Jonathan said. “Whether you’re a landowner with 50 acres or a mill buying truckloads a day, we’re here to support a healthy, transparent timber economy.”
For more information, visit timbermart-south.com
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