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Formula One announced earlier this summer that Austin would host the U.S. Grand Prix until 2021.

Chris Taylor, with Taylor Rotorsports, said people are thinking of how they might profit from the coming race track.

"Everybody I think is planning on either being able to make money from parking and other extra services surrounding the event. Or just figuring, being as close as we are, they're going to be able to get more money for their property," Taylor said

Janie Miller, a local real estate agent, said calls have been coming in, but she expects interest to increase.

"This has just been a week, it takes longer than that to come from Houston, or Dallas or out of state and look at property and say where is Formula 1 going?" she said.

Since the announcement more and more people have been finding Elroy. The phones at Miller's real estate office have been ringing with people looking for a piece of the Formula 1 action.

"Investors call or email, everybody is looking for land to buy," she said.

Miller also owns land near the track’s designated location. She said she's had it on the market for more than three years.

"I've had maybe three people ask me about it in the last three years," she said.

After the track's location was announced, Miller had that many calls in two days.

She said most people are looking for deals, but with the first race scheduled for 2012, added prices aren't going down.