$statuslabels = array(
    'name' => _x( 'Status', 'taxonomy general name', 'contempo' ),
    'singular_name' => _x( 'Status', 'taxonomy singular name', 'contempo' ),
    'search_items' => __( 'Search Statuses', 'contempo' ),
    'popular_items' => __( 'Popular Statuses', 'contempo' ),
    'all_items' => __( 'All Statuses', 'contempo' ),
    'parent_item' => null,
    'parent_item_colon' => null,
    'edit_item' => __( 'Edit Statuses', 'contempo' ),
    'update_item' => __( 'Update Statuses', 'contempo' ),
    'add_new_item' => __( 'Add New Status', 'contempo' ),
    'new_item_name' => __( 'New Status Name', 'contempo' ),
    'separate_items_with_commas' => __( 'Separate Statuses with commas', 'contempo' ),
    'add_or_remove_items' => __( 'Add or remove Status', 'contempo' ),
    'choose_from_most_used' => __( 'Choose from the most used Statuses', 'contempo' )
);
register_taxonomy( 'status', 'listings', array(
    'hierarchical' => false,
    'labels' => $statuslabels,
    'show_ui' => true,
    'query_var' => true,
    'rewrite' => array( 'slug' => 'status' ),
));

function status() {
    global $post;
    global $wp_query;
    $terms_as_text = strip_tags( get_the_term_list( $wp_query->post->ID, 'status', '', ', ', '' ) );
    echo $terms_as_text;
}