In recent years, the Nashville area has become a very attractive relocation destination and is experiencing a population growth spurt with approximately 85 - 100 people moving to the area on a daily basis. Due to the influx of people, real estate is fast becoming a driving force for the Nashville area's economy, and currently ranks as one of the hottest housing markets in the U.S. According to a report by Emerging Trends in Real Estate, Nashville also ranks among the nation’s top 10 cities for commercial real estate markets.
Michael Wald, an Atlanta-based independent economics analyst, said growth in the Nashville region's economy has led to even more growth. "More workers cause more demand for more goods and services, which creates more employment," he said, adding job growth has been key to more people moving here.
The Metro Nashville area's population has increased consistently over the past five years. Nashville/Davidson County is largely urbanized with extensive residential areas, and the upwards trajectory of population growth is due to a number of factors including transportation advantages, labor supply, and development opportunities.
According to Forbes, the Nashville-Davidson-Murfreesboro-Franklin area is the “2nd Best Big City for Jobs in America.” Major industries include health care management, automobile production, finance, higher education, insurance, music production, printing & publishing, technology, manufacturing, and tourism.
Nashville’s largest industry is health care and is home to more than 300 health care companies, including Hospital Corporation of America (HCA). The health care industry contributes over $30 billion per year and over 200,000 jobs to the Nashville-area economy.
The second-largest music production center (after New York) in the U.S., Nashville, a.k.a., "The Music City" is known for its vibrant music and entertainment scene. The Country Music Hall of Fame and Museum, Belcourt Theatre, Ryman Auditorium, Nashville Opera, Music City Drum and Bugle Corps and Nashville Ballet can all be found in Nashville.
The city's hospitality Industry also continues to thrive, and last year alone, Nashville hosted 13.9 million visitors resulting in more than $5.7 billion in direct visitor spending. A total of 59,440 jobs in Nashville are directly related to the hospitality industry. Nashville is home to Gaylord Opryland® Resort & Convention Center and The Music City Center, which opened in 2013, Nashville's new downtown convention facility.
Nashville consistently ranks among the lowest for cost-of-living in comparable cities across the nation, ranking more cost-efficient than cities like Atlanta, Austin, Jacksonville, and Cleveland. Nashville' overall cost of living is actually 4.5% less than the national average. And daily amenities such as groceries, housing, utilities, etc. are typically below the national average.
In addition, Tennessee has no income tax and instead funds its operations on a consumption-based sales tax. As a result, the state has the lowest debt per capita in the country, is among the top 10 of financial strength, is fourth in long-run solvency, and first in lowest cost of living. The bottom line is that residents have more real income and buying power than most other states.
No doubt about it, the Greater Nashville area has much to offer - and is a great place to live, work and play!
If you'are interested in relocating to the Nashville area and buying a home, we will be happy to assist you in finding the perfect home in the right community that best matches your preferences and needs.
Nashville and the surrounding area offers a vast array of housing and lifestyle options. We focus our real estate expertise in the following areas, but not limited to:
Whether you are interested in single-family homes, luxury homes, new construction homes, gated community homes, golf course homes, pool homes, condos, townhomes or lots/land, we can help you find the ideal home that meets your specific criteria and needs.
Please visit our website community pages to learn more about the Nashville area including local communities and neighborhoods, homes for sale, new construction, amenities, schools, HOA fees, shopping, points of interest, taxes, utility providers, and much more!
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Our friendly team of experienced Nashville area real estate experts provides exceptional, personalized service and will work relentlessly to ensure that your home buying or selling experience is a positive and rewarding one. We invite you to give us a call today and look forward to helping you with your Nashville area real estate needs!
RE/MAX Fine Homes
1624 Westgate Circle Suite 125
Brentwood, Tn 37027
Cell: (Direct) 615.438.4941