Tennessee is a state rich in history. Also, it is home to many mountain ranges and lakes as well as beautiful landscapes. In this article, we will explore some of the Top Reasons Why You Should Buy a Property in Tennessee, be it retirement, jobs, or investments.
TN is known as the Volunteer State because thousands of soldiers from this state played an important part in the War of 1812. It has many other nicknames as well, like The Big Bend State and The Mother of Southwest Statesmen, all reflecting its history. However, if history is not your thing, there are plenty of reasons why moving here is a good choice. Especially if you like music. It is the birthplace of Rock ‘n’ Roll, and the heart of the Country Music Scene. These were just some of the reasons why moving here could be fun, but let us talk about more serious topics, like real estate, cost of living, job market and similar factors that will make or break your decision whether to move to Tennessee or not.
Why Should You Invest in Tennessee Real Estate
Tennessee has a great climate and amazing recreational possibilities. The Great Smoky Mountains National Park in eastern Tennessee, is the most visited national park in the state. And when you combine that with some of the best musical and cultural destinations like Nashville and Memphis, you will get a great market for college students, job hunters, families, and retirees. Moreover, Tennessee is home to many great companies, both local and international. And what is most important, those companies seek new employees all the time. Especially in Memphis, Nashville and Clarksville, which are experiencing massive job growth. So, you know how that goes – more jobs mean more people needing housing. It is not going to be hard to persuade them to buy a property in Tennessee that has a low cost of living and a great a standard. Do not forget to have a chat with a real estate agent to help you choose the best neighborhood in Clarksville or Nashville or anywhere else in this big state.
Tennessee has plenty to offer. Whatever the reasons for moving there is, no doubt that you will fit in, in no time.
Job Market in Tennessee
Let us start by saying that Tennesse has a generally low unemployment rate which is around 3.4%. So, there is no doubt that the chances of finding a job as soon as you arrive, are rather high. Right now, the minimum wage is the same as the federal minimum which is $7.25/hour. In almost all cities you will see that the job market is strong, but a few cities really stand out – Memphis, Nashville, and Clarksville. There are many foreign investors in these cities as well as many new companies opening all the time. So, if planning on moving to TN from another state make sure to explore your options. And if you are wondering which professions are in demand, here is a list:
- physical therapist
- home health aide
- nurse practitioner
- tax preparer
However, if you want to shoot for the stars, then turn to the more serious medical career. Medical jobs like a surgeon, pediatrician, orthodontist, psychiatrist, dentist and nurse anesthetist are the highest paying jobs in the state. But, do not limit yourself, as previously said, the job market in Tennessee is huge, and you can pretty much do whatever you desire.
Housing in Tennessee
In Tennessee, the majority of houses were built around the year 2000. However, that does not mean that the construction has ended. Quite the contrary. New construction can be seen across central Tennessee, mostly in or around Nashville, Memphis, and Clarksville. People just love living in the center of happenings. So, if that is what you are looking for, then an apartment life will be suitable for you. In the capital of Nashville, you will pay approximately $1,200/month for a one-bedroom apartment. The price is lower in cities like Memphis, Knoxville, and Chattanooga. The average for a one-bedroom apartment is around $750. However, if you plan on living here with your family and living for a long time, then you should definitely invest in buying a house. Current price for the homes listed on the market is around $242,000. As you can see, there is a lot to choose from. However, before you start packing your bags and moving far away to Tennessee, consider purchasing moving insurance when moving long distance. It can be a lifesaver. Before you decide to move to Tennessee, make sure to find a good real estate agent to help you find a perfect property.
The Cost of Living in Tennessee
When it comes to the cost of living, as previously mentioned, you can find cheaper homes to rent and buy. But when it comes to paying utilities, you will have to pay a bit more than the national average. But do not worry, you will save a lot of money on health care and education. Also, in Tennessee, students do not fear student loans as they are less expensive than in pretty much any state. And, when it comes to buying food, well those prices range depending on your location and taste. It is a normal thing that food prices vary. Tennessee doesn’t have a state income tax unlike it’s neighbor to the north, Kentucky. This is one of the reasons homes sell faster in Clarksville TN than they do in Hopkinsville KY. If you are on the budget, start looking for some affordable homes for sale in Clarksville, for example. However, if money is not a big problem, you can live anywhere comfortably.
Do not worry about money when moving to Tennessee. Living here will not break the budget, which is why people are retiring in TN more and more.
People in Tennessee
When you talk to locals in Tennessee you will definitely feel warm and welcome. People here are said to be the friendliest people in the United States of America. Saying hello and waving to everybody here is a must. And, what is more, people here cannot wait for you to ask them something on the street. Talking to neighbors and drinking coffee or beer, or having a barbecue every possible weekend is a normal thing. If you need a garden rake, every neighbor will give you theirs. What more to look for in a neighborhood? Living in Tennessee covers everything. So, those were the top reasons why you should buy a property in Tennessee, do not wait, start packing your bags.
There are lots of reasons why you should buy property in Tennessee. I have had several clients that have moved to Tenessee from California, Illinois, Colorado, and other states and countries even to take advantage of the low cost of living, tax benefits and the 4 seasons that we have to offer. TN is becoming a destination for retirees and young professionals. This area is growing at an incredible rate and the price of real estate is going up but we are still well below other areas and we do have so much to offer in middle TN and especially in the Clarksville area. If you are thinking of retiring in TN, the lake areas and mountains are beautiful. – Ron Dayley