The home of country music, Nashville, Tennessee, is known for its southern charm and welcoming atmosphere. With such a diverse population and low cost of living, Nashville has become a popular destination for musicians of all genres, artists of all kinds, and professionals who want to work and live in a creativity-driven atmosphere.
The Nashville real estate market is especially appealing to millennials, and there are plenty of attractive Metro Parks with Athletic programs. Nashville’s main attractions include the Grand Ole Opry, Country Music Hall of Fame, Tennessee State University, and a bustling health care industry.
Millennials have taken notice as Nashville ranks as the #1 best place to live in Tennessee and #30 in the best places to live in the US. The city’s real estate market is especially appealing to them due to its affordability and opportunities for work. In 2010 alone, population growth in Nashville was 15%, and by 2030, the population is expected to grow another 14.7%.
With a 4.6% job growth in 2021 and 3.9% expected in 2022, Nashville is forecasted to have more jobs than ever before. The bulk of these jobs are located in the Leisure and Hospitality industry as travel returns to normal post-pandemic. Health Care, Music Industry, and Startup businesses will continue to expand and help Nashville maintain its number one ranking for high-earning jobs.
According to a recent Bureau of Labor Statistics report, unemployment rates in Nashville have fallen 2.8%. One reason for this is Nashville’s booming healthcare industry. Half of the for-profit hospitals in the United States are located in Nashville, so it’s the perfect place for recent medical graduates to start working.
Nashville may not be the deep South, but it still presents its fair share of Southern taste. The city is home to hot chicken, a type of fried chicken that is known for its spice. Folks in Nashville are serious about country music, and you can’t miss the Johnny Cash Museum.
The city, which has been dubbed the “Athens of the South,” has numerous chances for adults and children alike to obtain a high-quality education. Vanderbilt University (a private research university) and Tennessee State University (a historically Black institution) are the two largest colleges in the state.
Ranking in the top 8 cities in the nation with a 10:1 teacher-to-student ratio, Nashville also has athletic programs that have something for all ages to participate in during the school year. Locals cool off on hot summer days by visiting the Bicentennial Capitol Mall and their endless water fountains.
Attractive Housing Market
In 2021, Nashville was recognized as the US city with the most economic growth. With a population of 2.05 million and growing fast, Nashville is also known as “supernova” because of how quickly it’s been attracting educated millennials to the city. This steep influx of educated, young professionals, largely due to the city’s affordability, exciting music scene, and the many opportunities for work there, will continue to drive the Nashville housing market.
With the demand for housing outweighing supply and the population of Nashville growing at a rapid rate, homes in Nashville and its suburbs are generally on the market for less than 10 days and have been selling for thousands over their listed price. These stats drive rental rates higher too because more families are opting to rent rather than compete for the low housing inventory.