Whether it’s the bustling country music scene, the all-around Southern charm or the desire for more bang for a real estate buck, more and more high-end homebuyers are packing their bags and heading to Nashville.
Over the last 30 years, the Music City has seen its population grow by a whopping 81 percent, and, in 2022, it gained approximately 98 new residents a day, according to data from the U.S. Census Bureau. More recently in November 2023, the Tennessee capital ranked among the top 10 most popular U.S. migration destinations for buyers seeking out affordability, a nice piece of land, and reasonable property taxes, Redfin found.
“A lot of Nashville locals have been priced out of homeownership, but when you’re coming from somewhere like California or New York, housing prices here still seem reasonable,” Redfin Premier broker Kristin Sanchez explained in the report. “Nashville has relatively low property taxes, insurance costs and utility prices, along with no state income tax, all of which definitely help if you’re looking for a lower cost of living.”
Nashville was a top 10 migration city in 2023 for people relocating from higher-cost locales.
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Per a recent survey from Nashville Downtown Partnership, close to half (roughly 43 percent) of residents in downtown Nashville are from out-of-state. Between July 2021 and July 2022, 25,000 Floridians relocated to Tennessee, more than the 22,000 who migrated from California, census data found. Just this month, Manhattan-based Bravo celeb Lindsay Hubbard of Summer House announced in an Instagram post that she purchased a residence in the so-called Athens of the South following her split from fiancé and co-star Carl Radke. Hubbard, however, isn’t planning to…