Why Invest in Nashville Real Estate?
Nashville is the state capital of Tennessee and a vibrant economic center. Key industries include tourism, healthcare, and education, supporting a year-round service industry, future-proof economy, and plenty of transitional residents that need rental housing. Its low cost of doing business relative to the national average and the fact that the state of Tennessee has no personal income tax make it attractive to both new and established residents alike. The city has been ranked as ‘the third best-positioned city to grow and prosper in the coming decade, No. 6 on its list of the Best Places for Businesses and Careers and as the No. 4 ‘Brain Magnet’ for gains in people with college educations” by Forbes Magazine. The unique combination of hi-tech industry, education, and tourism means that Nashville will continue to be a desirable destination for tenants of single-family housing, which means opportunity for real estate investors.
Investment Considerations for Nashville Real Estate
There are a number of factors to consider, including:
- Known the world over as “Music City” because WSM radio announcer David Cobb referred to Nashville with that nickname in 1950 on Red Foley’s NBC radio broadcast. (visitmusiccity.com)
- The 2nd largest city in Tennessee, after Memphis, and the 5th largest city in the Southeastern U.S. (Wikipedia)
- Three major interstate highways (I-40, I-65, and I-24) converge near the core area of downtown, and many regional cities are within a day’s driving distance. (Wikipedia)
- Because of its relatively low cost of living and large job market, Nashville has become a popular city for immigrants. (Wikipedia)
- Fortune 500 companies with offices in Nashville include Dell, HCA and Dollar General. (Wikipedia)
- The vibrant economy also draws young professionals downtown – one reason the city ranked number three on Kiplinger’s Top 10 Best Value Cities. (livability.com)
- The investment firm Cushman and Wakefield also ranked the city as one of the top markets for Millennials
- The nickname “Athens of the South” comes not only from the Nashville’s replica of the Greek Parthenon but also from its reputation for educational excellence. (Encyclopedia.com)
- Nashville is home to more than a 21 institutions of higher education.
HomeUnion® is the leader in residential real estate investment. With the use of big data and machine learning, we analyze information on millions of single family homes in Nashville, TN; and across the United States and calculate home values RENTestimate for every property in Nashville. If you’re looking for the best investment properties across the country, visit our comprehensive investment site.