Tennessee Moving Trends
If youâ€™re considering making a long-distance move in 2023, thereâ€™s never been a more ideal time to consider Tennessee than now. This start is growing more than ever due to its affordability, beautiful nature, vibrant cities, and many things to do indoors and out for the whole family. Odds are, whenever youâ€™re visited the beautiful Smoky Mountains or taken a trip down to historic Nashville, youâ€™ve left wondering why youâ€™re even going home!
No matter where youâ€™re heading, thereâ€™s no doubt that long-distance moving to any area is a huge decision that shouldnâ€™t be made on a whim. However, if youâ€™re looking to learn more about Tennesseeâ€™s housing market and what the state might hold for you and your family now or in the future, weâ€™ve got exactly the guide you need to make the right decision.
Why Move to Tennessee?
Before we get into the current Tennessee moving trends that will impact your home renting or buying prospects in the state, letâ€™s determine if Tennessee is really right for you. After all, even if youâ€™ve visited the state and really love it, not every area is right for everyone. Youâ€™re unique! So, what does Tennessee have to offer? The following are the best reasons to move to Tennessee.
- Low Taxes
This is a huge draw for a lot of people, and thereâ€™s not much question as to why. Tennessee has zero state income tax on salary or wages, which is a very practical aspect to take into account when thinking of moving here. Property taxes in the state are also very low and are even regarded as some of the lowest in the country.
- Low Cost of Living
In addition to its nonexistent income taxes and low property taxes, Tennessee also offers a very affordable cost of living and high quality of life in comparison to the national average. The average cost of housing in the state is also remarkably low for the value youâ€™ll receive in comparison to many other parts of the country. Even in the state’s largest cities, including Nashville, and Memphis, youâ€™ll find relatively affordable housing prices.
- Access to Healthcare
Tennessee is home to some of the country’s best healthcare institutions and hospitals. Throughout the state, youâ€™ll have access to Vanderbilt University Medical Center, University of Tennessee Medical Center, Baptist Memorial Hospital, CHI Memorial Hospital, and Ascension St. Thomas Hospital West.
- Beautiful Nature
One of the biggest draws to Tennessee is the beautiful Great Smoky Mountain range, known as one of the country’s oldest and most beautiful mountain ranges. Part of the Appalachian Mountains, this range brings you nearly unlimited chances to explore some of the most beautiful natural attractions. From waterfalls to hiking trails, camping, horseback riding, or just scenic driving routes, the Great Smoky Mountains have it all.
- The Music Scene
Weâ€™re sure youâ€™ve heard about the amazing music scene in Nashville, but Tennesseeâ€™s groove doesnâ€™t just stop there. The entire state is a musical hub for music scenes ranging from country to rock & roll, soul, R&B, and more. From the historical attractions honoring music legends like Johnny Cash or Dolly Parton (not to mention Dollywood!), to neighborhood bars with tons of live music and its plethora of annual music festivals, youâ€™ll never run out of beautiful sound in Tennessee.
Now that weâ€™ve outlined some of the best reasons to move to Tennessee, letâ€™s take a closer look at the Tennessee real estate market and the moving trends in the state so you can determine whether or not it’s the right time to make your move.
What are the Tennessee Moving Trends in 2023?
As we mentioned before, Tennessee features a low cost of living and affordable housing, even in most parts of its biggest cities. However, the state is not immune to the larger economic trends taking place in the United States as a whole.
For potential home buyers, itâ€™s largely known that mortgage interest rates are at years-long highs due to the very high rates of inflation in the country. This is not a favorable aspect for potential buyers, since this will elevate their monthly payments and impact what kinds of homes theyâ€™ll be able to afford.
All of this being said, the Tennessee housing market is not expected to crash anytime soon due to the lower supply of houses and increased competition in the Tennessee housing market. Though the real estate market is slowing down, home values are not expected to fall and the market is largely stable. Average home prices are projected to rise around 6% over the course of the next year.
Even with housing market prices rising over the course of 2023, Tennesseeâ€™s housing prices remain affordable in comparison to the rest of the country, with the median home price in Tennessee coming in at around $291,334 according to Zillow for a single-family house. As you can see, even with home prices on the rise, Tennessee still offers affordable options that give you great value for your money.
If youâ€™re wondering which areas of Tennessee will be the most popular destinations to move to for those both already living in the state and those outside of it, the cities with the highest internal moves are its hotspot cities of Nashville, Knoxville, Chattanooga, Memphis, Jackson, and their adjacent suburbs.
How to Find the Best Tennessee Movers
No matter where you find yourself heading in to in Tennessee, having the best Tennessee moving company on your side for your relocation makes all the difference between having a successful and smooth move and having an arduous process that will make you want to stay in your current place! If youâ€™re looking for the best moving company in Tennessee, look no further than Carey Moving & Storage.
Carey Moving & Storage is the most reputable moving company in Tennessee and is known for providing the most complete and affordable moving services possible. No matter what your move entails, we have the experience and expertise to get your items to your new home easily and in the most straightforward manner. See what we can do for your family or business today for the best Tennessee move possible.