Nashville has such an amazing real estate market.
While the city has seen a lot of growth over the past several years, Nashville is still very much a Southern city. Its culture is strong and traditional, and many of its residents still value real estate as part of the American dream.
Nashville’s population has grown by 20 percent since 2000. That growth has led to a corresponding increase in housing demand, and the cost of housing has shot up as well.
Still, Nashville is a relatively small city, and that’s one of the reasons it’s such a desirable place to live. You can buy a single-family house for the same price as you can rent an apartment in many neighborhoods.
Two of the key factors in the housing market are employment and income. The strong job market and relatively low cost of living have attracted many skilled and talented people to Nashville, and that has created a demand for housing.
In addition to employment, income, and population growth, home prices are also affected strongly by the supply of housing. The Nashville area has about 6,000 new homes on the market at any given time.
That supply isn’t necessarily keeping up with demand, so prices are rising. The median price of a single-family house in Nashville is $228,000, according to Zillow. That’s up 22 percent from 2013.
However, the number of houses for sale has increased by 5 percent during the same time period, so there’s reason to believe that prices will moderate.
Long-term trends in the housing market also show Nashville to be a great investment. According to a report by Moody’s Analytics, Nashville’s housing market is one of the most stable in the country.
In 2013, Moody’s Analytics conducted a study that asked 1,000 people across the United States to predict home prices in 10 years.
Why We Love Real Estate
