PricewaterhouseCoopers’ 2022 Emerging Trends in Real Estate Report ranked Nashville as North America’s No. 1 real estate market with the best overall outlook. The report examined factors such as overall real estate prospects, homebuilding potential, investor demand, and future opportunities, concluding that Nashville is a “supernova city” that’s exploded in popularity and shows no signs of stopping.
Nashville has above-average economic and employment diversity, which have helped the city weather pandemic-related uncertainties. Though Music City’s population and economic growth are booming, home prices remain affordable relative to incomes, and demand is high. If you’re considering investing in real estate, now is an excellent time to buy a house in Nashville.
The Benefits of Investing in Nashville Real Estate
Whether you’re searching for a new home for your family or planning to buy a second house as a rental property, your purchase can give you more long-term financial security. According to RealTracs, home prices are up 60% since the beginning of 2020, and that growth shows no sign of slowing. In other words, your investment should continue appreciating over time, which will work to your advantage if you choose to sell.
Nashville’s consistently outstanding quality of life continues to make the city attractive to educated professionals, families with children, and single people looking to get high-paying jobs or further their education. Nashville offers all the cultural attractions and amenities you’d expect to see in a sophisticated capital city, but despite its rapid growth, the metro area has not lost its welcoming spirit or unique personality.
2022 Nashville Real Estate Trends
If you’re looking to buy a house in Nashville, you’ll be in good company. The metropolitan Nashville region has seen an influx of new residents within the past decade, drawn by factors like the temperate climate, low cost of living, thriving job market, and lack of state income tax.
In addition, as savvy investors know, Nashville has a record of being one of the best long-term real estate investments in the U.S. and is in the top 10% nationally for real estate appreciation.
Are You Ready to Buy a House in Nashville?
There’s an especially high demand for rental properties throughout Middle Tennessee. If you are interested in earning passive income as a landlord or by putting your property on a short-term rental website like Airbnb or Vrbo, there has never been a better time to buy a house in Nashville. Or, you may prefer to move your family here because you’ve fallen in love with Middle Tennessee’s many charming communities and can’t envision yourself living anywhere else.
If you want to own property in a booming, diverse metropolitan area, Nashville is one of the best American cities for potential homebuyers and real estate investors alike.
At Legacy South, we build timeless homes crafted with integrity and intention. Reach out to our team today to take advantage of current Nashville real estate trends.