The Tennessee property market is classically cheap and high quality. The historical state boasts many amazing period buildings nestled amongst stunning natural beauty. If youre looking into investing in property, or you just want to buy a place for yourself, then Tennessee could be the best place for you! Lets find out why.
Affordability
Tennessee real estate is generally very affordable. Of course, like in most places, there are places outside of anyones budget, but the average house price in Tennessee is much lower than most other parts of the US.
With an average sale price of $375,200, against the nationwide average in 2022 of $440,300, Tennessee has a lot of states beat for the prices. That doesnt mean youre missing out on quality. The properties in Tennessee are generally reliably built, and a lot of them come with a good plot of land thrown into the bargain!
Urban Areas
Tennessee is home to some incredibly vibrant cities and cultural centers. Nashville is an essential part of music history, with a thriving culture and arts scene. Thats made it a very desirable spot for a lot of people in the US and beyond. Coupled up with a very strong job market, anyone who owns a property in Nashville right now can expect some handsome returns in a few years time.
Tennessee continues its artistic appeal with Memphis, an integral city to rock and roll. Meanwhile, Knoxville and other beautiful, small, historically significant cities litter the state. Thats a lot of reasons to own property in and around these amazing cities.
Natural Beauty
If theres one thing that will always sell a house, its the location, and Tennessee has some of the most beautiful locations in the US.
From the Great Smoky Mountains and their incredible array of wildlife and stunning scenery to the Roaring Fork rampaging its way through the state and running alongside gorgeous hiking trails and natural wonders, Tennessee is a wilderness lovers dream! So, whether youre buying a house, or just a plot of land, you can be pretty certain therell be an amazing view nearby.
Property Tax
Property tax takes a lot of the romance and joy out of home-owning, but its seemingly unavoidable. However, residents in Tennessee typically pay around half as much property tax per year as the rest of the US! So if youre planning on moving to Tennessee, youll find that youll be able to save up a bit more easily.
Tennessees famously low property tax combined with the generally low cost of living in the area, thanks in part to the lack of any state income tax, makes the state a very appealing place to own property!
Tennessee is a very appealing place to show your interest in the property market, with low prices and low taxes amongst amazing, desirable areas. Tennessee could be the perfect place for you to invest in your property portfolio and take advantage of the amazing property market you find there.