Ready to Move? 4 Budget Cities Near Nashville to Consider
By Erin Holdgate Guest Blogger
Solid income growth and soaring home values earned Nashville the title of the nation’s hottest real estate market of 2017.
Nashville home values rose 13.7 percent in the past 12 months, nearly two times the national average of 6.8 percent. In addition, Nashville’s economic development outpaced the nation’s, turning Music City into a hub for jobs in manufacturing and health care. With this growth, though, comes more expensive price tags for real estate. Right now, the median Nashville listing price is $330,000, compared to last year’s $295,000.
If you’re ready to buy but can’t afford the inventory Nashville offers, consider these less expensive suburbs and cities. Then, when it’s time to move, request a free quote from a nearby moving company. You’ll save yourself time and energy by hiring a professional moving company to load, ship, and unload your possessions into your new home.
Soaring home values aren’t unique to Nashville’s urban core. Home values in La Vergne, a suburb located 20 miles southeast of Nashville, grew by 13.6 percent during the past 12 months, yet price tags remain much lower. The median price of homes for sale in La Vergne is only $193,150, about $136,000 less than in Nashville. Home sellers usually retain the negotiating power in competitive markets like La Vergne, so you can expect to face competition if you’re looking to buy. However, you’ll quickly gain equity in your home: La Vergne home values are forecast to rise 5 percent by next summer. Right now, the median home value in La Vergne is $172,900.
Another growing city is White House, located 27 miles north of downtown Nashville. Listing prices and home values here are higher than in La Vergne, but still significantly lower than in Nashville. The median price of White House listings is $249,900, about $80,000 less than Nashville. The median home value, a number that fluctuates less than listing prices, is $202,300 in White House after a 9.7 percent increase throughout the last year. Nashville’s median home value ($233,000) exceeds the national average of $200,700. White House’s median home value is expected to rise by an additional 3.8 percent during the next year.
In the charming city of Springfield, located 30 miles north of Nashville, home values are also on the rise, yet listing prices remain well below those in Nashville. Although not quite as competitive as La Vergne, the Springfield real estate market is gaining popularity. Home values in Springfield rose by more than 11 percent in the past year, well above the national rate of 6.8 percent, and only slightly slower than Nashville’s growth rate of 13.7 percent. Right now, the median Springfield home value is $141,200, and this number is predicted to grow by at least 4 percent in the next 12 months. The median listing price in Springfield is only $168,500, which is nearly half the price of Nashville’s listings.
If you’re searching for an urban lifestyle but can’t afford to buy in Nashville, consider moving to Clarksville. Located 50 miles northwest of Nashville, Clarksville is the fifth-largest city in Tennessee. Although home values are rising at a pace much slower than Nashville’s, only 3 percent in the past year, Clarksville experienced similar economic growth. The median home value in Clarksville is $146,100, a value predicted to rise at least 4 percent throughout the next year. The median price of Clarksville homes for sale is $187,950, a little more than half of Nashville’s listing prices. This could make Clarksville real estate an attractive option for buyers who don’t want to part with big-city conveniences.
Nashville’s economic boom is driving income and home value growth throughout neighboring cities. Although some markets are more competitive than others, many come with lower price tags than Nashville.