Market Watch: Nashville

When you hear the name of this city, most people think of country music and the Grand Ole Opry. But when investors hear its name, they think…money.

Nashville, the second largest city in Tennessee, is our next stop on our Market Watch list of cities that you may not think are ripe for the picking in flipping. It even made Forbes list for best cities for investing in 2014.
Full List: Where To Invest In Housing In 2014

It seems Nashville has the tri-fecta of stats that the experts want to see. High population, job growth, and relatively low home prices make this city and all that possess those factors low-risk investment opportunities for buyers who are smart and know not to overpay.

“Nashville’s low unemployment rate, coupled with strong population, job growth rates and home prices averaging 16 percent below market value, makes it an ideal market for investing in single-family homes as rental properties,” said Ingo Winzer, president and founder of Local Market Monitor, which tracks local housing prices.

Another positive for Nashville is it consistently ranks among the lowest for cost-of-living in comparable cities across the nation, ranking more cost-efficient than Atlanta, Austin, Tampa and Indianapolis. The overall cost of living is 10.2% less than the national average, and 0.5% greater than the Tennessee average. All components (groceries, housing, utilities, etc.) of cost-of-living are typically below the national average.

Let’s look at some of the city’s statistics.

Average Home Price: $199,506
Pop.: 1,582,264
Actual Home Price: $199,506
Equilibrium Home Price: $238,411
Difference: -16%
3-year Growth Forecast: 23%

Major industries in Nashville include: Automobile Production, Finance, Health Care Management, Higher Education, Insurance, Music Production, Printing & Publishing, Technology Manufacturing and Tourism.

To learn more about Part-Time REI visit us at http://part-timerei.com/

Or connect with us  

Erik Hitzelberger has been Real Estate Investor since 2007. While learning the ropes in the market down-cycle, he now teaches others how to use his systems and leverage other people’s expertise to achieve their own goals.

Erik Hitzelberger – who has written 194 posts on Part Time REI.

---