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Luxury home buyers are moving to Nashville in droves. This is why.

Whether it’s the vibrant country music scene, the all-around Southern charm or the desire for more value for real estate, more and more luxury homebuyers are packing their bags and heading to Nashville.

Over the past three decades, the Music City has seen its population grow by a whopping 81 percent, adding about 98 new residents per day by 2022, according to U.S. Census Bureau data. More recently, in November 2023, Tennessee’s capital was among the top 10 most popular U.S. migration destinations for buyers looking for affordability, a nice piece of land and reasonable property taxes, Redfin found.

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“Many Nashville residents have been priced out of homeownership, but if you’re from anywhere in California or New York, home prices here still seem reasonable,” Redfin Premier real estate agent Kristin Sanchez explains in the report. “Nashville has relatively low property taxes, insurance costs and energy prices, and no income taxes, all of which certainly helps if you’re looking for a lower cost of living.”

Nashville Migration Home BuyersNashville Migration Home Buyers

Nashville was a top 10 migration city in 2023 for people moving from more expensive countries.

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According to a recent Nashville Downtown Partnership survey, nearly half (about 43 percent) of downtown Nashville residents are from abroad. Between July 2021 and July 2022, 25,000 Florida residents moved to Tennessee, more than the 22,000 who migrated from California, census data shows. Just this month, Manhattan-based Bravo celeb Lindsay Hubbard Summer house announced in an Instagram post that she bought a home in the so-called Athens of the South following her divorce from fiancé and co-star Carl Radke. However, Hubbard has no plans to move and revealed that she will rent the Nashville property to fans starting in March.

Compass agent Rebecca Norris DiNapoli told Mansion Global: “There is a flow of people coming in from California, and we welcome that. And they are buyers who generally want luxury real estate.” DiNapoli added that the more expensive homes in Nashville “used to cost between $2 million and $3 million” and are now closer to $5 million to $10 million.

“It will still be in high demand, and for good reason,” Jessica Harrison, a broker with Zeitlin Sotheby’s International Realty in Nashville, told the listing site. “We are the number 4 labor market in the country, in all sectors. We have great infrastructure, great schools and great jobs. And we still have a lot of land, which they don’t have in LA. We can handle the number of people coming here.”

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