The Buzz on East Nashville
Over the last decade, East Nashville house prices have been surging. East Nashville is an up-and-coming district of the city which has gotten everybody talking. The area has experienced significant growth and has garnered a national reputation as a hotspot for hipsters, thanks to sustained coverage by online travel magazines, like Budget Travel and Thrillist. East Nashville has been described as Nashville’s version of New York’s East Village, an area teeming with cool bars, restaurants, and venues. It covers the region across the Cumberland River and incorporates four distinct districts, or “hoods,” including Inglewood, Greenwood, Lockeland Springs and Five Points.
Part of the reason the area has seen such interest is thanks to its location. East Nashville is close to the downtown area, meaning that it is just a hop, skip and a jump from the location of some of the world’s most prestigious companies and a great spot for young professionals. It is also is situated close to the city airport which is bypassed by Route 40 and is connected to the surrounding area by major interstates which weave their way out of the city to the east and south. People travel to the city from far and wide to be close to its buzzing commercial heart which has pushed up demand for housing over the river, as well as prices.
Although there was a dip in the population of East Nashville after 2000, the number of people wanting to live in the area is growing again. Since 2010, the population has gone up by more than 2.3 percent. Compared to the rest of the country, East Nashville is still relatively young, with the average person in the community of more than 45,000 only 35 years old. The consequence of this young demographic is that the area has gained a bit of a hipster reputation, although Rolling Stone magazine recently said that the area was more “hot” than hip.
It’s not hard to see why it has gained this reputation. Entertainment events are practically a daily occurrence, with hundreds of gigs organized every year. There’s something for everybody here, from the so-called “Vine To Glass: Wine Bootcamp” to The Farrell Violin Concerto at the Schermerhorn Symphony Center. What’s perhaps more striking is the sheer rate of cultural activity in the city. Log on to a local community site like the East Nashvillian, and you’ll find at least half a dozen things to keep you entertained every day of the month – if not more.
The city also plays host to a range of exciting restaurants and bars, many of which hold happy hours offering cut-price drinks. Rumours East, for instance, an up-and-coming Craft Cocktail and wine bar housed in a rustic 1900’s Victorian building has a happy hour between 5:00 pm and 6:30 pm every night of the week. Other bars, like Lockeland Table, The Crying Wolf and The Hop Stop all offer happy hours at around the same time, with regular drinks as well as cocktails priced as low as $2.
Vogue magazine recently published a piece extolling the virtues of East Nashville’s food scene, thanks to the diverse neighborhood just over the Cumberland River, describing it as Nashville’s “coolest neighborhood.” Part of that charm is thanks to eclectic eateries like the Butcher & Bee, an Israeli-themed restaurant which attempts to recreate the tastes of the Jewish homeland. With the rise of “clean eating” among the younger generation, there are also restaurants here which cater to dietary requirements, like the Amot Eatery which serves East Nashville’s growing vegetarian, vegan and gluten-free community.
House Prices And Opportunity
Despite the cultural melting pot and attractiveness of the area, house prices in East Nashville, also known as “East Nasty,” are still relatively low. While places like Dallas, New York City and San Francisco have seen tremendous growth in the price of property, East Nashville represents a buying opportunity for the savvy would-be homeowner.
Nashville is a city ripe for house price increases in the future. Not only is the city widely considered to be in the ascendancy economically, but thanks to East Nashville, it’s also a place which can draw in young people to fuel the economy in the future. For people coming from the bi-coastal areas, prices in East Nashville will seem refreshingly cheap.
The cost of living is low here too. The south has always had historically lower wages than the North East or the West Coast, and this means that non-tradable goods and services, like restaurant food, haircuts, and local entertainment, are much cheaper than in the rest of the country. For instance, Nashville Guru reports that you can pick up bites to eat from outfits like Two Ten Jack for as little as $3.
Nashville, like many older cities in the US, has a hodgepodge of architectural styles. The city’s architectural inspiration, however, comes from the early to middle Victorian era, the time of the Gothic Revival, characterized by pointed arches and gingerbread trim. After that came the Italianate style, which grew in popularity up until the 1880s, influencing many of the older house located in East Nashville near the Cumberland River. At the end of the Victorian period, housing styles shifted again, taking on features of classical Greek and Roman buildings, like columns.
At the beginning of the 20th century until the Great Depression, craftsman-type homes became increasingly popular. Though ignored for the rest of the 20th century, this style of house is now in vogue again, thanks to the restoration work done by architects all over the city. Homes in East Nashville come in a variety of shapes and sizes, including single-family dwellings as well as multi-family units.
The final reason East Nashville homes are trending upwards is thanks to the national recognition of the area. That national magazines, like Vogue and Rolling Stone, are showing an interest in the scene indicates that the area is fast becoming a cultural hot spot. Not only is East Nashville known for its hipster scene and it’s incredible music, but it’s now widely recognized as a great place to live, thanks to a thriving business environment and innovative bike share program.
Is East Nashville Right For You?
Contact one of our real estate experts to learn more about this thriving community and decide for yourself if East Nashville is the right place for you.