As noted before (as in this post), Nashvile is getting noticed for a variety of reasons. Restaurants are earning high praise from across the world, neighborhoods are flourishing, and new real estate developments are abundant right now. Just this week, this Tennessean article pointed out that Nashville is now among the top 5 cities for apartment growth. According to the article, this trend is not slowing any time soon due to healthy job growth and economy right now.
The downside? Nashville is also experiencing record rent rates, and the prices don’t appear to be slowing either. In fact, according to a separate post in the Tennessean, it’s actually cheaper to buy than to rent these days. If the real estate market continues to take off as expected for home sales in Nashville, this may not last. However, for those moving to the Nashville area, now may be the best time to grab a good house for less than the cost of renting an apartment.
For the future, it will be interesting to see how many renters translate into Nashville home buyers. After all, there’s much to love about this area and once people move here, they don’t often move out.
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