Markets have been crazy, we went from an over-heating real estate market where in some areas, you couldn’t buy a house at any price. Homes were selling in 24 hours or even before the listing went live. Now, inventories are backing up and while prices haven’t moved down much yet, it looks like they will soon. So where are the great opportunities? Let’s look at the stats from KAAR, the Knoxville Area Association of Realtors. Information is deemed to be reliable, but is not guaranteed. © 2023 Knoxville Area Association of REALTORS and FBS. Prepared by LoveTNLife on Monday, January 16, 2023 11:28 AM.
Number of listings is forming a top. Sold to list ratio looks like it’s bottoming. Even if this tick is just an anomaly, it indicates that at least in Knoxville, TN – things are not going to become obliterated. And that’s logical, because the Knoxville market was not so hot like big coastal cities. The takeaway here is that Tennessee (Ex-Nashville) remains a state where your real estate should maintain value. Here are other reasons to relocate to Tennessee:
- No state taxes!
- Near major East Coast centers, 4 hours to Atlanta, Charlotte.
- Major airports.
- Lots of manufacturing and technical businesses, (not ‘service’).
- A growing EV industry.
- Mostly the state is high and safe from cataclysms such as Hurricanes, and Earthquakes (perhaps this is why Oak Ridge was selected to develop the bomb).
- Family oriented values, dare we say the “C” word – Traditional American Values in a place that supports big strong families.
- Beautiful and dramatic sunsets and sunrises.
- Mostly English speakers (Locals do not have hard to understand southern accents. )
- TN has the record of the state with the most caves! More than 10,000 caves!
- Lots of things to see and do, such as Gatlinburg, Pigeon Forge, and all that is included.
The value you get for real estate in small towns like Knoxville, TN is still decent compared to suburbs of Atlanta, GA for example.
Contact LoveTNLife.com if you are interested in TN residential property, land, or investment properties.