NASHVILLE, Tenn. (WKRN) — The pandemic has fueled a surge of relocations among Americans with many now taking advantage of the ability to work remotely.
Many have left or have plans to leave large coastal cities in search of more space and affordability.
As our job market recovers, data shows out-of-towners are choosing Tennessee.
“Businesses are realizing they can be productive with a remote workforce and they’re moving largely to that,” Jeff Checko, Realtor, The Ashton Group of RE/MAX. ” There’s a lot of reasons why people like Tennessee. It’s our fiscal policy, our culture.
Now that many people are free from a physical office, they can move wherever they want, whenever they want.
“We also are just getting people moving here for jobs. Our economy is so good and Nashville and sometimes people forget how good it is,” Maria Holland, Realtor, RE/MAX Homes and Estates Lipman Group said.
A new job report from Career Builder shows the number of available jobs in Tennessee has increased by 432% since the start of the pandemic, with the Nashville metropolitan area leading the way in job market gains and recovery.
“As far as where people are working, I think I see a mix of people working remotely and those moving here to physically relocate with a company that’s going to have headquarters in Middle Tennessee,” Checko said. “As far as relocations go, we’re seeing more diversity with that it’s not just people coming here to work here, it’s people that are sometimes, especially with COVID, and where people were furloughed and laid off they’re saying, ‘hey, I’m going to start anew and going to pick a place I want to do that.'”
According to a report from 24/7 Wall Street, the Metro Nashville area had an estimated net inflow of 15,786 new residents from July 2020 to April 2021, and our area has a 5.6% less than average cost of living. The report also shows Nashville is attracting people from the West Coast.
Local realtors say the number one area they’re seeing people come from is California.
“That’s probably our number one [feeder market],” Holland said. “Number two has been Chicago, and this past week I had three people from Utah.”
According to online search data from Redfin — a national real estate brokerage — the interest in real estate in Nashville is coming more from the New York metro area more than anywhere else.
“It was already starting to occur when Alliance Bernstein initiated its move before COVID, but now you’re seeing with those heavy restrictions in places like NYC, even though those are hopefully starting to ease, I don’t think businesses want to face that uncertainly in the future. So, Middle Tennessee is very attractive,” Checko said.