NASHVILLE, Tenn. (WKRN) — The coronavirus pandemic has reshaped how and where people want to live, and Zillow research finds a lot more people want to live in Nashville.
Jeff Checko, a realtor with The Ashton Real Estate Group says he’s having a record year, adding about 70 percent of his buyers for luxury listings are from out of town.
“California, in particular, lately it’s been uncanny,” said Checko.
According to Zillow, half of all Nashville search traffic on the famed real estate site is coming from outside the Metro area, that’s a nearly seven percent year-over-year increase as of July 2020.
A lot of traffic is coming from Los Angeles, but even more traffic is coming from Atlanta and Chicago. In fact, the percentage of search traffic from Atlanta is higher than LA and NYC combined, Zillow data shows.
According to Zillow, the top three origins for searches into the Nashville Metro are:
- Atlanta (5.9% of all searches)
- Chicago (3.4% of all searches)
- Los Angeles (2.9% of all searches)
“You have COVID-19, and how different states have handled that and natural disasters coming from California,” said Checko, “You have perceived issues with protests and potential civil unrest that a lot of people are affected by. You combine those elements with high tax environments and unsustainable budgets and people are ready to move on.”
Jeff Tucker with Zillow says it’s part of a national trend. People are moving out of the big cities into more medium markets like Nashville, TN, and Austin, TX.
He mentioned Los Angeles, New York City, and Chicago has all seen stagnant or even a falling population in the last few years.
“I think if a city embraces newcomers as a source of dynamism and growth I think it can be a win-win for everybody,” said Tucker.
“You can’t retire in a place you’re going to have to need $30,000- $40,000 a year just to pay your taxes,” said Checko. It’s why people are choosing Tennessee, a state with no income tax.
In addition, more people that have the luxury of working from home want more space and are willing to move. Checko says many new faces are flocking to Tennessee, excited to call Nashville home.
News 2 is reporting on Nashville’s historic growth and the growing pains that come with it. Click here for more Nashville 2020 reports.