Top Reasons Homebuyers Are Moving To Tennessee

Top Reasons Homebuyers Are Moving To Tennessee

Gustan Cho Associates are mortgage brokers licensed in 48 states

This ARTICLE On The Top Reasons Homebuyers Are Moving To Tennessee Was PUBLISHED On October 22nd, 2019

The housing market is hot. The economy is hot.

  • Americans are going through the longest bull economic market in the history of the U.S.
  • The country has been getting great economic news quarter after quarter
  • The lowest unemployment numbers in 50 years
  • Record new job numbers month after month
  • Increasing home prices year after year
  • Lowest mortgage rates since the 2008 Great Recession
  • Record household income in decades
  • More and more renters are becoming homeowners
  • Unfortunately, not all states are enjoying the rewards of this great economy
  • Many high-taxed states like New York, New Jersey, California, Illinois are seeing countless residents flee their state to other lower-taxed states
  • One of the popular states taxpayers of high-taxed states are fleeing to is Tennessee

In this article, we will cover and discuss Top Reasons Homebuyers Are Moving To Tennessee.

One Of The Top Reasons Homebuyers Are Moving To Tennessee Is The Economy

The economy in Tennessee is booming.

  • The state is raking in billions by attracting new businesses and taxpayers to Tennessee
  • The state has no state income taxes while states like California, New York, and Illinois are increasing state income taxes due to their budget deficits
  • Nashville, for example, is one of the hottest cities in the United States
  • Nashville has been ranked in the top ten cities to live and work
  • This is because of the abundance of great paying jobs, low taxes, and affordable housing prices
  • The city has over 1 million residents
  • The unemployment numbers are well below 1.5% in Nashville
  • The city is currently experiencing more jobs than available workers
  • There is a major demand for jobs in Nashville and other cities throughout the state

Sectors in government, law, accountancy, banking, technology, medicine, manufacturing, and tourism are among the highest paid in Tennessee than any other state.

Low Cost Of Living And Affordable Housing

Tennessee has no state income taxes.

  • This attracts countless residents
  • Many folks in high-taxed states are making an exodus to the Great State of Tennessee
  • Average home prices of $289,000 make the state as having one of the most affordable housing markets in the nation
  • Demand for housing is high with inventory becoming scarce
  • However, there is plenty of land for homebuilders to build
  • Homebuilders are thriving throughout the state
  • The average market time on homes listed is less than 20 days before it goes into contract
  • Tennessee is ranked in the fourth position as the state with the lowest tax rates
  • The state and most cities in Tennessee are in great financial position with plenty of reserves

Homeowners do not have to worry about constantly rising property taxes year after year. The state’s per capita debt of $913 is the lowest of any state in the nation.

Great Weather Year Around

What's the weather like all year in Tennessee?

The weather is phenomenal throughout the state of Tennessee.

  • Those who enjoy the four seasons will enjoy the weather of the state
  • Spring breaks in April with average temperatures in the 70’s
  • The average temperatures during the summer months are 80 to 90 degrees
  • Trees are abundant throughout the state
  • Fall brings a beautiful landscape with colorful leaves throughout the state
  • Residents who love snow, there is an average of 7 inches of snow during the winter months

The state has the best of the best in the economy, landscape, friendly people, and places to visit.

New Mortgage Programs For Out Of State Homebuyers

Gustan Cho Associates Mortgage Group offers various mortgage programs for out of state homebuyers. Remote wage earners can purchase a primary owner occupant home in any state they want. Homebuyers on disability, social security, and retirement income are eligible to purchase homes out of state. Gustan Cho Associates has no lender overlays on government and/or conventional mortgage programs. We also offer non-QM loans and bank statement loans. Non-QM loans are alternative mortgage programs for borrowers who do not qualify for government and/or conventional loans. For more information about the various mortgage programs Gustan Cho Associates has to offer, please contact us at 800-900-8569 or text us for faster response. Or email us at The Team at Gustan Cho Associates is available 7 days a week, evenings, weekends, and holidays.

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