Nashville, Tennessee is nestled in the beautiful rolling green hills of the middle Tennessee Valley located on the Cumberland River. Known as Music City, Nashville is the home of country music, the world class Schermerhorn Symphony Center and the Bonaroo Music Festival. Walk down any street in Nashville and you are bound to hear music streaming out of the city’s street speakers or someone picking on their guitar. Music is everywhere in Nashville. Maybe that is why the people are so darn friendly and why so many businesses are relocating here. Nashville was voted one of the top ten best places to live in 2003 and remains that way to this day.
Buying an investment property in Nashville is a good idea for so many reasons. Nashville is home to numerous colleges and universities such as Vanderbilt University, Tennessee State, Fisk, Lipscomb, Belmont College, Bethel College, Treveca Nazarene University and the Nashville Auto-Diesel College in East Nashville. Rental homes and duplexes are in great demand and fill up fast. Not only for the students, but for the staff that come from all over the world to teach at these prestigious universities. Nashville is a cosmopolitan and multicultural city with something to offer everyone.
Nashville attracts companies like Dell Computers and Nissan to relocate there because of it’s stable economy and great tax benefits. In 2005 Nashville was named the #1 Best City for relocation and expansion. Nashville is home to Bridgestone, Bell South, Am South, The Gaylord Entertainment Center, Purity and the Coca-Cola Bottling company just to name a few of the many big businesses.
Nashville’s economy remains strong amidst the national slump. While the housing prices have dipped a little in the last 2 years they are on the up swing again. This is why purchasing an investment property here makes a lot of sense.
Nashville real estate is still a great value compared to the national average. A residential home in a hip neighborhood such as Hillsboro Village near Vanderbilt University averages about $360,000. A ranch property in picturesque Leiper’s Fork with 20 acres of beautiful green land is had for about $700,000. Not a bad deal compared to a 3 bedroom home in Los Angeles for around $700,000! You get a lot more for your money here in Nashville without all the traffic congestion!
East Nashville, across the Cumberland River is an area that is set for growth. With its neighborhoods mixed with different socio-economic groups, it is on the verge of renewal. East Nashville is a great area to currently find foreclosures in small need of repair that are eager to be renovated and flipped for a new life.
Of course investing in real estate can be tricky if you don’t know all the ins and outs. That’s why you need a qualified realtor who specializes in residential real estate to help you become familiar with the local market.
Call me, Mark Haining, of Village Real Estate Services and I’ll be glad to show you around town. Whether you want city living in the Gulch or the country life in Franklin, we have it all here in Nashville.