Narrowing down the best places to purchase a house in Tennessee can be challenging as there are countless factors to consider beyond getting a good return on investment. Job opportunities, amenities and crime rates are all crucial areas to investigate before relocating to a new home. While buying your very first house in Tennessee is an exciting milestone, it is normally met with a bucket list of decisions. What is your budget? What are your non-negotiables? And, most importantly, where should you buy a house in Tennessee? When you are purchasing a house in Tennessee as an outsider, one that is crucial is the location. It should be a place where you can obtain a decent value appreciation. So, whether you rent it out or reside there, you will have handsome returns when you sell your house later.
If you want to hone your Southern hospitality skills, Tennessee may be the best place to purchase a house for you and your family. Tennessee is widely known for its amazing musical hotspots like Nashville, otherwise known as a Music city, and Memphis, the home of blues and rock ‘n’ roll music. If you are an outdoor enthusiast, Great Smoky Mountains National Park is just near your doorstep. With its low property taxes, affordable cost of living, and lack of income tax, it is no wonder why Tennessee is ranked number one on the list of the best places to buy a house in the United States. This post has compiled a list of places to purchase a house in Tennessee.
Top 6 Places to Buy a House in Tennessee in 2023
1. Nashville
Nashville has a rich legacy that only a few American cities can rival. Commonly referred to as the Music City, Nashville is famous for its attractions like the Music City Convention Center and Grand Ole Opry. Aside from that, Nashville has seen great growth in its job market and population. This growth has led to a higher demand for housing, making it an attractive option for property investors.
People prefer to buy a house in Nashville because of the city’s important lifestyle factors. For instance, the city has a vibrant economy with amazing economic opportunities, a modest cost of living, low-income taxes, and great jobs. As a new homeowner in Nashville, you will never lack things to see and do after getting settled in your new abode. Sports, music, and an array of entertainment spots to go abound in Nashville. Whether you are searching for a family weekend outdoors in the mountains, a raucous night of live music, or a weekend outing at a world-class resort, Nashville will not let you down.
2. Knoxville
Knoxville TN boasts of a low cost of living, a growing job market, and a friendly feel. These reasons (plus much more) have made the city earn a spot as the best place to buy a house in 2023. There are several reasons why buying a house in Knoxville TN could be a great choice. Some of the reasons include a diversified economy, a landlord-friendly environment, vibrant rental market, and affordable houses to buy.
Knoxville is also the getaway to the famous Smoky Mountains. These mountains are part of the great Appalachian Mountains and a national park that hosts salamanders and around the tropics and bears. People want to buy houses in Knoxville because of its proximity to the national park and easy access to other areas of Tennessee. Living in Knoxville provides a suburban feel and most people buy or rent their homes.
3. Murfreesboro
Murfreesboro, also known as the “Boro” by the natives, is a city widely known because of its history of the American Civil War. It is regarded as one of the fastest-growing cities in Tennessee, drawing residents from all over the country. Murfreesboro is also the home of Middle Tennessee State University but it has much more to provide. There is so much to appreciate about Murfreesboro from the affordable cost of living to its rich civil war heritage.
Additionally, there are many fun recreation activities that you can do in Murfreesboro. For instance, if you are an outdoor enthusiast, there are more than 12 miles of paved trails together with trailheads. There are also many restaurants to select from, such as Your Pie and Donut Country which remain till midnight to help you buy the hot glazed donuts. The real estate market in Murfreesboro is competitive and diverse. The median cost of buying a house is more than $300K. But don’t make a blunder, you will get a lot of value for your hard-earned dollars.
Looking for a Home? Houses For Sale in Murfreesboro
4. Chattanooga
Chattanooga is one of the most overlooked cities in the United States. Situated in the South Eastern Part of Tennessee, the city is located in the foothills of the Appalachian Mountains and along the Tennessee River. It is also on the border between Tennessee and Georgia. So, residents can have access to Atlanta and Nashville. But buying a house in Chattanooga will bring your family fun with the numerous outdoor activities and many state parks available.
5. Memphis
Memphis has been known for many things: the blues, barbecue pork, and Elvis’ Graceland, but it is also home to one of the most affordable houses in the country. That said, people are flocking to Memphis to take advantage of affordable houses. Besides, Murfreesboro natives have many choices when it comes to delicious restaurants, Gus’s which is regarded as the world-popular fried chicken is a tradition here with its spicy and hot fried chicken. Additionally, when you buy a house in Memphis TN, you can benefit from high affordability, low vacancy rates, and job growth.
6. Franklin
Franklin is situated on the southern side of Nashville. Offering residents with a suburban feel, the price of houses is 9% lower than the national average. Most of the residents here own their houses and there is a great suburban vibe. There are a lot of parks, entertainment joints, cafes, and restaurants spread throughout the city. Not only will your family enjoy a lively entertainment city, but also your children will go to the best schools in Tennessee. The cost of a median house will be about $400k while luxury homes are listed for more than $700k. However, Franklin has a deep legacy of the American Civil War, thus creating a perfect blend of historic and modern culture-making it is one of the best places to buy a house in 2023.
We don’t know if buying a house in Tennessee is your next step, but a lot of people have answered this question with a resounding yes! Living costs are limited, great job prospects and you will never lack things to do in Tennessee. Visitors often come for weekends in the Volunteer State and realize instantly after leaving that they want to make Tennessee their next home.
