When will the bubble bust in Nashville?
With all of the recent growth in Nashville, you may be concerned that the bubble is about to burst.
And I understand it 100%.
It’s easy to be gun shy when you can still see the mortgage crisis in the rearview mirror..
So let me tell you why 2017 is not the same as 2007.
In 2007, the top driver of real estate sales was easy access to financing. It was so easy to get a loan in 2007, that all you had to do was sign on the dotted line. Those days are long gone.
Something different is driving Nashville’s market today.
It’s the 80+ people per day that are moving to our wonderful city. And the main reason so many people are moving to Nashville is JOBS.
Forbes ranks Nashville as the 4th best city for job growth in high paying jobs. Here's what they said.
“It starts with our top-ranked metro area, Nashville, Tenn., which has seen business service employment grow 47.2% since 2010 to 152,700 jobs, with 7.7% growth last year alone. Some of this comes from the establishment of branch offices of Silicon Valley companies like Lyft and Everbright, as well as the expansion of the area’s strong health care and entertainment industries."
"Nashville’s appeal to millennials is unsurpassed, with the strongest growth rate in net migration of college-educated people aged 25-34 of any metro area in the country, and the reasons are not hard to find. It’s a charming city located in a temperate part of the country, with both excellent, and affordable, urban and suburban options.”
Barring some national disaster, there is no bubble to burst in Nashville right now.
While some are still on the sidelines, it’s your chance to make your move before the interest rates take a toll on your purchasing power.
If you still have questions, hit reply or give me a call at 615-519-0983.
We’re here for you.
The Daily Deal in Nashville is a 4 Bedroom Brick home in Hunterwood [Brentwood] and is listed for less than $490,000.