Earliest this month, national real estate website Zillow listed Nashville as the hottest housing market in the country for 2017, which was hardly surprising to those of us who already live here and have been watching Middle Tennessee’s real estate market sizzle for the past 12 to 18 months.
But along with Zillow, it appears Forbes is also jumping on the Nashville bandwagon, claiming it’s also one of the best places to invest in a home in 2017 as well. According to their release, Nashville ranked 8th overall, attributing 9% annual home price growth and 2.7% annual job growth as the primary reasons why a Nashville home investment this year might pay dividends in both the short and long-term. Also noted was that Nashville has seen a 6% three-year population growth, which places it among the fastest growing cities on the Forbes list of 300 markets. And despite the rise in home prices throughout much of the Middle Tennessee area, homes for sale in Nashville could still actually be under priced by 7% as housing demand here continues to skyrocket.
As of now, the average home price in Nashville is just $249,000, which is still well below the national average of $268,000. Topping the Forbes list of best places to invest in housing in 2017 was Dallas, Jacksonville, Orlando, and Seattle.