The city of Nashville is found on a number of lists of top cities throughout the United States. Recently, it was named to another top list from Forbes.com. This list ranked Nashville fourth on the list of the "Best Buy Cities" for 2014. Forbes included Murfreesboro and Franklin as a part of Nashville in the study and the list.
The top ten areas found on the list includes:
- Fort Worth-Arlington, Texas
- Dallas-Plano-Irving, Texas
- Charlotte-Gastonia-Concord, NC-SC
- Nashville-Davidson-Murfreesboro-Franklin, Tennessee
- Houston-Sugar Land-Baytown, Texas
- Atlanta-Sandy Springs-Marietta, Georgia
- Oklahoma City, Oklahoma
- Orlando-Kissimmee, Florida
- Las Vegas-Paradise, Nevada
- Boise City-Nampa, Idaho
Nashville is in the fourth spot on the list with a population of 1,582,264, an average home price of $199,506 and a growth forecast of 23% over the next three years.
What Does this Mean for the City?
Since the study done by Forbes looked at the highly populated areas, home prices and job growth, it's safe to say Nashville is still considered an undervalued area that's growing. For those looking to buy a home in Nashville, it means you will be making a good investment into a stable real estate market.
However, one of the things Nashville has seen over the past year is a low inventory of homes compared to the demand. This is good for sellers, but can make it a bit harder for the buyers.
It's always a good idea to have everything in place before you start shopping for a home. Make sure you have your down payment ready and a pre-approval from the mortgage company. This will make the process go much faster and you will have a better chance of getting the home when you submit your offer.
Whether you plan to relocate or you plan to move from renting to homeownership in Nashville, you can feel confident knowing the city is considered the fourth best buy on the list from Forbes.com.
The Ashton Real Estate Group of RE/MAX Advantage
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