Luxury Home Buyers Are Moving to Nashville in Droves. Here’s Why.

Whether it’s the bustling country music scene, the all around Southern charm or the desire for more bang for a real estate buck, more and more high end homebuyers are packing their bags and heading to Nashville. Over the last 30 years, the Music City has seen its population grow by a whopping 81 percent, and, in 2022, it gained approximately 98 new residents a day, according to data from the U.S.

Census Bureau. More recently in November 2023, the Tennessee capital ranked among the top 10 most popular U.S. migration destinations for buyers seeking out affordability, a nice piece of land, and reasonable property taxes, Redfin found . “A lot of Nashville locals have been priced out of homeownership, but when you’re coming from somewhere like California or New York, housing prices here still seem reasonable,” Redfin Premier broker Kristin Sanchez explained in the report.

“Nashville has relatively low property taxes, insurance costs and utility prices, along with no state income tax, all of which definitely help if you’re looking for a lower cost of living.” RELATED: Luxury Hotels Are Flocking to Nashville. Here’s Where to Stay in Music City. Per a recent survey from Nashville Downtown Partnership, close to half (roughly 43 percent ) of residents in downtown Nashville are from out of state.

Between July 2021 and July 2022, 25,000 Floridians relocated to Tennessee, more than the 22,000 who migrated from California, census data found. Just this month, Manhattan based Bravo celeb Lindsay Hubbard of Summer House announced in an Instagram post that she purchased a residence in the so called Athens of the South following her split from fiancé and co star Carl Radke.

Hubbard, however, isn’t planning to relocate and revealed that she’ll be renting the Nashville property out to fans starting in March. Compass agent Rebecca Norris DiNapoli told Mansion Global , “There is a flood of California people coming in, and we’re welcoming that. And they’re buyers who generally want luxury properties.” DiNapoli added that high end homes in Nashville “used to be $2 million to $3 million” range and now, it’s more like “$5 million to $10 million.” “We’ll continue to stay in high demand and for good reason,” Jessica Harrison, a broker at Zeitlin Sotheby’s International Realty in Nashville, told the listing site.

“We’re the No. 4 job market in the country, across all industries. We have amazing infrastructure, great schools, and incredible jobs. And we’ve still got a lot of land, which they don’t have in L.A. We can handle the number of people coming here.” Abigail Montanez is a staff writer at Robb Report.

She has worked in both print and digital publishing for over half a decade, covering everything from real estate, dining, travel and topics….