The Nashville Chamber of Commerce President, Ralph Schulz, announced that within the next five years roughly 200,000 new residents are expected to move to middle Tennessee. This is about 40,000 people per year or 109 people a day. These new residents are expected to migrate from Chicago, Los Angeles, and New York. So, what does this mean for Nashville’s already hot real estate?
Nashville is a commuter city, with many of its workers living in surrounding counties such as Williamson, Wilson and Rutherford. It is to be expected that within the next 5 years, the majority of the 200,000 migrants will wound up in counties such as Rutherford.
Rutherford County has one of Tennessee’s hottest real estate markets. It was recently revealed that four of Nashville’s top ten most popular zip codes are in Rutherford County. Similar to areas such as Franklin, TN in Williamson County, Murfreesboro offers a small, hometown feel. In addition, the school systems are also pretty great compared to the other 128 school districts in Tennessee.
Due to local jobs and the population growth of Nashville and the surrounding middle Tennessee areas, the Rutherford County population has drastically increased over the past couple of years. Yet, the housing market is still more affordable than Davidson and Williamson. According to realtor.com, the median price of a home in Rutherford County was $360k in December of 2021. Meanwhile, the median listing price in Williamson was $742k and $400k in Davidson.
Homes in Rutherford County usually stay on the market for about 21 days and the average price for square foot is now $197. The real estate market in Rutherford County is bound to stay hot for the next few years. With easy access to the interstate, proximity to Nashville, a more affordable housing market, and an overall high quality lifestyle, it is clear why Rutherford holds four of the top ten zip codes spots.
