People Moving to new states most often choose Texas and Florida, but Tennessee quietly remains a big contender for people planning to relocate. Thousands of them every year decide that they will be moving to Tennessee. For the most part, they make this choice due to the state’s combination of affordability, economic growth, and natural beauty.
Reasonably Pleasant Climate
In terms of climate, Tennessee lands in the Goldilocks zone of being neither too hot or too cold. The murderous heat of the Gulf Coast is still far to the south, and the bitter winters of the Upper Midwest keep their distance.
Is Climate Change Bad? And Should I Move Because of It?
Across the state, the climate varies between humid subtropical and highland. Elevation in the mountainous areas creates a cooler climate. About every 1,000 feet in elevation reduces the temperature by roughly 3 degrees Fahrenheit. Overall, the state gets ample rain that produces a lush hardwood forest, rivers, and lakes.
Hot summers, mild winters, and a green landscape present an environment that most people like to live in. Since many people make choices about relocation due to their weather preferences, the climate certainly makes moving to Tennessee an attractive option.
How Does Tennessee Rank as a Relocation Destination?
The numbers don’t lie. Reports from the U.S. Census Bureau, U-Haul surveys, and demographic research all show that Tennessee has experienced population growth in recent years.
A Sept. 2022 report from MoveBuddha ranked Tennessee as 8th in the nation among states that received new residents from out of state.
In 2020, 176 people moved into Tennessee for every 100 people who moved out.
In 2022, the figure jumped to 180 people coming in for every 100 people moving out.
In 2022, the U-Haul Growth Index ranked Tennessee as 6th in the nation among people moving to new states. The U-Haul data focuses only on people who rented trucks to enter Tennessee. Although it captures a good picture of migration patterns, it only accounts for people who used U-Haul services instead of hiring professional moving companies.
According to the U.S. Census Bureau, Tennessee recorded more births than deaths in 2022 but still had a population increase due to a steady stream of newcomers. In 2022, Census estimates calculated that the state’s population grew by 82,988. Overall, in terms of population growth, the Census Bureau ranked Tennessee as 7th.
Tennessee Low Cost of Living
Cost of living frequently motivates people to move to a new state. Many states and metropolitan areas have punishing housing costs that even people with good salaries find intolerable. Moving to Tennessee presents an option where housing costs are lower. Lower home prices allow people to buy larger homes that make their desired lifestyles possible.
As of the first quarter of 2023, the median home price nationwide was $436,800. In Tennessee, the median home price in the same period came in at $291,354.
On top of lower home prices, the property tax rates in Tennessee are moderate with an average tax rate of 0.71%. Thirty-five states have a higher property tax rate. The property taxes in Texas are significantly higher at 1.80% and somewhat higher in Florida at 0.89%.
The moderate property taxes are somewhat surprising considering Tennessee has no state income tax either. No state income contributes to the lower cost of living in the state. Usually when a state has no income tax, the government makes up the shortfall with higher property taxes, but, as of yet, the property tax picture in the state definitely reduces the cost of housing.
Of course, it’s important to keep in mind that housing affordability is the first thing to go when a state experiences consistent population growth. Housing prices in the state will experience upward pressure but will likely remain low compared to expensive states.
Economic Outlook for Tennessee
The economy is strong in Tennessee with good job prospects in numerous industries, including freight, technology, and healthcare. In the 2023 State of the State address, the governor said Tennessee’s gross domestic product (GDP) went up by 8.6% since 2021.
Tennessee is home to the headquarters of 18 Fortune 1000 companies. Amazon also chose to put in a large logistics hub in the state due to its central location in the country.
In Nashville alone, you will find the corporate headquarters of:
- Tractor Supply
- Dollar General
- HCA Healthcare
- Mitsubishi Motors
- Nissan North America
Moving to Tennessee will place you in a location supported by multiple industries and large employers. The water and land transportation infrastructure and consistent access to water and electricity make the state increasingly attractive to large companies looking for stable access to necessary resources. The state government actively incentivizes companies to set up shop in the state and build the economy.
World Class Natural Beauty
You should not discount the benefits of living in a place that looks beautiful. A lush and picturesque countryside defines Tennessee, which is home to part of the Great Smokies National Park, the most visited national park in the country. No matter what anyone thinks of Tennessee, no one can get away with calling it ugly.
Making a Decision About Moving to Tennessee
Relocating is a big deal and requires careful thought before making a final decision. Overall, the state offers newcomers many advantages and the opportunity to pursue a life close to Nature while accessing the financial benefits of a strong economy.
As you think about moving to Tennessee, start to follow the state’s local news. The news will provide realistic insights about economic advantages and challenges, crime, weather, and politics.
Ideally, you should visit a state before committing to living there. A business trip or vacation is the best way to find out how well you might fit in with the culture and climate.
Plan a visit to TennesseeBooking.com
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