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20 Years of Increasing Tennessee Land Values

Gregory Akerman
 


Visitors: 229

Tennessee is a state that has figured prominently into the course of history in the United States, both in terms of the political and in terms of the economic. The Volunteer State as it has come to be known in popular fiction currently has the 36th largest land area in the United States, but at the same time has the 17th largest population within the United States, largely because of the size and prominence of urban centers such as Nashville and Memphis. There is another thing that Tennessee has been known for in the course of history and that is ever increasing land values.

Modern Tennessee

As most people are aware, almost every place in the United States has land values in the modern age that are quite a bit higher than the land values were 20 years ago in 1988. At the same time however, it is important to realize that many places within the country have been through periods of up and down movement and as a result of wrong predictions many people have ended up losing money in those real estate markets. Tennessee on the other hand has really been growing steadily to the point where even today it has not been hit that much by housing values within the country. There are many reasons as to why this is so.

Urban Reasons

The main reasons are the two massive urban centers in the state, Nashville and Memphis. Nashville has a population of around 1.5 million people and Memphis has a population of around 1.2 million people, making both of them extremely large urban centers. Large urban centers like these tend to have excellent job creation, a diversified economy and the ready availability of many of the different amenities that a person needs in their life and for that reason tend to be very popular places for people to gravitate to when they want to settle down in life. The fact that Tennessee has two excellent places like this is one of the main reasons that real estate values in the state have continued to grow over the years, mimicking the city in that respect.

Suburban Reasons

There are many other urban centers aside from Nashville and Memphis and of course the urban centers of the state are where all the jobs are. The popularity of working in these urban centers has drawn a lot of different people to work in Tennessee and many of the middle class people that work in the state have settled down in the suburban areas of the state. Of course, with increased demand and static supply, the prices begin to rise and the continual increase in popularity of living in a state like Tennessee is exactly why land prices have continued to increase over time.

Conclusion

There are other reasons as to why prices have continually risen in Tennessee, but the bottom line is that investing in the state is a very good idea for anyone that wants their investment to collect money over time.

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