Surge in the Tennessee Real Estate Market
The real estate market in Tennessee is experiencing a significant upswing! Driving around downtown Nashville reveals an influx of license plates from all corners of America. People from the northeast, midwest, and southeast are flocking to Tennessee in droves, and it’s not hard to see why. With its mild climate, affordable housing, excellent healthcare facilities, and stunning views of the Great Smoky Mountains, Tennessee offers an exceptional quality of life. Moreover, Tennessee is emerging as one of the top states for retirees.
Why Tennessee Is Ideal for Retirees
Increasing numbers of retirees are choosing the Volunteer State as their ultimate destination for retirement, and for good reason.
Affordability
Tennessee boasts a generally affordable cost of living. While the influx of residents may lead to rising house prices, there’s still great value to be found in the housing market. Cities like Nashville, Memphis, Chattanooga, and Knoxville are witnessing new home developments, ensuring options for retirees at various price points.
Tax Advantages
Remarkably, Tennessee offers favorable tax rates for retirees. There’s no capital gains tax on retirement income, providing a significant financial benefit for those living off pensions or 401(k) funds. Additionally, the property tax rates are relatively low compared to national averages, making Tennessee an attractive choice for retirees looking to maximize their savings.
Mild Climate
Tennessee enjoys a pleasant climate that strikes a balance between harsh winters and sweltering summers. With its four distinct seasons, retirees can experience the beauty of changing landscapes without enduring extreme weather conditions, making it an appealing choice for those seeking a moderate climate in their retirement years.
Scenic Beauty
The natural beauty of Tennessee is unparalleled, with the majestic Great Smoky Mountains serving as a breathtaking backdrop. The state also boasts picturesque lakeshores, rolling hills, and expansive farmland, offering retirees endless opportunities to immerse themselves in nature’s splendor.
Rich Culture and History
Tennessee’s rich cultural heritage, exemplified by its vibrant country music scene and renowned Southern hospitality, resonates with retirees seeking a laid-back lifestyle. Whether enjoying the charm of small-town communities or exploring the bustling cities, retirees can indulge in a plethora of entertainment options and immerse themselves in Tennessee’s storied history.
What Is The Best Place To Retire In Tennessee?
This is a common inquiry we receive here at Lakefront Living Realty. With an abundance of desirable cities to consider such as Memphis, Nashville, Chattanooga, and Knoxville, selecting just one can be a daunting task. Instead of singling out a sole location, we’ve compiled a comprehensive list of the top 10 best places to retire in Tennessee.
#10 – Chattanooga
If you want to embrace mother nature and all her beauty, consider moving to Chattanooga. Between the banks of the Tennessee River and Appalachian mountains, you’ll be surrounded by beauty 365 days a year. Not only is Chattanooga a pretty place to call home, but it is also well known for being affordable. The median home value is $230,000 per year.
#9 – Memphis
Despite having a population of over 650,000 people, Memphis still very much feels like a small country town. Situated on the great Mississippi River, Memphis has a unique character that cannot be duplicated in any other city on our list. There are plenty of activities to do inside of the city, or if you’re looking for a more laid back lifestyle in your retirement years, the suburbs of Memphis and neighboring communities make for a great place to call home. The median home value is on the low end, so you’ll really be able to stretch your retirement dollar here!
#8 – Murfreesboro
Well known for its American Civil War History, Murfreesboro makes our list at spot number eight. The affordable median home price of $250,000, and affordable tax rates, make this area a great place for retirees to live. Retired residents can enjoy playing golf at the Old Fort Golf Club, or relax at one of the beautiful outdoor parks. The large Middle Tennessee State University campus keeps the city young at heart, and you’ll enjoy plenty of entertainment, shows, and restaurants in the heart of downtown Murfreesboro.
#7 – Knoxville
Situated just an hour north of the great smoky mountains national park, and home to the legendary University of Tennessee college football team, Knoxville surely makes our list of best places to retire in Tennessee. The city of Knoxville is located in East Tennessee and is nearly 1/4 the size of Memphis with a population of 180,000 people. Housing is rather affordable with the average home price being $215,000.
PRO TIP: See homes for sale in Knoxville
#6 – Nashville
Located in Davidson County, Nashville has our heart and is arguably the gem of Tennessee. There’s no question Nashville makes our list of best places to retire. The residents here not only enjoy an international airport which makes traveling convenient, but they are also spoiled with amazing food choices, an endless amount of live entertainment, over 100 parks, and plenty of social clubs and recreation activities all across the city. Between the art scene, and the birthplace of country music, this is undoubtedly amongst the best places to retire in Tennessee.
#5 – Oak Hill
Although this area is more expensive than other areas of Tennessee, Oak Hill is attracting more and more retirees. This is far enough outside of Nashville if you’re seeking a laid back lifestyle, but just a short drive into the city where you can enjoy tons of shows, plays, concerts, restaurants, and museums.
#4 – Pigeon Forge / Sevierville
Just 40 minutes west of the North Carolina border sits Pigeon Forge. We promise, there is nothing more satisfying than having your morning coffee on your back deck overlooking the natural beauty of the great smoky mountains. No matter the season, the smoky mountains of Tennessee will always be a magnificent sight to see. Pigeon Forge is a small town that is well known for its amazing retirement benefits. The low cost of living, pretty views, and ease of access in and out of larger cities, makes this one of the best places to retire in Tennessee.
PRO TIP: See homes for sale in Sevierville
#3 – Franklin
Why is Franklin one of the best places to retire in Tennessee? Franklin is not only a historically rich town, it’s also an affluent town. The active downtown surely promises a great culture. With plenty of restaurants to choose from, museums, and a fantastic music culture, Franklin is nothing shy of an amazing place to be. Your life can be as active as you’d like. There are plenty of outdoor activities to choose from. From walking trails, various parks, and several public golf courses, it’s no secret why the population is on the rise!
#2 – Kingston Springs
Kingston Springs is a beautiful town located in Cheatham County just 20 miles southwest of the big city (Downtown Nashville). The population is shy of 6,000 residents. Residents of Kingston Springs love the several outdoor adventures this rural town provides. Between hiking, fishing in the river, golf, or canoeing, you won’t be bored here. Kingston Springs is an incredibly safe place to be with a very low crime rate. Better yet, if the outdoor activities do not keep you busy, you can drive 25 minutes to Downtown Nashville and enjoy all this large metropolitan city has to offer. Most homes in Cheatham County are on over an acre of land so Kingston Springs is our pick for retirees who prefer some privacy.
#1 – Tellico Lake
The Tellico Lake community tops our list as the best place to retire and for good reason. Anywhere along Tellico Lake is nothing shy of a dream. The lake is 33 miles long and provides over 357 miles of beautiful shoreline. Entertainment and recreation activities are endless. Between boating, fishing, golfing, hiking, and walking trails, you’ll love spending your life on the lake! Roughly an hour drive to the smoky mountains and half an hour away from Knoxville, Tellico Lake provides the best of both worlds.
PRO TIP: See homes for sale on Tellico Lake
Areas to Avoid While Tennessee offers many desirable retirement destinations, some areas may not be as suitable due to various factors:
- Davidson County: Rising property taxes may deter retirees seeking to minimize expenses.
- Dyersburg: High crime rates and limited development make Dyersburg less appealing for retirees.
- Jackson: With a significant poverty rate and safety concerns, Jackson may not be an ideal retirement destination.
Retire in Tennessee with Ease Whether you prefer an active retirement community or a secluded mountain retreat, Felix Homes is here to assist you in finding your dream retirement home in Tennessee. Our personalized approach ensures that your unique preferences and goals are met, allowing you to embark on the next chapter of your life with confidence and peace of mind.
Posted by Kody Millikan – Lakefront Living Realty
With excerpts from original article posted by Felix Homes