Tennessee’s capital is feeling the burn of inflation, as everything from housing prices to childcare and utilities soars. Now, even long-time residents are considering whether it’s time to go.
Population boom: Along with numerous Sun Belt cities, Nashville has seen an unprecedented population growth in recent years (mostly from more expensive coastal cities), prompting the increased living costs that have pushed some Nashville natives out of their now unaffordable city.
Hit hardest: “I love that Nashville is growing, but so many people are coming here to the point that I can’t afford to put my kids in daycare,” said 23-year-old Tianna Martin, a Waffle House cook and mother of two who has lived in Nashville all her life. From groceries and gas to rent and childcare, she says “it’s just not worth it” to live in the city anymore.
By the numbers: Those looking to buy a house in Nashville are seeing home prices and values skyrocket, with median sale prices of $423,105 compared to the national average of $337,560. Nashville utilities have also been pricier than the national average since 2009, and neither inflation nor the sudden population growth are helping.
Credit: CRE Daily Newsroom