Nashville: Economy,Taxes, AffordabilityAttract Affluent Buyers

Nashville continued to be one of the country's hottest real estate markets in 2022,leading the nation in the luxury housing market Corporate relocation and the growing popularity of working remotely, fueled demand.Affluent,cash-rich buyers leaving areas with punishing taxes were drawn to Nashville's strong economy,unburdened by a state income tax The affordability of the region meant buyers could get more for their money

Green Hills,a trendy,affluent suburb of Nashville,saw home prices soar due to low inventory and increased demand from buyers wanting to live near upscale shopping,dining and lifestyle amenities The average sales price rose from $11million to $15 million from December 2021to December 2022,a 37% increase in one year

In Brentwood,another highly desirable,upscale suburb of Nashville,the average sales price rose 17%,jumping from $1,1million in Dec 2021to $13 million in Dec 2022,according to Realtracs,the area's multiple listing service

Inventory levels,(monthly supply of homes for sale),remained low,with less than a 3 months supply of available homes on the market

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