Tennessee Real Estate and Livability Trends

In Tennessee, median home values have surged from $142,100 in 2015 to $232,100 in 2022, outpacing national growth rates. This trend could signal a robust real estate market with appreciating assets, potentially appealing for investors despite rising property taxes and concerns over housing affordability. The average residential energy tax credit per tax return in the state has also seen notable... fluctuation, peaking at $1671.24 in 2018 before stabilizing around $1026.70 by 2021, highlighting a growing focus on energy efficiency. Concurrently, real estate taxes have increased sharply, doubling from $2,535.96 in 2012 to $5,060.06 in 2021, possibly reflecting booming property markets or tax rate adjustments. Meanwhile, the percentage of farm tax returns has slightly declined over the past decade, potentially indicating shifts in the agricultural sector's financial health and its interplay with local real estate. Read more

Tennessee has seen a marked increase in average taxable income per tax return, jumping from approximately $52,913.39 in 2013 to $82,520.43 by 2021. This rise could hint at a robust local economy, catching the eye of investors, real estate developers, and insurance professionals. Additionally, the state’s average income taxes have surged, with a notable spike from $7,918.79 in 2012 to $22,244.48 in 2021, particularly increasing by over $5,000 in 2021 alone. Coupled with a general uptick in... total tax liabilities, these trends might impact property values, economic opportunities, and tax planning in Tennessee. Read more

Tennessee has noted considerable changes in property crime over the past five years, with Fraud seeing the highest figures, peaking at around 31,555.00 in 2018 before dropping to 17,253.00 in 2022. Arson cases also decreased from 4,123.00 in 2019 to 3,303.00 in 2022. Motor Vehicle Theft remained relatively low, between 400.00 and 800.00 incidents. Decreasing trends in Vandalism and Larceny-Theft suggest possible improvements in property security. These shifts could interest investors and... homebuyers as they reflect evolving safety dynamics in the state. Read more

Tennessee's population showcases a modest gender gap with slightly more females than males. Educationally, high school graduates and those with some college education constitute significant portions of the population, hinting at a strong emphasis on secondary education. A notable age distribution sees a substantial number of residents in the 25 to 54-year bracket, implying a considerable workforce population. In terms of racial diversity, the majority of Tennesseans identify as White, while... African Americans represent the largest minority group at about 1.13 million people. These demographics paint a broad picture of a state with a diverse age and racial composition, robust educational attainment at secondary levels, and a relatively balanced gender distribution. Read more

In Tennessee, a strong conservative trend is evident from the 2020 U.S. Presidential Election, where approximately 60.66% of voters favored Republican candidates. Despite this, a sizeable 37.45% backed Democrats, hinting at a notable, though not dominant, liberal faction. Other parties struggled to gain traction, with their combined votes barely hitting... 1.89%. Read more

Over the last decade, Tennessee's student-to-teacher ratio has generally hovered around 15, peaking at 16 in 2020 and then dipping to just under 15 by 2023. Real estate professionals might see these figures as a signal of classroom crowding trends, affecting school quality and neighborhood desirability. Lower ratios closer to the national average of 14 students per teacher could indicate better learning environments, potentially making areas more attractive to families and impacting property... values. Understanding these trends can be crucial for investors, homebuyers, appraisers, and insurance agents evaluating the state’s property market. Read more