NASHVILLE, TN (WSMV) - Dozens of people are moving every day to Nashville. Unfortunately, these moves are putting a strain on businesses and the housing market.
According to real estate experts, around 82 people a day are moving to Nashville, and that number is steadily growing.
"People are moving here from New York, Los Angeles," Chief Economist for Redfin Daryl Fairweather said. "Nashville is very affordable compared to some of those expensive coastal cities."
Nashville has an appealing job market with new companies moving here every few months. It's also a big city with lots to do and, for some, it's a cheaper housing market compared to other cities around the country. In fact, in 2020, more than half of homes sold in Music City were from people moving from out of state.
"The out-of-town pressure on our market is huge," Jeff Checko, Relocation Director at RE/MAX Advantage, said. "Out-of-town buyers are accounting for most of our sight-unseen offers right now."
Nashville is now #2 in the country when it comes to fastest-selling homes in the real estate world with the average house sitting on the market for just 12 days.
According to moving company United Van Lines, Nashville ranked the 9th most popular city people were moving to last year. Additionally, Tennessee ranked the 7th most popular state seeing an increase of inbound movers.
As for where they're coming from, it looks like many are migrating south. The top five states that people are moving from are New Jersey, New York, Illinois, Connecticut, and California.