Nashville Real Estate Guide

A Guide to buying a home in the city of Nashville, Tennessee

In 2006, Kiplinger.com created a list of "50 Smart Places to Live." Essentially, it was a list of cities that were a good real estate investment. Nashville, Tennessee was ranked #1 by the editors. So right away, we have validation that Nashville real estate is a smart investment to make.

To quote the article: "Although 'Music City' may have worked fine in the days of Hank Sr., our top pick among great, affordable places to live needs a new moniker. We suggest 'Nashville: Music Is Just the Beginning.' Southern hospitality. Gently rolling hills with big, affordable homes. A mild climate (albeit with occasional tornadoes). Oh, yes, and a phenomenal entertainment scene that goes far beyond country." -Source

Why Nashville, Tennessee Real Estate?

So what makes Nashville a great place to buy a home? Why do publications such as Kiplinger consistently rate the city high on "best places to live" types of lists? Well, lots of reasons actually. So in this City Page, we will take a closer look at just what makes Nashville tick — and what makes it such a smart real estate investment.

Image: A beautiful shot of Nashville at night

You can't talk about real estate in a particular city without discussing other aspects of the city, such as educational opportunities, lifestyle, etc. So let's examine Nashville, Tennessee real estate by examining the city as a whole!

Nashville, TN Stats - Population, Geography, Etc.

Before buying a home in Nashville (or any other city for that matter), it's a good idea to start with a brief geography lesson. This is even more important for people who are less familiar with the city, such as those relocating to Nashville from elsewhere in Tennessee or from out of state.

Nashville is the capital of Tennessee. It is located in Davidson County and sits on the banks of the Cumberland River, in the north-central part of Tennessee. [View Map of Nashville]

To track the growth of the city's population — which also helps to gauge the growth of the Nashville real estate scene — one simply has to compare data over the last few years:

In 2000, the population was just over 545,000 within the city of Nashville. As of 2005, the population was estimated at just over 600,000. The projected population for 2010 is around 619,000 people. So the overall growth rate of Nashville could be best described as slow and steady.

Keep in mind that these numbers reflect the city of Nashville. The current population of the entire metropolitan area of Nashville is roughly 1.5 million strong.

Nashville Climate & Weather

If you already live in Nashville, Tennessee and are simply in the market for a new home, then you'll already be familiar with the local climate and seasonal patterns. If, however, you are planning to relocate from elsewhere in the country to pursue a Nashville real estate investment, the following information will be helpful to you.

Nashville has a moderate climate with hot summers and cold winters. The city gets plenty of rainfall (an average of 48 inches per year), which keeps things green and growing from early spring to early fall. But there are enough sunny days mixed in to make it a pleasant place to live.

Spring is marked by an explosion of colorful flowers and green vegetation. The summers can be hot and humid, with afternoon temperatures in July averaging 89 degrees Fahrenheit. In the fall there is another explosion of color, this time created by the leaves changing color to reds, oranges and browns before being shed for the winter. In the winter, Nashville has its share of cold days. Nighttime lows in January average around 28 degrees Fahrenheit. The city averages 9 inches of snow each year, mostly during January and February.

So if you're the kind of person who likes clear distinction between the seasons, Nashville's weather will certainly appeal to you.

Nashville at Day
Image: Nashville as seen from the Cumberland River

Employment & Economy

Buying real estate in a city without evaluating the economy is like driving while blindfolded. So let's take a look at the economy and employment situation in Nashville, Tennessee.

As you might imagine, the music industry employs quite a few people in Nashville. Most of the major music labels such as Sony, Universal and Warner have offices in Nashville. Many smaller labels have also set up shop in the music-driven city. So music recording and production plays a big role in Nashville's economy.

While music is the best-known aspect of Nashville, healthcare is actually the city's largest industry segment. More than 200 healthcare companies are located within the Nashville metropolitan area. According to a 2006 issue of The Tennessean, the healthcare industry has contributes more than 90,000 jobs for Nashville residents, a much larger contribution than any other single industry sector.

As a major city of the south, Nashville also enjoys many other types of industries as well, ranging from finance to publishing (and many things in between).

Lifestyle & Entertainment in Nashville

Mention the word "Nashville" and many people think of country music. And while the city certainly lives up to its label as the "Home of Country Music," it also enjoys a wide range of musical influences and venues. In fact, if you go downtown on any given Saturday night, you can probably sample some live country music, jazz, rock or R&B.

There are also several museums and centers for the arts in Nashville, Tennessee. These include Tennessee State Museum, the Cheekwood Botanical Garden and Museum of Art, and several others.

The Parks Department of Nashville offers a variety of facilities and programs for the city's residents to enjoy. The Department manages more than 100 individual properties (parks, nature centers, swimming pools, trails, etc.) as well as seven municipal golf courses. Whether you're interested in joining a local sports league, or you just want a nice place to jog or walk the dog, The Metro Parks and Recreation Department has something for you.

Schools & Education

You can't talk about real estate in Nashville without talking about the city's schools. This is obviously an important topic for parents with school-aged children. But it's also important from a real estate investment standpoint. After all, the quality of local schools is a major factor in property values. So let's round off this discussion of Nashville real estate by taking a quick look at the city's schools.

Public schools in Nashville are operated under the purview of the Metropolitan Nashville Board of Education. This school system manages a total of 136 schools — 74 elementary, 35 middle, 16 high schools, 4 alternative learning centers, 4 special education, and 3 charter schools.

At the collegiate level, there are quite a few educational institutions in and around Nashville, Tennessee. In fact, the city is sometimes called the "Athens of the South" because of the high number of colleges and universities in the area. These include Vanderbilt University, Tennessee State University, and variety of other colleges and training institutions.

Here's a more complete list of colleges and universities in the Nashville area.

Should You Buy Real Estate in the Nashville Area?

Should you buy a home in Nashville, Tennessee? In reality, this is a question that only you, as the homebuyer, can answer for yourself. All cities have certain pros and cons with regard to real estate values, quality of life, etc. This applies equally to Nashville. Hopefully, however, this guide to Nashville real estate will help you answer the question!