If you want to become a real estate salesperson in Tennessee, it's good to know everything you can about the state. One of the most important metrics is regional population growth. When you know how fast cities and their suburbs are growing, you are better equipped to help your clients find the right property. You also know the best places to establish your real estate business.
The Two Fastest Growing Cities Might Surprise You
Based on Census Bureau data, two of the 15 fastest growing cities in the United States over the last decade are located in Tennessee. They are Murfreesboro and Franklin.
Murfreesboro, home of Middle Tennessee State University, is the sixth-largest city in Tennessee. This Nashville suburb grew 34.6 percent from 2010 to 2019, from a population of 109,572 to 146,900. It is the 11th fastest-growing city over 50,000 residents in the United States.
Franklin was the 15th fastest-growing city in the United States from 2010 to 2019. Its population rose from 62,820 to 83,097 over this time period, an increase of more than 32 percent. Like Murfreesboro, Franklin is a suburb of Nashville, located about 30 miles due south of the city.
Niche ranks Murfreesboro the best place to live in Tennessee and the 17th best city in the United States to buy a home. Nearby Franklin, meanwhile, is Niche's number two place to live in the Volunteer State.
Where Tennessee's 5 Biggest Cities Stand
The home of Country Western music has grown an impressive 11.2 percent over the last decade. In 2019, the city's population was 670,820. If you include all of Davidson County, the population reaches 694,144.
It is a great area to buy and sell real estate — with a caveat. Nick Iliescu, a real estate consultant with the Anderson Group in Nashville, points out that the city recently raised their taxes 34 percent, giving buyers in neighboring Williamson and Rutherford Counties more bang for the buck. Iliescu's personal choice is Middleton, Tennessee, located in Williamson County.
"Demand for luxury keeps increasing," he points out, "and you'll find plenty of homes at the luxury price point here."
The Grind city had a population of 651,073 in 2019. Unlike Nashville, though, Memphis is not adding new residents. In fact, its population remained basically flat over the past decade. It's also not as prosperous a city. The median value of an owner-occupied housing unit in the city is just $97,000.
Home of the University of Tennessee, Knoxville is located in the foothills of the Smoky Mountains. Its growth over the past decade is just 5.3 percent, according to Census data. The median value of a home here is $128,800.
Close to both Georgia and North Carolina, Chattanooga has experienced a 7.3 percent population growth over the past decade, increasing from 167,674 in 2010 to 182,799 in 2019. The median property value is $160,100, and the average income of a Chattanooga household is $72,842.
Among Tennessee's most populous cities, Clarksville has grown the fastest. The population in 2010 was 132,929, and in 2019, it had grown to 158,146, a growth rate of 19 percent. The median home value of this city on the Kentucky border is $148,700.
The Bottom Line
When you're buying and selling real estate, it helps to go where people want to live the most. Right now, Nashville and its suburbs are booming. Other good options are Chattanooga to the West and Clarksville to the North. Both of these smaller Tennessee cities have experienced strong growth over the past decade.