I would also add to @Troy Miller's post, for investors, TN is a great place to invest. Nashville is usally everyones go to for TN because for the most part, its the most well known! And alot of people are moving there. But its getting expensive and first time investors with not alot of capital to start out cannot afford to get in that major market. So cities like Knoxville, Memphis and Chattanooga are ideal for first time investor because those cities are also growing, renters are there and growing, and prices are not high yet! The buy in for that market is alot easier. Its a fantastic city for all the reasons Troy stated or people to move to and live in. With that kind of growth, its ideal for investors because they will see thei properties rented and see good appreciation on it as well!
Here are a few reasons: one of the fastest internet speeds in the nation, availability and price point of properties/homes, size/scale (mid-size market), accessibility of downtown and other shopping and eating areas, outdoor activities, lifestyle and ambiance, ease of getting to other major cities (Atlanta, Nashville, Ashville, as well as Knoxville, Birmingham, Huntsville), and overall cost of living. Some of the reasons we moved here, and are investing here!
I would also add to @Troy Miller's post, for investors, TN is a great place to invest. Nashville is usally everyones go to for TN because for the most part, its the most well known! And alot of people are moving there. But its getting expensive and first time investors with not alot of capital to start out cannot afford to get in that major market. So cities like Knoxville, Memphis and Chattanooga are ideal for first time investor because those cities are also growing, renters are there and growing, and prices are not high yet! The buy in for that market is alot easier. Its a fantastic city for all the reasons Troy stated or people to move to and live in. With that kind of growth, its ideal for investors because they will see thei properties rented and see good appreciation on it as well!
Hi Jacqulyn, I would also add that Chattanooga has positioned itself as a startup/work from home hub, because of both the high speed internet that Troy mentioned and proximity to larger markets like Nashville and Atlanta. This combined with the abundance of natural resources for outdoors enthusiasts and a rapidly growing restaurant and night life scene make Chattanooga a perfect renters market for young professionals who are used to the higher rents of larger cities often.
I believe another good reason to use Chattanooga is because there are no dead seasons. We don't experience freezing winters so we see visitors at all times of the year. We're also a major outdoor hub. Chattanooga offers lots of hiking, rafting, biking, a local iron man, and more. It's a fun place to visit which is why Chattanooga sees about 3 million visitors a year. (Number from CityScope Magazine)
@Jacqulyn Morton there are a lot of good points here, and they are all factors. For many of my clients, the #1 attraction to Chattanooga is affordability. You can buy into a city with all of the great traits listed in this thread, AND get it at a pretty low price point relative to national standards?! That's huge.