Amy from Appalachia :
I am in East TN, 30 miles south of Knoxville. Because of the rapid growth of the metro-Knox area, my hometown has grown because people come to work in Knoxville but want to live in a more rural setting. I’m close enough to Oak Ridge (I commuted to there myself for 7 years). This has driven property values up. But we also have A LOT of “transplants.” I don’t like the term but it is what it is. So they work and live in New York, Michigan, California where a 3 bedroom 2 bath house is $500,000, $850,000. They worked until retirement and decide to move to TN. If they have lived in their home for a long time, they have a lot of equity. They may own their home free and clear. When they move to TN, they have the “purchasing power” to either make a significant down payment or potentially even pay full price. This has been happening since at least the mid 1990’s. They start buying up the biggest, nicest houses in town. Developers and realtors see this so they start building and selling more higher end homes and guess what? Homes sales are based on comps (comparable houses in the area). Over time, all of these initially insignificant changes, drive up property values and prices. I am fortunate, I remodeled my grandparents house and have a little over 2 acres.
2026-05-16 02:26:08