In some ways, Nashville, TN, is a lot like many American cities. For example, the median home price was right in line with the national average: around $263,000 in Nashville to around $267,000 across the country. But there are some things aren't so average — the city more than doubled the national year-over-year home price increase.
What's driving the huge spike in prices? There are a lot of factors, but one of the biggest ones is demand. People just really want to live here for the vibrant, urban lifestyle. Here is what a cool half million could buy in today's market.
Two of the neighborhoods that shoppers in this price range should consider are The Gulch, where many of Nashville's newest buildings are going up, or over in Germantown, where vintage industrial buildings I have been rehabbed into posh urban lofts. Both of these neighborhoods are right around the downtown area with easy access to everything the city has to offer.
There are two Gulch buildings that are especially hot right now in the $500,000 range. Twelve Twelve, where open loft-style floor plans come together with modern finishes and luxurious upgrades, usually has one-bedrooms in the low 500s. Icon in the Gulch is a similar opportunity, but it's possible to land a two-bedroom, two-bathroom unit in the low 500s. Both buildings have similar amenities, including pools, but the Twelve Twelve interiors and balconies are slightly more impressive.
Germantown is an option for those want true loft living. Werthan Mills Lofts is a good example with plenty of shared amenities. There's a pool to complement the exposed brick and timber loft units with their soaring ceilings and designer upgrades. Two-bedroom units usually go for just under $500,000.
Nashville is more than just a live-work-play modern urban center. It's also in Tennessee — a significant tidbit since the state has one of the lowest tax rates in the nation. If you're also interested in this unique combination of luxury lifestyle and low tax burden, check out the full directory of the condos for sale in Nashville today.