Nestled on the Tennessee-Virginia border, Bristol is the perfect place to call home. Known as the Birthplace of Country Music, Bristol is a fantastic city to enjoy all that a bustling downtown offers as well as the vast stretches of green Tennessee landscape.
Right now, the real estate market in Tennessee is great for buyers. Let’s take a look at why this is the perfect time to purchase a home in Bristol.
Why the Real Estate Prices in Tennessee Are So Low
If you’re thinking about purchasing land in The Volunteer State, you’re smart to consider a home in Bristol. Land in Tennessee is widely available, as more than 80% of the land in the state is used for farming. So prices remain relatively low compared to states in which there is little land up for grabs.
Tennessee’s low cost of living also keeps real estate prices down, makes the state a highly desirable place to live, and keeps residents happy. With no state income tax and low property taxes, residents find that they’re able to pay off their homes faster than they’d be able to in other states.
The economy in Tennessee — specifically, in Bristol, TN — is booming. The downtown area has seen 20 businesses switch hands since the year 2000, resulting in a lively, exciting, innovative downtown area that still holds onto old Tennessee charm. In 2021, Tennessee showed more economic growth than any other state in the U.S., making it the perfect place to purchase a home and enjoy the fast-growing economy.
Cost of Living
As we mentioned, the cost of living in Tennessee is relatively low compared to other areas of the United States. Our cost of living is 11% below the national average, making every dollar stretch a little further and the pursuit of your dreams more attainable. This remarkable affordability sets the stage for comfort and ease, where your financial well-being aligns seamlessly with a rich tapestry of culture, nature and southern hospitality.
And in this budget-friendly haven, our housing costs take center stage, showcasing a remarkable 19% below the national average. Now, picture a lifestyle where your hard-earned money not only finds a welcoming home but also opens doors to adventures galore and enriching experiences. You can take advantage of its natural beauty with hiking, biking and camping opportunities in nearby parks like Steele Creek Park and Bristol Caverns.
Future Trends and Projections
Due to the influx of young families moving into the area to take advantage of low housing costs and a fast-growing economy, housing prices will begin to increase within the next few years. If you’re thinking about making the move to Bristol, the time is now.
The Reserve at Leonard Farms: Choose Your Lot Today
Reach out to our team today to learn more about our available lots and begin planning your future at The Reserve at Leonard Farms in Bristol.
