(Mike Osborne) — A recent study detailed the extent to which out-of-town buyers are pricing Nashville residents out of their own housing market.
The national real estate brokerage chain Redfin released a study earlier this year that shows buyers relocating to Music City have an average of $163,000 more to bid on a home than local residents, a 28 percent advantage in purchasing power.
Redfin ranks Nashville the worst city in the nation for what it calls relocator’s disparity.
Nashville's relatively low real estate values make it an attractive destination for buyers relocating from more expensive housing markets.
However, the Nashville home market may not remain quite so attractive for long. The Greater Nashville Realtors Association notes that mid-state home values rose more than $94,000 during the 12 month period that ended in March.