What effect will Amazon’s announcement that they are moving their second headquarters to Nashville have on the Nashville Real Estate Market? Amazon Nashville is a HUGE announcement for the Nashville area.
The Amazon Nashville Effect will influence the downtown loft market. The effect will also spread to neighboring suburbs, like Mount Juliet and Wilson County. Amazon Nashville employees with families will want a great school system and will be drawn to places like Wilson County for it’s slower pace.
Mount Juliet, known as “The City Between The Lakes”, gives a great balance to those incoming employees of a family centered community. Mount Juliet also offers the Amazon Nashville employees all the amenities needed like convenient grocery stores and even a regional mall.
There are PLENTY of opportunities for kids in Mount Juliet too, like the local baseball park, dance studios, private schools, and even homeschool co-operatives. If the Amazon Nashville employees have kids, they will most likely find just about anything they need in Mount Juliet and Wilson County.
Another benefit is, depending upon traffic, you could be downtown in 15 minutes. (Not including rush hour.) . That takes a little longer. For the commute to work, Amazon Nashville employees would have the option of taking the commuter train, the “Music City Star” into the downtown area. There is a Music City Star pick-up station in Mount Juliet, Lebanon, and also in the “Martha” area, which is right off of Hwy 109. (That’s right between Mount Juliet and Lebanon.)
If you’re an Amazon Nashville employee, or anyone else relocating to Nashville, I would love to help. I’m a Nashville native. I know the history of the area, as well as the trends of the future for Nashville and Wilson County. I’m also an experienced real estate agent. I’ve been an agent since 2005 and I was a real estate investor before that.
Since I know lots of people and I know the area, I can help you plug into your new home quickly. Let me know your needs and I can help you get in touch with the right people, groups, or even worship centers that may meet your needs. Just let me know how I can help!
Eddie Poole: Hey everybody, recently there was a huge announcement for the Nashville area. Amazon’s coming and they’re establishing their second headquarters here in Nashville, and they bring in 5,000 jobs to the area. Now, the average Nashville worker makes about $51,000 a year according to payscale.com, but these 5,000 workers average salaries are going to be $150,000. Well, what effect does that have on the real estate market? I’m Eddie Poole with Keller Williams Realty, and I want to tell you about it.
Governor Haslam…. he called the announcement a “Game Changer.” Mayor Briley… he’s equally excited. He said it’s the biggest announcement about jobs for Nashville in the history of Nashville. It’s huge!
Now, where is this going to be located? Nashvillians know the area as the location of the old LifeWay building. (You know, the building downtown that had the cross.) LifeWay has moved about a block away now, and about a year ago it was imploded.
Well, Amazon is going to have an entire floor of the new building, located right off of I-40.
Anytime you have a big influx of buyers for any product, the prices are going to rise. The same would be true with the housing industry. If you have more buyers for one house or another house, then they’re going to drive the prices up and that’s basically the effect that’s going to happen here too.
Now, the big question is, how is it going to affect the Nashville housing market? That’s going to be determined by the demographic of the workers that Amazon brings in. If Amazon brings in a lot of millennials, which I’m sure a lot of the 5,000 will be millennials, they may be looking towards the downtown lofts. They will want the downtown life, and the easy walking distance from everything that’s going on downtown.
Now, that should have an effect on the downtown area. I’m sure Amazon will also be bringing in some workers with families. Families may prefer someplace like Wilson County that offers a great school system and a lot of other amenities for families.
Another advantage of Wilson County and Mt. Juliet for the Amazon Nashville employees, is the Music City Star. It’s our train commuter system that goes downtown and back every day. It would offer a great alternative for transportation for the new Amazon employees, and save them on parking. It would also save them on the drive, the headache of traffic, which is growing here in Nashville. That would be a great alternative for Amazon national employees.
Now, lots of factors influence home prices and demand, such as interest rates, and the economic conditions. I think an influx of workers will definitely have an impact. As an agent, I’ve seen the days on the market for homes that are over 300,000 beginning to be longer on the market. I’ve heard the same thing from agent friends across the country as, things are slowing down. It’s not that things are going to crash, but it’s going back to the normal market.
We’d been in an abnormal market for a few years now, and we’re returning to normalcy. As the return to normalcy begins across the country and here in Nashville, the influx of workers from Amazon will actually give us a bit more stability. Particularly in the above $300,000 range. Also, like I said, with the millennials wanting the downtown loft areas, that will help downtown and the suburbs.
Now, as predictions are coming in from across the country and everybody is reporting that the days on the market for the upper range homes are beginning to be longer, what used to take 30 days to sell are now taking 60, for example. I believe that, as the 5,000 workers come in with Amazon, it’s going to help out, and help stabilize the Nashville market. The influx of workers will help the market stay stronger in that above $300,000 range in the suburbs like Mount Juliet in Wilson County, and also downtown with area lofts in the downtown vicinity.
If you found this video helpful, I would appreciate you sharing it on Facebook or send it to a friend, anybody that you know may want to want to hear it. I’m Eddie Poole with Keller Williams Realty and I love leading people home!
By the way, if you’re an Amazon employee and you’re coming to Nashville, I’d love to help you. I’m a native Nashvillian and I’m an experienced real estate agent, call me.