Low Taxes and Mild Climate Draw Record-Breaking Crowds to Tennessee

Nashville is one of the fastest-growing cities in the country and has been so for many years now. The pandemic only quickened the pace. Pulte Homes and its Del Webb brand are extremely popular among retirees. Southern Springs by Del Webb in Spring Hill, TN, was just one community that experienced unprecedented growth.

According to Melanie Hemmingway, Vice President of Sales for PulteGroup in Tennessee, “Our buyers are acclimated to the market so that they know if they see and love something today that they should pull the trigger because it may not be there tomorrow. People are generally ready to buy when they get here.”

Hemingway says Pulte is trying to purchase more land and break into new markets further out. They have capped the number of reservations that they take for new homes as they want to be able to provide a new home within a sixto eight-month window. They want homebuyers to be happy with the process. At Del Webb, they are mainly pre-selling. Director of Marketing, Susan Chapin says, “We could sell all the land today, but we can’t build it all today. We are also bringing a new Del Webb property in Murphreesboro, TN, in 2023.”

And, just outside of Knoxville in Loudon County, you’ll find Tellico Village on Lake Tellico where lot sales tripled the amount in previous years. The average home price in Tellico Village in 2021 was $428,000, that’s up from $382,000 in 2019. There are currently 300 homes under construction in this community with 10,000 residents. In 2020, Tellico Village had just over 8,500 residents. They are quickly approaching 75% of their final buildout. Beth Kuberka, Tellico Village Director of Marketing, says, “The boomers are a little different from the Great Depression, whose parents were savers, and I think the boomers have realized, especially living through a pandemic recently, is that it’s time to live and to enjoy life.”