Knoxville Tennessee is a great place to live, work and INVEST. The appreciation rate in Knoxville real estate has been positively excellent for over 20 years. The past was great but we believe the future will prove to be even better with tremendous job growth and more positive sustained appreciation. eRealty Concepts, LLC proudly serves as the Morris Group broker providing sales and property management services for the Knoxville area.
Knoxville is the largest city of east Tennessee and the 3rd largest in the state. The U.S. Census Bureau estimates the Knoxville MSA population is over 738,000. The city has served as the hub of the region since its founding in 1791. Knoxville is well grounded and strongly positioned for the future and the technology-based world of business. Knoxville is the heart of the “Innovation Valley”.
The Innovation Valley is a 16 county region of East Tennessee with Knoxville-Oak Ridge as the center. The East Tennessee Economic Development Agency (ETEDA) is a regional marketing and business recruitment organization that provides site location information and assistance. “Jobs Now!” is the Innovation Valley's economic development program. It includes a comprehensive plan to attract new businesses, help existing companies grow, and create jobs and prosperity. The goals of the “Jobs Now!” program's first five years are to: Create 35,000 new jobs, create $2.5 billion in new, nonresidential capital investment, and raise the annual average wage by $5,000. The program has been an outstanding success! The Knoxville-Oak Ridge Innovation Valley accounted for 20% of Tennessee’s new jobs and new capital investment in 2005. The program has created 20,500 jobs & $1.8 billion in nonresidential capital investment since 2003.
The Knoxville area is home to the University of Tennessee, the Oak Ridge National Laboratory (ORNL) as well as seventeen additional colleges and training programs. ORNL is one of the nation’s five national labs and has the only technology park located at a national lab. The University of Tennessee in Knoxville is home to nationally acclaimed schools of engineering, business and law. These intellectual assets feed the business community with scientific ideas, an entrepreneurial spirit and a creative, highly-skilled workforce. They have also helped spur the growth of research-based businesses and attracted internationally renowned teams of scientists. These institutions are available to all businesses in the area and often help identify and address problems that face industry.
You’ve heard the key to real estate investing is “location, location, location.” Just as advanced technology resources connect Knoxville to the future, likewise, its location connects it to the roadways and waterways of the nation. Three of the nation's major interstates, I-40, I-75, I-81, intersect in Knoxville making it a unique location within 500 miles, one days drive, of 50-75% of the nation’s population. Knoxville is a short 30 or 40 minute drive to The Great Smokey Mountains National Park, the most visited national park in the nation with over 9 million visitors each year.
Another of the many reasons businesses are relocating and growing in Knoxville is the reliability and low cost of electricity. The Tennessee Valley Authority (TVA) is the nation’s largest public power producer. TVA maintains their headquarters in Knoxville and provides affordable and reliable energy throughout the region.
The Greater Tennessee Valley has the second largest automotive industry presence in the U.S. with 4 assembly plants and over 800 parts plants located in Tennessee. The Brunswick Boat Group, the largest pleasure boat manufacturer in the world, is headquartered in Knoxville and has 3 plants in the Knoxville area. Knoxville has also recently welcomed leading companies like Brinks Home Security, SYSCO Corporation, Exedy America, Reily Foods, Tennessee Steel, National Partitions and many celebrated expansions of major existing industries.
Knoxville is no longer a well kept secret. The area has been recognized by national lifestyle and business magazines as a fantastic place to live and work. Some of those rankings include:
Forbes Magazine: “Best Places for Business & Career” ranked #5 in U.S.
Expansion Management Magazine:
“America's 50 Hottest Cities for Business Relocation & Expansion” ranked #9 “Five Star Metro” (Top 50 in U.S.) in several categories including: Logistics, Quality of Life, & Education Quotient
Site Selection Magazine: ranked # 5 in the U.S. “Best Overall Business Climate”
Primacy and Worldwide ERC: Knoxville ranked the number one (1) Mid-Sized Metro Area for families looking for a place to relocate
Places Rated Almanac, Millennium Edition:
“Best Place to Live”, cities under 1 million population ranked #1
Sperling's Best Places: “Best Places for Affordable Living” ranked #8
Money Magazine: “Best Places to Retire” ranked #10 in U.S.
Inc.Magazine: “Top Mid-Size City Boom Town” (for Job Growth) ranked #24
Hotwire.com: “America's Most Affordable Travel Destinations” ranked #4
Salary.com: 2006 “Best Metro Areas for Building Personal Wealth” Knoxville ranked #3 in U.S.
Economic Research Institute (ERI): Ranked Knoxville #1 in the U.S. as the best place for college graduates; the low Cost of Living (around 22% below the national average) and the tremendous job opportunities contribute to Knoxville’s high rankings.
The key to real estate investing really is location, location, location IF that location is: 1) a good value 2) positioned to increase in value and 3) marketable & sustainable. Real estate in Knoxville is a great value, the area is well positioned for future growth, and our market is very attractive and sustainable. With the low cost of living, great job opportunities, and superb real estate appreciation, Knoxville is an outstanding place to live, work, and INVEST!
