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Nashville Housing Market Continues Growing Thanks To Retirees

nashville retirementAfter falling in love with Nashville as a tourist, Noreen Fitzgerald decided to move to the region when she retired from her job in New Jersey.

“Nashville’s almost like New York City but on a smaller scale. There’s a lot to do,” she said.

Fitzgerald, who closes on her new home in Hendersonville’s master-planned Durham Farms community later this month, is not alone. She purchased a house being built by Drees Homes.

Retirees relocating from other cities and other states are having a significant impact on the Nashville region’s housing market. One million people are expected to move to the Nashville region over the next 20 years. Many of them are expected to be retirees.

Many retirees are following family members who moved to Middle Tennessee for their careers. Others are attracted by the quality of life and a lower cost of living, said Ramay Winchester, director of Retire Tennessee.

The organization promotes locations in Tennessee as retirement destinations. In the Nashville area, Robertson, Sumner, Maury and Warren counties are members.

“We’re very popular with Long Island and New Jersey police officers and firefighters. The fact we don’t tax their pensions is huge,” said Winchester.

Many of them are particularly interested in master-planned communities where “they have all the amenities. We’re providing the quality of life,” she said.

That’s what attracted Fitzgerald to Durham Farms.

“I selected Durham Farms as I liked the Hendersonville area and the Durham Farms neighborhood appeal for its front porch-living-type community, the green space and the walking trails. I also like the proximity to Nashville,” she said.

Retirees are a key market for the neighborhood.

“Older adults today are looking for a community like Durham Farms that promotes healthy living, including walking trails, a pool, fitness center and planned events that bring neighbors together,” said Suzanne Maddalon, vice president of marketing for Freehold Communities, the subdivision’s developer.

Nashville developer Bill Hostettler sees a growing demand. His company, Craighead Development, has partnered with one of the area’s largest homebuilders, Ole South, to develop The Binns, a 500-home active adult community in Hermitage.

More than half of the 285-acre site will be preserved as green space, and the developers plan to donate land for expansion of a school and a greenway extension.

“There are a lot of people moving here who want to be closer to their grandkids. There is a real demand,” said Hostettler.

Continue Reading: The Tennessean

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