What Can $1 Million Get You In Nashville?

Now’s the Time to Buy in the Music City

Over the course of the last several years, it’s become more and more important for buyers to stay on top of trends within the market in order to find the best value possible. Whether looking to purchase a starter home, investment property, or simply seeking a change of scenery, there are lots of variables to navigate. While large metropolitan areas such as New York and Chicago have the allure of vibrant city life, mass public transit and vast history, there are hidden gems and opportunities across the country that buyers and investors have started taking notice of.

It’s no surprise that Nashville has established itself as an attractive location for home buyers. With its abundance of live music, booming business landscape, recent success with sports franchises and the ability to easily “escape it all,” there’s something for everyone. In fact, according to the recent "Emerging Trends in Real Estate" study developed by researchers from PricewaterhouseCoopers and Urban Land Institute, Nashville now ranks 5th overall for top 10 U.S. real estate markets in 2019.

Beating out the likes of Los Angeles, Seattle, Austin and Denver, Nashville offers a unique opportunity to buyers. While housing costs in the Music City have jumped more than 70 percent in the past six years, the median cost of a single-family home is $250,000, lower than the overall U.S. Market. With this in mind, buyers are noticing that their budgets can work harder for them in a market like Nashville.

If you’re looking for a gourmet kitchen, tall ceilings and upscale finishings, look no further than this nearly 4,000-square-foot home which also features a private pool and spa. Perfect for a family, the home includes four beds and four baths, open floor plan, a three-car garage, three fireplaces and sits just an 18-minute drive away from the immediate downtown Nashville area.

With the market continuing to grow, more developments are going up in the middle of all the action as well. This Capitol District mansion boasts four bedrooms, four baths and is only a nine-minute drive to Bridgestone Arena, as well as Nashville’s famous Broadway Street. If buying in a city like Manhattan, the only residential elevator you’d ever take would be in a high rise. This particular property offers you the luxury of an elevator within your own home, along with additional entertainment decks and a rooftop.

Not looking for a mansion? Then maybe you could see yourself in this new E3 construction project with three bedroom and five bedroom options. At just under $1,000,000 you could find yourself in one of the Nashville area’s newest constructs with two-car garages, balconies and huge rooftop decks providing great views of the city.

If you’re on the hunt for an investment property, this East End listing is perfect for you! Located just a block away from the hip Five Points neighborhood, this five-bed and five-bath home has 4,400 square feet of space and is perfect for renting out to tourists throughout the year. In fact, the property grossed over $88,000 in Airbnb income from March through December of this last year! Remodeled in 2012, the home offers a professional kitchen, lots of light, huge bedrooms and a great master bath with a sauna.

Not everyone enjoys being right on top of the city, and there’s a lot of great inventory in the more suburban parts of Nashville to consider as well, including this massive 5,600 square foot property in Devonshire. Still within a 30-minute drive to the downtown area, this property will have you feeling like you’re in Home Alone—but in Nashville instead of Chicago.Featuring a grand entryway, beautiful hardwood floors, a butler's pantry, an updated kitchen with quartz countertops, stainless steel appliances, a main level master bedroom, a large recreation room, a four-car garage and a lovely backyard!

These are just a small sample of the wonderful properties that can be purchased in Nashville on a budget of $1,000,000. With the Music City becoming more and more popular, now is the time to get in, take advantage of the buyer’s market and become a resident of one of the fastest-growing real estate markets in the country.