About the Spring Hill Housing Market
Spring Hill, Tennessee is one of the fastest-growing cities in the United States. In 2021, it was ranked the 10th fastest-growing city in the country with a population over 50,000. The city’s population has increased by 17.17% since 2020, and it is currently estimated to be at 59,282.
There are a number of factors contributing to Spring Hill’s growth. One is the presence of the General Motors plant, which is the largest in North America. The plant employs over 7,000 people, and it is a major economic driver for the city.
Another factor contributing to Spring Hill’s growth is its proximity to Nashville. Nashville is a major metropolitan area with a population of over 600,000 people. Spring Hill is located just 30 miles south of Nashville, and it is a popular choice for people who want to live in a more affordable community while still being close to the city.
Median Household Income: $92,779
Metro Population: 59,282
11-Year Population Growth: 17.17%
Median Home Price: $498,373
Median Rent Per Month: $2,053
1-Year Equity Growth: -8.5% (Due to rising rates)
8-Year Equity Growth : 57.6%
1-Year Rent Growth: 15.9%
8-Year Rent Growth (January 2014 – December 2022): 35.3%
Job Growth: +3,000 CES jobs created over the last year
1-Year Job Growth Rate: 10.4%
Unemployment Rate: 2.4% (33% lower than the national average)
Tenant Laws: Landlord-Friendly
What to Like
Low crime rate – Safe
Excellent schools
Close to Nashville (~30 miles)
Growing economy
What to Watch Out For
Traffic
Rising home prices
– Spring Hill is the 3rd safest city in Tennessee, with a crime rate that is 60% below the national average. This makes it a great place to raise a family or retire.
– Spring Hill is located in the rolling hills of Tennessee, and there are many parks and green spaces to enjoy. This makes it a great place to get outdoors and enjoy the natural beauty of the area.
– Spring Hill is located just south of Nashville, and it is only a short drive to other major cities in the region. This makes it a great place for people who want to be close to the amenities of a big city, but who also want to live in a more relaxed atmosphere.
– Spring Hill is still relatively affordable, compared to other areas in the Nashville metro area. This makes it a great option for people who are looking for a good value for their money. The median home price in Spring Hill is significantly lower than the median home price in Tennessee and the national median home price. This makes Spring Hill a more affordable option for home-buyers, especially those who are first-time home-buyers.
– Spring Hill is a growing city with a strong economy. The city is home to a number of major employers, including General Motors, Amazon, and Caterpillar. This strong economy is likely to continue to drive demand for housing in Spring Hill, which could lead to appreciation in home values.
Population growth
Spring Hill, Tennessee is one of the fastest-growing cities in the United States. The city’s population has increased by over 500% since 2000, and it is currently growing at a rate of 5.42% annually. One reason for this growth is due to the development of new businesses and industries in Spring Hill, which has created jobs and attracted new residents.
Strong job growth
Spring Hill, Tennessee is a city that is experiencing rapid job growth. From 2019 to 2020, employment in Spring Hill grew at a rate of 8.81%, from 19.8k employees to 21.6k employees. This growth is being driven by a number of factors, including the presence of the General Motors plant, which employs over 3,200 people, and the recent announcement of a new $2.3 billion vehicle battery cell plant that is expected to create 1,300 jobs.
Low property taxes + growing economy + an active community
The property taxes in Spring Hill are relatively low, which can save homeowners a significant amount of money each year. There are many clubs and organizations in Spring Hill, which offer residents a variety of ways to get involved in the community. The economy in Spring Hill is also growing, which means there are new job opportunities available.
Purchasing Property in Spring Hill
Spring Hill is home to some of the best schools in Tennessee. The city is served by the Maury County School District, which has been recognized for its academic excellence. This makes Spring Hill a good place to raise children.
Spring Hill is a safe community with a low crime rate. The city is the 3rd safest city in Tennessee, with a crime rate that is 60% below the national average. This makes Spring Hill a good place to raise a family or retire.
Overall, Spring Hill is a great place to live. It is safe, has excellent schools, beautiful scenery, a convenient location, and affordable housing. If you are looking for a place to call home, Spring Hill should definitely be on your list.
Spring Hill, Tennessee
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