With the start of the pandemic, many people’s lives changed almost overnight.
Many people began working from home, while others lost their jobs.
In addition, with coronavirus restrictions varying greatly from state to state, many people have contemplated moving to another state.
With these changes daily life, in 2020, many people decided to move to another state.
U-Haul’s Annual Migration Trends Report offers us key insight into where people are moving to. The data for the report is compiled based on the more than 2 million out of state one way moves that occur every year.
For the first time ever, Tennessee topped the list of where Americans are heading to. The Southeast was the top destination for one-way moves last year.
In Tennessee, arrivals accounted for 50.6% of one-way moves, according to U-Haul’s Annual Migration Trends Report. That’s a 12% increase from 2019.
So what makes Tennessee an ideal destination for people moving out of state?
Tennessee is appealing to out of state residents for many reasons. Tennessee enjoys a low cost of living in comparison to many other states. There’s no state income tax. In addition, real estate and property taxes are much more affordable in comparison to other states. With a low cost of living, home buyers in Tennessee see their home budget go further, which makes moving to Tennessee appealing.
In addition, Tennessee has is a business-friendly state. Even with high unemployment numbers across the country, Tennessee’s unemployment rate is still below the national average. The unemployment rate in Tennessee was 6.4% in December of 2020, with the national average at 6.7%. With many job opportunities, many people find moving to Tennessee a good opportunity, with several large cities to choose from including Memphis, Nashville, Knoxville, and Chattanooga.
Tennessee is a great state to live in. With a mild climate, there are still four seasons, but winter doesn’t stretch on like in other northern states. There’s also no shortage of activities, with the mountains and lakes, Tennessee is a beautiful place to live. There are also several large cities to choose from, which makes Tennessee appealing as well.
The Southeast dominated U-Haul’s list of states where people are moving to. Here are the top ten states that people are migrating to.
Knoxville may not be one of the biggest cities in the country, but it has appeared on many national lists.
Here are some of the lists that Knoxville has appeared on in the last few years:
Are you thinking about buying a Knoxville home this year Please let us know if there is any way that Knoxville Home Team can assist you. Rick can be reached at 865-696-9002 or via email at [email protected]. Kati can be reached at [email protected]. Also, be sure to check out our Knoxville Home Search Page.