Real Estate Directory - Tennessee

Population: 5,841,748 (all 2003 figures)
Capital city/population: Nashville 544,765
Largest cities/population:

  • Memphis - 645,978
  • Nashville - 544,765
  • Knoxville 173,278
  • Chattanooga 154,887

Tennessee is the 36th largest state, with a total area of 42,146 square miles. With the exception of the eastern portion of the state, Tennessee usually has hot summers and short, mild winters. Average winter temperature is 41ºF; average summer temperatures range from 73ºF - 80ºF. Annual precipitation ranges from 41” – 57”. Tennessee was admitted into the Union on June 1, 1796. Before becoming the 17th president, Andrew Johnson held every elective office at the local, state, and federal level in Tennessee. He became President following the assassination of Abraham Lincoln.

HOUSING

Memphis – Midtown Memphis has a wonderful assortment of historic homes, ranging from Greek revival to Victorian. In outlying areas, there is a wide variety of homes from which to choose, with prices averaging $114,482. Memphis has much to offer – attractions range from the lively downtown area to Graceland Mansion, amusement parks, nature centers, and botanical gardens. A great place to live!

Nashville – There is a strong real estate market in this city, with sales of single-family homes increasing 4.5% since 2004. Average price of these homes increased to $219,576, up 11% from the same period in 2004. Home sellers are getting almost 98% of their asking prices, with homes remaining on the market for less than two months.

Knoxville – This town has a healthy economy and a strong housing market. Homes are reasonably priced, with a median of $143,400 – 86% of the national average. There is no state income tax, and property taxes are also low compared with national averages. Knoxville is near the mountains, surrounded by lakes and wonderful natural surroundings.

Chattanooga – At the end of fall, 2005, Chattanooga had homes ranging from $10,000 - $825,000. The median price was $54,000, with homes remaining on the market for 76 days. Chattanooga has a development plan, and is in the process of revitalizing much of the downtown district; this has led to an increase in property values for this area. Chattanooga offers residents malls, river cruises, mountain hiking, all with a wonderful climate.

BUSINESS/ECONOMY

Principal industries include manufacturing, trade, services, tourism, finance, insurance, and real estate. Manufactured goods include chemicals, food, transportation equipment, industrial machinery/equipment, rubber/plastic products, paper products, printing and publishing. Crops include tobacco, cotton, soybeans, grain, and corn. Per capita income for 2003 was $28,641.

SCHOOLS

Tennessee has established an Evaluation and Assessment Division, whose purpose is to implement the Tennessee Comprehensive Assessment Program (TCAP). TCAP provides assistance to schools and systems concerning state testing, schedules and procedures, and appropriate use of results for the improvement of classroom instruction and student achievement. Student-teacher ratio for 1994 was 18:6, with an average teachers’ salary for 1995 of $33,451.

Institutions of higher learning include the University of Tennessee – Knoxville, with branches at Memphis, Chattanooga, and Martin; there are also universities at Memphis, Johnson City, Murfreesboro, Clarksville, and Nashville. A technological university is located at Cookeville. Other schools include Vanderbilt University, Belmont College, and Fisk University, all in Nashville, and the University of the South – Sewanee.

HISTORY

By time 1800 arrived, settlers were sweeping into the area and the state was prospering shortly thereafter. In 1819, steamboats reach Nashville, Memphis was platted, and canals and railroads were being developed.
During the Civil War, Tennessee was occupied by Generals Buell and Grant; many famous,fierce battles were fought here. After the war, an amendment freeing the slaves was ratified in 1834, and the state was readmitted to the Union in March, 1866. During this time, coal mining and textile production increased, but still lacked the production capacity of the South.

A critical event in Tennessee history was the establishment of the Tennessee Valley Authority in 1933. This program provided hydroelectric power, bringing comfort to thousands of citizens. Later, programs were expanded and the TVA changed the economy from agriculture to industry, then provided the power for Oak Ridge, a source of atomic energy.

In the late 1970s, the trade, service, and finance industries have attracted new business, further strengthening the state’s economic base.

RELIGION (2003)

  • Christian – 90%
    • Protestant – 83%
      • Baptist – 42%
      • Methodist – 11%
      • Church of Christ – 6%
      • Presbyterian – 3%
      • Other Protestant/general Protestant – 21%
    • Roman Catholic – 6%
    • Other Christian – 1%
  • Other Religions – 1%
  • Non-Religious – 9%

DEMOGRAPHICS (2003)

  • White - 64.6%
  • Black - 35.4%
  • Hispanic - 2.2%
  • Native American - 0.3%
  • Asian - 1.0%
  • Mixed race - 1.1%