A recent article on Kiplinger’s website profiles six cities across the U.S., described as “safe havens in real estate” – pockets where the damage from foreclosures and a sagging real estate economy “has been minimal – if nonexistent.”
Two of the six cities profiled are Tennessee’s own Clarksville and Johnson City. (Other cities completing the list are: Pittsburgh, PA; Burlington, VT; Albuquerque, NM; and Lancaster, PA.)
“We found six cities with slow, steady growth, using data from Fiserv Lending Solutions, a home-price research company. These cities’ local economies have kept unemployment and foreclosure rates below average. Plus, their affordability index – a measure of home prices versus family income – is low.
In case you were wondering, we do not believe that these cities will have any positive or negative effect on the Nashville real estate market. Clarksville is within the Middle Tennessee area; however, its local real estate economy is very much driven by Fort Campbell. In fact, Clarksville has always been a good real estate investment for long term hold investors.
The source is Kiplinger.com online.