Home values increase in Chattanooga

• Chattanooga was one of 11 metro areas in the U.S. in the fourth quarter of 2008 to see an increase in median home prices, according to the National Association of Realtors.¹

• The fourth quarter 2008 median sales price in metro Chattanooga was $123,800, up 1.8% from $121, 600 a year ago. The national average was $180,100, down from $205,700 a year ago.¹

• The median sale price of a home in Hamilton Country and surrounding areas was increased by about 5% from December 2004 to December 2008.²

• In 2005, property values had increased by 14%. In 2008, many homeowners were reporting increases in property values of 20% or higher. The average was about 18%.²

Chattanooga is attractive to retirees

• Chattanooga has been named “Retirementville” by U.S. News and World Report, appearing in their article, “10 Affordable Places to Retire.” ³

• With an median home price below $150,000 and tax perks for retirees, as well as access to cultural activities, sports, health care, etc., Chattanooga is an ideal place to retire.³

• The Retire Tennessee program receives 6,000 to 8,000 inquiries (from potential retirees) a year.³

• North Georgia is growing due to boomers nearing or reaching retirement age. Blue Ridge has shown a 7.1% growth.³

Chattanooga has job growth

• In a study of 98 of the largest metropolitan areas, Chattanooga was one of three cities to post job growth. This study does not take into account the effects of Volkswagen coming into the area.⁴

• BlueCross BlueShield of TN, Unum, and Cigna– the cornerstone of downtown employment– are set to keep their businesses in the downtown area, preventing job sprawl. They are also made major investments downtown, including placement of their headquarters.⁴

• Volkswagen has already rented office space downtown for over 300 white-collar employees. More white-collar jobs are expected to be created when the plant opens that are likely to create more downtown jobs.⁴

• Plans to continue construction and reopen two nuclear plants could create nearly 5,000 temporary and permanent jobs with TVA in the coming years.⁵

• With the addition of solar energy development plants, Wacker Chemie AG in Bradley Co. and the Hemlock Semiconductor Corp. in Montgomery Co., investing a combined $2.2 billion in the state of Tennessee, over 1,400 jobs are expected to be created by 2012.⁵

Want to see how the Chattanooga Times Free Press is performing under current market conditions?

¹Publication: Chattanooga Times Free Press, “Real Estate Roundup”; Mar 22, 2009; Section: Business; Page C1

²Publication: Chattanooga Times Free Press, "Area home values rise 5% in last four years", Apr 5, 2009; Section: News; Page C1

³Publication: Chattanooga Times Free Press , "Downtown bucks trend and grows"; Apr 6, 2009; Section: News, Page :A1

⁴Publication: Chattanooga Times Free Press , “Jobs in high demand: Health care, high-tech posts draw employees”; Apr 3, 2009; Section: News, Page :A1

⁵Publication: Chattanooga Times Free Press , “1, 2, 3 — billion”; Feb 27, 2009; Section: News, Page :A1

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