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Own Luxury Homes® Nashville Luxury Migration Index™

Own Luxury Homes® Nashville Luxury Migration Index™: Tennessee 0% income tax (Hall Tax eliminated 2022) + 0.64% effective property tax — lowest combined tax burden of any major Sun Belt luxury market. Nashville $800K-$2M primary active tier. Top origin markets: Chicago/IL (4.95% escape), California (13.3% escape), New York/NJ (10.9%+ escape). Nashville #2 in corporate HQ relocations 2022-2025. Predators NHL, Titans NFL, Grizzlies NBA (0% income tax for athletes). Own Luxury Homes® 12-Point Agent Integrity Audit™.

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Own Luxury Homes® Research Index · Tennessee Real Estate Research

Own Luxury Homes® Nashville Luxury Migration Index™

Nashville has emerged as the most surprising luxury real estate market in the United States over the last decade: a mid-sized Southern city with a country music heritage that has attracted, in rapid succession, the in-migration of corporate headquarters, entertainment executives, private equity principals, and professional athletes — all drawn by the same combination of 0% state income tax, low property taxes, and a lifestyle that is genuinely different from the coastal markets they left. This Index tracks where Nashville’s luxury buyers are coming from, what they’re buying, and how the market compares to its primary competitors: Tampa/Orlando, Austin, and Scottsdale.

⚠️ Tennessee Hall Tax on investment income was fully eliminated in 2022. No state income tax on any income. Market data reflects current estimates; verify with local MLS.
0%
Tennessee state income tax rate on all income, including wages, endorsements, investment income, and retirement distributions — the Hall Tax on dividends/interest was fully eliminated January 1, 2022
~0.64%
Tennessee’s approximate effective property tax rate — significantly lower than both Florida (0.83%) and Texas (1.6-2.5%), making Tennessee one of the most complete tax-efficient destinations in the Sun Belt
$800K-$2M
The primary active price range in Nashville’s Brentwood / Belle Meade / Green Hills luxury corridor — the entry point for the lifestyle communities most in-migration buyers are targeting
#2
Nashville’s ranking as a destination for corporate headquarters relocations among major U.S. cities in 2022-2025, behind only Austin — a structural driver of sustained professional-class buyer demand

01 — Nashville Luxury Migration: Origin Markets and Buyer Profiles

Origin MarketMigration DriverBuyer ProfileNashville SubmarketPrice Range
Chicago / IllinoisIL 4.95% income tax elimination + cold weather + political environmentCorporate executives, finance professionals, family business owners relocating operations; second-largest Chicago-to-Nashville flowBrentwood; Franklin; Belle Meade$1M–3M
California (LA / Bay Area)CA 13.3% tax elimination; tech company remote work flexibility; West Coast fatigueTech founders and executives; entertainment industry buyers with Nashville music ties; remote workersGreen Hills; Belle Meade; Hillwood$1.5M–5M+
New York / New JerseyNY 10.9%+ tax elimination; NJ 10.75% elimination; lifestyle changeFinance executives; entrepreneurs; family office-managed wealthBrentwood; Forest Hills (Brentwood) gated communities; Belle Meade$2M–6M+
Ohio / MichiganMidwest professionals; cold weather; Ohio 3.75% taxCorporate executives from Cleveland, Columbus, Detroit; medical professionalsBrentwood south corridor; Franklin historic district$800K–2M
Florida (reverse migration)Surprising: some FL residents choosing Nashville for seasons / lifestyle varietyAthletes and entertainers who want 0% tax AND seasons AND music cultureBelle Meade; Belle Meade Blvd estates$2M–8M+
Nashville organic (local)Career growth; upgrade; first luxury purchaseHealthcare executives, country music industry veterans, legal professionals, Vanderbilt-connectedGreen Hills; Forest Hills; Sylvan Park (emerging)$800K–2.5M

02 — Nashville vs. the Alternatives: Tax + Lifestyle Comparison

MetricNashville, TNTampa Bay, FLAustin, TXScottsdale, AZ
State income tax0%0%0%+2.5% AZ flat rate
Effective property tax rate~0.64%~0.83%~1.7-2.2%~0.63%
Climate4 seasons (mild; some snow)Subtropical year-round; hurricane seasonHot summers; mild wintersHot desert; mild winters
$1M+ DOM est.25-45 days (seller-moderate)30-55 days (moderate seller)35-65 days (recalibrating)30-55 days (moderate seller)
Sports franchisesTitans (NFL), Predators (NHL), Grizzlies (NBA)Buccaneers, Lightning, Rays, RowdiesNone majorCardinals, Suns, Diamondbacks
Entertainment cultureCountry music capital; live music; unique identityTheme parks; Gulf Coast; diverseTech / festival culture (SXSW, ACL)Golf, resort, Southwest lifestyle
Luxury privacyGood; Brentwood gated communitiesGood; South Tampa gated; Clearwater BeachModerate; Barton CreekGood; gated communities in PV
Corporate baseHealthcare, financial services, tech migrating inDiverse; finance; defense; techTech (#1 in US corporate relocation)Healthcare, tech, professional services
Ryan Brown — Principal Broker & CEO, FL BK3626873
“Nashville surprised everyone including me. I work with athletes and high-net-worth clients across the Sun Belt and Nashville is consistently on the shortlist now in a way it wasn’t five years ago. It’s the only market that has 0% income tax, 0.64% property taxes, a genuine cultural identity that isn’t generic, and an established luxury community that is sophisticated without being pretentious. The buyers I’ve seen choose Nashville over Tampa or Austin are almost always the ones who want seasons, who value authenticity over coastal prestige, and who have a connection to the music or entertainment industry.”
Own Luxury Homes® Sun Belt Research Library
Professional Athlete Tax Savings League Table™ • Florida Homebuyer Triple Squeeze Report™ • Florida First-Time Buyer Affordability Gap Index™ • Florida Property Tax Effective Rate Index™ • National Luxury Market Velocity Index™
Cite This Research
Brown, Ryan. “Own Luxury Homes® Nashville Luxury Migration Index™.” Own Luxury Homes®. https://www.ownluxuryhomes.com/markets/national/research-indices/nashville-luxury-migration-index

Media: ownluxuryhomes.com/connect · 407-900-7030

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— Ryan Brown, Principal Broker & CEO, Own Luxury Homes® (FL License BK3626873)

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