Hows Tennessee

[Lonnie Heward]

I am putting together a plan to move to Tennessee. How are things down there, I am looking forward to the lack of state income tax as I am getting hosed here in Michigan. Is the state business friendly or is there other hidden fees that make up for the income tax? We are looking at the Chattanooga area, how is business in this area? Currently 90% of my business is REO (just north of Detroit), is the market full of REO's there or is it other work? Looking to live on a house boat, any information/suggestions is greatly welcomed.

 

[BRCJR]

I am putting together a plan to move to Tennessee. How are things down there, I am looking forward to the lack of state income tax as I am getting hosed here in Michigan. Is the state business friendly or is there other hidden fees that make up for the income tax? We are looking at the Chattanooga area, how is business in this area? Currently 90% of my business is REO (just north of Detroit), is the market full of REO's there or is it other work? Looking to live on a house boat, any information/suggestions is greatly welcomed.

Cannot answer most parts of your question(s), but the sales tax is either 8 or 9 % now, I believe.

 

[RSW]

Sales tax is 9.25% and there is not state income tax other than on investment income. As to appraisal work here in TN? Stay away, we don't want any more Yankees down here taking our work from us.

 

[Lonnie Heward]

Thank you for the info. Your weatehr is so much better than ours I think I will come. Just think the more people that come to the area the more homes will to have to be appraised. I will be adding work not taking it away.

 

[Michigander]

Lonnie, weren't you just trying to find an office manager and a bunch of appraisers to work for you in MI?

 

[Lonnie Heward]

Yes I am. I am still looking for appraisers for the Genesee, Northern Oakland and Livingston counties. Are you interested?

 

[govols]

too funny......

 

[Tony in Ohio]

Sales tax is 9.25% and there is not state income tax other than on investment income. As to appraisal work here in TN? Stay away, we don't want any more Yankees down here taking our work from us.

Ha, I just saw this thread and quote, after sending out a PM on about the same topic.

HI all, I am also looking to move down there. Looking at the Nashville area since my wife is a song writer. I am not really looking to take any residential work away as I would like to go a different direction, but I am curious about the general real estate and economic health. Plus it is is always good to know your neighbors and peers.

 

[Thern Newbell]

Hi Tony,

I am not in Nashville, but am from that area. I haven't worked professionally in Nashville, but try to keep up with the 'goings on' in that area since I have a lot of ties to the area. Nashville has had a very good local economy with lots of growth over the last 20-30 years. It's a relatively diverse economy that has attracted a lot of different industries during that time period. It has been impacted by the current recessionary period like everywhere else, but other than speculative property types (i.e. high-rise condo developments), I don't believe that real estate values have fallen as sharply as in other parts of the country (obviously on the individual neighborhood level, there are probably some areas more impacted than others). Nashville will likely rebound fairly quickly after economic conditions improve. As far as, specific RE questions you may want to call some local appraisers or private message them in this forum. Not all, but it seems like most that frequent this board are from other parts of the state.

 

[Tony in Ohio]

Thanks Thern,

I am already doing that. People have been very friendly but many seem a bit more relieved when i say I might try something outside of Appraisal. I dont blame them, I dont think there is any area that is immune from the changes taking place. There have got to be more jobs than in Cleveland however. The local paper had just short of four pages of job listings sunday..... for a million ++ readership area. Heck, even the food service industry, which is notoriously turnover happy, only had 12.