T
ennessee's economy continues to attract workers from other states, with a report from the National Association of Realtors naming it among the top destinations for job migration. The state's strong job market, relatively low cost of living, and attractive business environment make it an appealing choice for those looking to relocate.

    According to the report, Tennessee is experiencing significant net job migration gains, driven by growing sectors such as manufacturing, healthcare, and logistics. Nashville and Memphis are among the areas with strong job creation, making them attractive destinations for job seekers from neighboring states like Georgia and Florida.

    As a result of climate-related disasters in states like Florida, insurance companies may increase premiums or pull out, leading to an influx of homeowners seeking more affordable options in the Southeast. Tennessee's lack of income tax is also a major draw, with state data showing that it lost fewer residents to other states than neighboring Georgia and North Carolina.

    The pandemic and rise of remote work have contributed to increased job migration to Tennessee and Nashville, as employees gained the freedom to work from anywhere. This influx of professionals could lead to increased demand for commercial office space in high-growth industries like tech, finance, and healthcare.

    However, a higher population can also cause supply and demand issues, driving up prices. Home prices in the Nashville area have steadily increased over the past five years, with the average price reaching nearly $500,000 in 2022. According to data from Greater Nashville Realtors, home prices are expected to continue rising as more workers move to the area.

    The National Association of Realtors used data from the U.S. Census Bureau's Longitudinal Employer-Household Dynamics program to determine where workers are migrating to. The share of inbound jobs shows how many people are moving out-of-state for new jobs, compared to the total number of job-to-job transitions both into and out of the state.

    The top states gaining the most job switchers are Texas, Virginia, and Tennessee, with 7,191, 7,036, and 6,295 residents respectively migrating to these states in 2023.