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Kingsport - Johnson City - Bristol The Tri-Cities area
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Old 09-26-2007, 02:45 AM
 
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Seems like the homes are a bit cheaper in the tri-cities compared to the Knoxville area anyone know why? I am having a hard time deciding between the two.
What are the pros and cons of each?
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Old 09-26-2007, 07:42 AM
 
Location: Beautiful East TN!!
7,279 posts, read 20,222,063 times
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Quote:
Originally Posted by Topo View Post
Seems like the homes are a bit cheaper in the tri-cities compared to the Knoxville area anyone know why? I am having a hard time deciding between the two.
What are the pros and cons of each?
Hello Topo,
That is an interesting question and I will be honest, I do not know why hahahaha
I do know I personally just do not like the busyness of Knoxville and like the less populated, yet with most the same amenities, of the Tri-Cities.
There is also the larger work force in Knoxville, but that is because there is a larger population. There is a 0.7 difference between Knoxville and Kingsports unemployment rate. Here is a good comparison:

"Kingsport-Bristol is Tenn's 5th Largest Labor Market

According to the latest news release of the Tennessee Department of Labor & Workforce Development, Kingsport-Bristol is the 5th largest labor market and has the 5th lowest unemployment rate in the state:


Labor Force
Apr-07 Unemployment Rate

Nashville-Murfreesboro, TN
777,440
3.4

Memphis, TN-MS-AR
611,800
4.6

Knoxville, TN
351,080
3.2

Chattanooga, TN-GA
261,300
3.6

Kingsport-Bristol, TN-VA
144,630
3.9

Clarksville, TN-KY
108,280
4.5

Johnson City, TN
98,350
4.0

Morristown, TN
64,740
4.2

Jackson, TN
55,850
4.5

Cleveland, TN
55,070
4.0

Cookeville, TN
50,180
4.5

Tullahoma, TN
48,610
4.2

Sevierville, TN
47,510
4.1

Columbia, TN
36,020
5.3

Greeneville, TN
32,220
6.1

Harriman, TN
26,610
4.1

Athens, TN
24,820
4.7

Crossville, TN
22,690
4.8

Shelbyville, TN
22,290
3.8

Humboldt, TN
21,130
6.4

Union City, TN-KY
18,970
5.2

McMinnville, TN
17,530
6.4

Dyersburg, TN
17,210
4.3

LaFollette, TN
16,660
4.7

Lawrenceburg, TN
16,550
7.5

Newport, TN
16,210
5.5

Martin, TN
15,950
4.5

Paris, TN
14,010
5.5

Lewisburg, TN
12,520
4.5

Brownsville, TN
9,750
5.1


Source: State of Tennessee Department of Labor & Workforce Development

25-May-07


Then again, home prices increased in value in 06, more so than Knoxville, but still lower appreciation in the 5 year range. Here is some data:

…from the Office of Federal Housing Enterprise Oversight

MSA House Price Appreciation (ending 12/31/06)

45th Kingsport-Bristol, TN-VA

1-yr = 10.16%

4Q06 = 5.21%

5-yr = 35.94%

70th Knoxville, TN

1-yr = 8.45%

4Q06 = 1.25%

5-yr = 36.41%



Not sure if this info will help you at all, just some comparisons I found.
I also prefer the Tri-Cities as less "sprawlish" than Knoxville.
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