Considered moving to Tennessee recently? If so, there are opportunities to explore exciting cities like Nashville and Memphis or venture out into the Appalachian Mountains. It’s also relatively inexpensive to live in Tennessee, with a median home value of $170,801, according to Neighborhood Scout. But there are other key factors to consider when moving to Tennessee, too.
No State Income Tax
Come tax time, Tennessee residents don’t owe state income tax, and they don’t have income taxes taken out of their paychecks. While Tennessee doesn’t tax their residents’ regular wages and salary incomes, they will tax interest and dividend earnings, meaning investment revenue will be taxed by the state. Tennessee currently has a 6% tax on dividends and interest, though that may change by 2022.
Temperatures in Tennessee average in the low 90s during the dead of summer; like most southern states in the summer, Tennessee’s weather is hot and humid. Tennessee also has mild to cool winters and can experience frequent rain in the spring. Between August and October, it’s typically dry. Because the Appalachians are in a mountainous area, that region has a humid continental climate and is cooler than the rest of the state.
Travel and Entertainment Opportunities
There’s a laundry list of exciting activities in Tennessee. Music lovers will enjoy both Nashville and Memphis for their rich country, rock, and jazz music scenes and live music venues. Country music fans can also tour the legendary Grand Ole Opry. Plus, Elvis Presley fans can visit Graceland in Memphis. One of the most iconic brands of whiskey, Jack Daniels, operates its main distillery in Lynchburg. Tennessee is also home to the Bonnaroo Music and Arts Festival, the Great Smoky Mountains National Park, and houses over 9,000 caves to explore.
Before moving to Tennessee, start searching for new homes or rentals. With over 40 years of real estate experience servicing Nashville and the surrounding areas, HND Realty LLC can find new residents their dream home or apartment. Contact HND Realty LLC today to learn more.