Home prices are still going up in Knoxville, TN, increasing by 7.7% over the last year amid a national housing downturn.
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Real estate prices in Knoxville are still going up due to a huge surge of people moving into the area, especially from nearby Nashville and also areas like Washington DC and New York.
People are moving into Knoxville because the home prices are more affordable than where they're coming from.
However - the locals in Knoxville are now being priced out of the Housing Market. With the market about 37% overvalued compared to its long-term fundamentals related to income.
Will Home Prices in Knoxville keep going up into 2024? We shall see.
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