Why would you move to Tennessee? Well, it’s pretty simple really, and it might be summed up in one word, “QUALITY”, and more specifically QUALITY of life versus QUANTITY of life. Like me, when you were younger, you were interested in Quantity of life by “setting the world on fire” with your talents and enthusiasm, and like me, most of you rarely thought about your Quality of life. However, as we got older (and smarter), the Quality of our lives took on a new importance. Now don’t get me wrong, there are plenty of opportunities for movers and shakers available, but here in Tennessee, it seems as though the Quantity of Life is somehow tempered and made better by the Quality of life. If Quality of living is so important, and Tennessee has it, how can we define it?
First, I am a Finance major, and while I’d like to say it’s all about the money and savings, Quality in Tennessee must first be defined by the people who already call Tennessee home. Thanks to the military I made 20 moves, including being stationed in Tennessee. After retirement, I found that we just kept coming back to Tennessee, over and over, to visit the friends we made here. I finally realized that it’s the people that make Tennessee. People generally wave, provide a greeting when encountered, stop and talk. Once I drove my tractor into a creek (long story) along a busy US route, and before I could call for a tow, three complete strangers stopped, joined two different tow straps, and pulled me out. Tennessee is all about its people, their good intentions, and their sense of decency.
Second, so you can’t do anything about “death and taxes” the saying goes, so let’s talk taxes. Tennessee is only one of nine states without any income tax, zero income tax! In addition, the State has no personal property, ad valorem, wheel, or school taxes. The two taxes you will need to deal with are Property tax and a 9.75% Sales tax. Tennessee ranks 15th in lowest property taxes and 5th in highest Sales tax. Of all the taxes, Sales tax can best be managed by the individual, and as a “Flat” tax, everyone pays the same rate and their fair share. To sum up, Quality of life equals a low tax burden, and Tennessee is ranked second as having the lowest overall tax burden per capita.
Third, did I say I was a Finance major? As such, I love statistics and especially finance statistics, so let’s get to it, Tennessee has the 8th lowest cost of living (COL) in the US, and is 10.3% under the average cost of living in the US. Should the average American citizen, making an average annual salary of $63,214, move to Tennessee, they will immediately have $6511 more of disposable income, each year; another $6511 to spend on your Quality of life.
Conclusion, so with all this Quality of living, Tennessee must be some “backwoods”, poor state with crumbling infrastructure…Right? Tennessee is growing faster than the average US state, and Nashville is growing at twice the national average growth rate. We have an NFL, NHL, MLS, and four Minor league teams, fine restaurants, Vanderbilt and Tennessee Universities, great roads, and are uniquely positioned in the geographic center of the eastern US population centers. But what about the future? Well, Richstatespoorstates.org rates Tennessee’s future growth outlook as the 12th best in the Nation.
TENNESSEE equals QUALITY of life…Come and experience it…today!