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Report analyzes rise in Tennessee housing costs | Tennessee

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Report analyzes rise in Tennessee housing costs | Tennessee

www.thecentersquare.com – By Kim Jarrett | The Center Square – (The Center Square – ) 2025-03-26 11:12:00

(The Center Square) – A new report says demand outstripping supply is behind expensive housing costs in Tennessee.

The Sycamore Institute analyzed the Volunteer State’s housing challenges, from high costs to demand. The demand comes from an increase in domestic migration, said Brian Straessle, executive director of the organization, in an interview with The Center Square.

Tennessee’s population grew by 541,000 between 2010 and 2020 and many of those residents came from other states. The state’s population grew by another 315,000 between 2020 and 2024, according to the report.

Many of those new residents came from areas with higher median incomes and home prices.

“When the amount of money trying to buy something is growing faster than the supply of that thing, it tends to push up the price of the product,” Straessle said. “And that is what happened in communities all across this state.”

The increase in housing prices was not limited to the state’s larger counties, the report said. Davidson County, home to Nashville, experienced a loss of residents to neighboring counties.Those counties saw an increase in housing costs as well. 

“Federal tax data show that those moving into many Middle Tennessee counties had higher average incomes than those moving out,” the report said. “This means some areas experienced regional dispersals of both population and wealth.”

More than a quarter of Tennessee households were considered “cost-burdened,” paying more than 30% of their income on housing costs in 2023. Home prices across the state have risen, with the highest increase in middle Tennessee which experienced a 5.9% increase from 2019 to 2023. Davidson County has the highest percentage of cost-burdened residents at 33%. Johnson County, in the northeast corner of the state, has the lowest at 14%.

Just 33% of Tennessee residents rent a home but a higher percentage of them are cost-burdened, according to the report.

The state’s housing supply has not kept up with the demands of an increased population. Real estate agents have a term called “months supply” that is a comparison of those looking for residences compared to the inventory, according to the report.

“Generally, six months’ supply is the sweet spot for housing markets to appreciate at a consistent rate,” the report said. “After bottoming out in 2011, a slow increase in new housing production eventually contributed to 2013-2014’s solid 6.4 months’ supply. Then, it fell all the way to 1.7 months’ supply in 2021. In other words, the number of people looking to buy a home and the number of homes for sale each month was just above a 1 to 1 ratio throughout 2021, despite increased housing production.”

The data available is “constrained” and may not tell the entire story behind the state’s housing situation, the Sycamore Institute said.

“For example, available data limits detailed local analysis, housing buzzwords don’t always have clear definitions, and some housing choices aren’t well understood,” the organization said.

The post Report analyzes rise in Tennessee housing costs | Tennessee appeared first on www.thecentersquare.com

News from the South - Tennessee News Feed

Rome Ramirez: Solo Debut

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Rome Ramirez: Solo Debut

www.youtube.com – WKRN News 2 – 2025-04-18 15:12:58

SUMMARY: Rome Ramirez, former Sublime member, celebrates his solo debut with the single “Why Me.” The song reflects his 15-year journey with Sublime, flipping the negative question “Why me?” into a message of gratitude and perseverance. Written with close friend Chris Galbuta, the track showcases Ramirez’s personal growth. The debut single’s cover artwork features a young Ramirez with a Sublime poster, symbolizing his roots. Ramirez, now living in Nashville, is also gearing up for upcoming festivals, including Summerfest in Milwaukee, while releasing more music throughout the year. He remains grateful for his experiences with Sublime and his musical journey.

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He is a multi-platinum singer and songwriter, and now He is debuting his solo career today on Local On 2! You know Rome Ramirez from his time as the front man of Sublime and Rome! Now he is stepping out on his own with his new song, “Why Me?”

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Tennessee’s March revenues below estimates | Tennessee

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Tennessee's March revenues below estimates | Tennessee

www.thecentersquare.com – By Kim Jarrett | The Center Square – (The Center Square – ) 2025-04-18 12:36:00

(The Center Square) – Tennessee’s revenues for March were $33.3 million less than the budgeted estimates, according to Department of Finance and Administration Commissioner Jim Bryson.

The $1.6 billion in collections is $69.3 million less than March 2024.

“Sales tax receipts, which reflect February’s consumer activity, were likely impacted by adverse weather conditions,” Bryson said. “Corporate tax collections came in slightly below target but remained largely in line with expectations.”

Fuel taxes exceeded budget expectations, increasing by $9.1 million, a 10.39% jump.

Corporate collections are down 13.9% when compared to March 2024, a difference of $44 million. Corporate tax revenues year-to-date are 9.65% below estimates and down 22% when compared to August 2023 to March 2024 numbers. The General Assembly passed a corporate franchise tax cut in 2024 that was estimated to cost the state $1.6 billion. Corporations started applying for the tax break in May 2024.

Bryson reported a decline of $35.4 million in general fund revenues for March.

“Although we fell short of our monthly target, year-to-date revenues remain just below forecast,” Bryson said. “We will continue to closely monitor economic indicators and revenue trends to maintain fiscal stability.”

March is the eighth month of the fiscal year 2024-2025 budget.

The General Assembly passed the $59.8 billion budget for fiscal year 2025-2026 earlier this week, which does not include any tax breaks.

Lawmakers from both parties raised concerns about possible federal budget cuts that could affect Tennessee. Sen. Bo Watson, R-Hixson, said when the budget process began in February that the state was already seeing a freeze in some programs.

House and Senate Democrats sent a letter to Bryson this week asking for more details on federal budget cuts.

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U.S. Supreme Court to hear case on Trump’s birthright citizenship order

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tennesseelookout.com – Jennifer Shutt – 2025-04-17 17:00:00

by Jennifer Shutt, Tennessee Lookout
April 17, 2025

WASHINGTON — The U.S. Supreme Court announced Thursday it will hear oral arguments next month over President Donald Trump’s efforts to restructure birthright citizenship, though the justices won’t decide on the merits of the case just yet. 

Instead, they will choose whether to leave in place nationwide injunctions from lower courts that so far have blocked the Trump administration from implementing the executive order.

The oral arguments, scheduled for May 15, will likely provide the first indication of whether any of the nine justices are interested in revisiting the Court’s interpretation of the 14th Amendment, which was ratified in 1868 following the Civil War.

The amendment states that “all persons born or naturalized in the United States, and subject to the jurisdiction thereof, are citizens of the United States and of the State wherein they reside.”

The Supreme Court ruled in 1898 in United States v. Wong Kim Ark that the 14th Amendment guarantees any child born in the United States is entitled to U.S. citizenship, even if their parents are not citizens.

Trump disagrees with that ruling and signed an executive order on his first day in office seeking to change which babies born in the United States become citizens. If that order were implemented, babies whose parents were “unlawfully present in the United States” or whose parents’ presence “was lawful but temporary” would not be eligible for citizenship.

Several organizations and Democratic attorneys general filed lawsuits seeking to block the executive order, leading to nationwide injunctions against its implementation.

Last month, the Trump administration asked the Supreme Court to intervene in the lower court’s nationwide injunctions, limiting them to the organizations and states that filed suit.

The three cases are Trump v. State of Washington, Trump v. CASA, Inc. and Trump v. State of New Jersey.

Legislation

Nationwide injunctions by lower court judges have become an issue for Republicans in Congress as well as the Trump administration.

Iowa Republican Sen. Chuck Grassley introduced a bill in Congress that would bar federal district court judges from being able to implement nationwide injunctions.

“We all have to agree to give up the universal injunction as a weapon against policies we disagree with,” Grassley said during a hearing earlier this month. “The damage it causes to the judicial system and to our democracy is too great.”

Tennessee Lookout is part of States Newsroom, a nonprofit news network supported by grants and a coalition of donors as a 501c(3) public charity. Tennessee Lookout maintains editorial independence. Contact Editor Holly McCall for questions: info@tennesseelookout.com.

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