Best retirement towns in Tennessee
Tennessee is a state in America's Southeast that attracts many active adults over 55 for its low cost of living and easy lifestyle. Tennessee offers a variety of the best retirement towns, from livable cities like Nashville to lake towns like Paris. The Great Smoky and Cumberland Mountains and many rivers including the Mississippi offer exceptional scenery and recreation opportunities. This site will acquaint you with some basic facts about what it's like to retire in Tennessee (population 6.1 million).
Countryside near Crossville TN
The Tennessee climate is characterized as humid subtropical, influenced by the Gulf of Mexico. Summers are hot and humid while winters tend to be mild, except at higher altitudes.
Per Capita Income and Home Prices
In Tennessee the 2007 inflation-adjusted per capita income was $22,937, a little more than $3000 below average for all states. Real estate and the general cost of living is well below average compared to the total U.S. The Census Bureau reports that the statewide average home price was $159,000 in early 2012. The third quarter 2011 median home price in Knoxville was $144,000, for example, well below the national average of $169,000. The median selling price in the same period for Chattanooga was $128,700 (Source: NAR). Tourism and agriculture (cotton and beef) are important in Tennessee, along with textiles. Cost of living is estimated to be 10% below U.S. average.
Total tax burden is one of the lowest in the country (44th). Tennessee has no income tax, although interest and dividends are taxed at 6%. Persons over 65 whose total income is less than $16,2000 (single) or $27,000 (married) are exempt from that tax. TN has a property tax relief program that the elderly, disabled and veterans can take advantage of. Property taxes are set at 25% of assessed value. Sales tax is 7%, and some localities also have a sales tax. This link goes to the Tennessee Department of Revenue.
Certified Retirement Communities
Tennessee does not have a certified retirement community program, but it has an equivalent, the Retire in Tennessee program.
Best retirement communities
Tennessee has several large cities like Memphis and Nashville, along with many small towns. Several cities and towns in Tennessee are popular as retirement communities, particularly lake towns like Paris or the golf capital of Tennessee of Crossville. Nashville is the country music capital of the world. Maryville is a small town near Knoxville that has two great colleges in it. Johnson City and Franklin are interesting towns in the northeastern and central parts of the state. Active adult communities are being built in and around towns throughout the state and there are many to choose from. Find more helpful information on more than 30 different state retirement guides.
Get started - Click on the Tennessee Retirement Community profiles on the right.