Why Nashville locals are furious over the influx of wealthy residents as companies like Oracle rush to Tennessee

Angry Nashville residents say they are being pushed out of their city as wealthy residents and big corporations continue to move into Tennessee from blue states.

Nashville, once known for its country music scene, has experienced population growth in recent years, with major companies like Oracle choosing to move their headquarters there.

Attracted by lower real estate costs and taxes, Amazon also announced it would set up major operations in downtown Nashville, and New York money manager AllianceBernstein said it would move its headquarters to the city, as reported by the Wall Street Journal.

According to the U.S. Census Bureau, the Nashville metropolitan area has grown from 1.3 million to 2.1 million residents in just 23 years, driving up property values ​​and the cost of living.

Although real estate in Nashville has become more expensive, it is still relatively low compared to other major US cities. The average home sales price at the end of February was $414,012, compared to the national median of $327,667.

However, just five years ago, the average home in Nashville cost $290,983.

Remacia Smith, who grew up in Nashville, told the Wall Street Journal that she recently had to move to the suburbs with her five children.

“It almost doesn’t look like Nashville anymore,” she said. “Phew Lord, I wish people would stop moving here.”

Meanwhile, lifelong resident John Michael Morgan, for his part, told the newspaper he is concerned about preserving Nashville’s essence.

“Nashville has always been a big city that felt like a small town,” Morgan said. “Now we’re a big city that feels like a big city.”

Earlier this month, Oracle founder Larry Ellison announced his plans to move the software giant’s headquarters from Kansas to Nashville.

Real estate agent Jack Gaughan told the WSJ he expects prices to rise due to increased demand from the arrival of Oracle employees.

Ellison said the decision was based on the company’s attempt to gain a greater foothold in the healthcare industry.

According to the Nashville Health Care Council, the Tennessee capital is home to more than 900 companies with 550,000 healthcare workers. HCA Healthcare and Change Healthcare are among the major companies in the growing city.

“It’s the center of the sector we’re most concerned about, which is healthcare,” the CEO said.

‘It’s a great place to raise a family. It has a unique and vibrant culture. When we surveyed our employees, large numbers of employees, Nashville ticked all the boxes.

‘We want to be part of the community. Our people love it here. And we think this is the center of our future.”

According to a report from The Tennessean, the company paid $254 million for just over 60 acres of riverfront land in Nashville in 2021.

The Tennessean reported that the move to Nashville is expected to create 8,500 new jobs by the end of 2031.

The project is also expected to create nearly 11,500 support jobs and 10,000 temporary jobs during construction.

Ellison said plans for the riverfront campus include a community clinic, concert venue, hotel and restaurant.

Meanwhile, sports-illustrated swimsuit model Kristen Louelle Gaffney, who is married to NFL star Tyler Gaffney, is leaving Los Angeles for Nashville, citing progressive policies and high taxes.

The mother of three said she is tired of spending tax dollars that do little to alleviate the housing crisis and has no plans to support Mayor Karen Bass’ LA4LA program.

Bass asked the “luckiest” for help financing long-term “affordable” housing for the 46,000 homeless people amid the spreading epidemic.

“Honestly, I feel a little taken advantage of when I’ve also had to struggle and create my own opportunities through hard work and education,” Gaffney, a San Diego resident, told Fox.

“Why should anyone get a piece of my hard work?”

Gaffney, who counts Olivia Culpo among her close friends, lamented that California residents are already doing enough to help without seeing much progress.

“The more we claim, and I use the word claim very strongly, that we are helping these people, it seems like the situation is getting worse and worse,” she added, placing blame on Governor Gavin Newsom and Joe. Biden.

You’ve taken enough from us, and you’re only showing me that it’s getting worse.

“Homelessness in LA, there’s nothing like it. I’ve been to the East Coast, I’ve been to the West Coast, I’ve been to the Bay Area. This is the dirtiest I have ever seen in our cities.”

According to the Legislative Analyst’s Office, California’s 2023-2024 budget provided $3.3 billion for various housing and homelessness programs.