Kingsport Spirit

MOVE TO KINGSPORT MONTHLY REPORT

This September brought 47 newcomer families from outside the region, down from 57 last September. They came from 22 states instead of 27, and the daily pace eased from about 3.0 families per workday to 2.35. On paper that looks like a clear step down, but the price mix tells a different story. The median sale price dipped from $360,000 to $327,500, while price-per-square-foot rose from $166 to $182. That’s the classic sign of a smaller-home mix—fewer large houses trading—rather than a broad drop in value. Buyers still paid strong prices for each foot of space even as the “typical” price fell because there were more modest-sized homes in the basket.

The maps back this up. Last year’s dots were spread across the country; this year’s cluster tightens inside the 300-mile ring—Carolinas, Georgia, Virginia, Kentucky, and Ohio. That lines up with the national backdrop: the big, cross-country moves that surged during the pandemic have cooled as rates stayed high and inventory stayed thin. Across the U.S., many movers are staying closer to home and picking smaller footprints to get the location and payment they can live with. Kingsport’s monthly pattern fits that mold: fewer arrivals, from closer in, paying solid per-foot prices for right-sized homes.

Over the past year, Kingsport welcomed 607 out-of-region families, down from 676 the year before. The number of feeder states nudged from 47 to 45, and the daily pace edged from 2.70 to 2.48 families per workday. Even with that softer flow, pricing moved the other way: the 12-month median rose from $326,975 to $340,000, and $/SF climbed from $156 to $166. Put simply, the pipeline thinned a bit, but prices held up and moved higher.

Geographically, the year-over-year story mirrors the monthly one. The scatter of far-flung origins shrank a little, while the near-in drive market did more of the work. That’s the same pattern many secondary metros are seeing nationwide: less long-haul churn, steady demand from nearby states, and buyers who will pay up on a per-foot basis for updated, well-located, “fits-our-life” homes, even if they choose fewer square feet.

Taken together, Kingsport’s value message is sticking. We have slightly fewer newcomers and a tighter radius, but per-foot prices are higher, and the 12-month median is up. Because these figures compare the same periods year-over-year, seasonality isn’t doing the talking. This is the market settling into today’s reality: people who know this region are still picking Kingsport, choosing smaller but quality homes, and keeping prices per foot on a firm footing.