Tag: economy
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Making Fair Comparisons: Housing Markets Across Eastern Tennessee
Comparing cities can be tricky—it’s a lot like comparing yourself to someone else. For example, if your friend saves $10,000 while you save $5,000, they might seem more successful. But if they earn twice your salary, you’re actually saving at a higher rate. It’s the difference between saying, “Who has more?” versus “Who is doing…
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At The End of The Day, People Vote with Their Feet
I’ve come to realize that many states are trying to replicate what we have in Tennessee—no income tax, no personal property tax, and no inheritance or estate tax. At last count 15 states are trying, but it’s easier said than done because they’ve become accustomed to that revenue stream and rarely want to cut costs.…
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Tennessee’s Housing Challenges: Where and Why It Got So Expensive
Check out this report from The Sycamore Group. It’s the most comprehensive explanation I’ve seen. There are many charts and figures that paint a picture of housing trends all across Tennessee. In my opinion, it’s very consistent with what I’ve been saying for several years now, but it covers every county in Tennessee. It helps…
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Balanced Growth: How Our Region Compares
Last week, the Census Bureau released updated population estimates for metropolitan areas from 2020 to 2024. Curious about how our region compares to similar metros nationwide, we analyzed all metros within 10% of the population of either Kingsport-Bristol or Johnson City. A healthy metro growth rate typically falls between 0.5% and 1% per year, equating…
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Unlocking Economic Growth: New Housing’s Impact on Sales Tax Revenue
I was recently asked about the fiscal impact of a typical housing development on Kingsport’s sales tax revenue. Let’s consider a recent development with 77 single-family homes and 16 condos, totaling 93 units. Assuming a median price of $350,000 per home, a buyer would need an income of approximately $80,628 to afford this with a…
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GDP Reflects the Economic Strength of Tri-Cities
Gross Domestic Product (GDP) is a key measure of a local economy’s health, representing the total value of goods and services produced within a specific area. It provides insight into economic growth, business activity, and overall financial well-being. While the Census tracks population and demographics, GDP serves as a measure of economic output and business…
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Southeast Georgia vs. Northeast Tennessee
I recently spent time in Savannah, Georgia, and was surprised to find that its metro population (640,193) is comparable to the Johnson City-Kingsport-Bristol, TN-VA metro area (598,800). Despite similar population sizes, living in Southeast Georgia and Northeast Tennessee offers distinct experiences shaped by differences in climate, lifestyle, and cost of living. Each region appeals to…
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Do We Still Need Newcomers?
It’s no secret that the death rate exceeds the birthrate in every jurisdiction in Northeast Tennessee and Southwest Virginia, but we’re not alone. According to a March 2024 report from the Census Bureau, 69% of U.S. counties now have more people passing away than being born. However, 60% managed to counterbalance those losses through positive…
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Move to Kingsport – January 2025
The Move To Kingsport program was one of several initiatives launched following the 1999 Economic Summit. It was among five non-traditional economic strategies designed to help the city navigate significant downsizing in domestic manufacturing, a sector crucial to Kingsport’s industrial heritage. The other four strategies focused on higher education (notably a downtown campus), tourism (including…
Kingsport Spirit 