Memphis, TN Community Information

From the gritty Southern blues reverberating on the streets to the sweet smell sizzling barbecue on a Sunday afternoon, Memphis is a city rich with culture, music and world-class food. The greater metropolitan area, including adjacent counties in Mississippi and Arkansas, has a population of 1,260,581. This makes Memphis the second-largest metropolitan area in Tennessee, surpassed only by Nashville. Memphis, which sits on the eastern bank of the Mississippi River, is the youngest of Tennessee's four major cities, which include Knoxville, Chattanooga and Nashville. A resident of Memphis is referred to as a Memphian, and the Memphis region is known as the Mid-South.

According to the U.S. Bureau of Economic Analysis, the Tennessee's gross state product in 2005 was $226.502 billion, making the state the 18th-largest economy in the nation. Major corporations with headquarters in the state include FedEx Corporation, AutoZone Incorporated and International Paper, all based in Memphis.

The median price for a 4-bedroom house in Memphis is less than $200,000. Two-bedroom lofts and condos run from the low $200,000's to the mid $300,000's. While most cities are frantically renovating their old warehouses into expensive condos and lofts, similar housing is still nice and affordable in Memphis's historic South Main arts district.

For potential art buyers, there are over a dozen galleries in the area, which is bounded by the Mississippi River and the world-famous blues sounds of Beale Street. The streets are hopping on Saturdays for the farmers market in the Central Station Pavilion.

If you're looking for an area with more of a traditional Southern feel, try the Cooper Young neighborhood about five miles across town. The neighborhood has a good variety of restaurants and galleries. This is also the kind of community where you have more fun hanging out on the porch or attending friendly neighborhood barbecues.

Memphis is a charming Southern city with a rich and colorful history. It's a town that enjoys a stable economic base, low utility rates and wonderful, friendly people. So put on your Southern charm and begin your Memphis real estate search today!

Sources and more information:
http://en.wikipedia.org/wiki/Memphis,_Tennessee
http://www.memphischamber.com/default.asp
http://www.gomemphis.com/