In recent years, Ford Motor Company has been making significant strides in the realm of electric vehicles (EVs) and sustainability. As part of its commitment to a greener future, Ford unveiled ambitious plans for a new manufacturing plant in Tennessee, dubbed BlueOval City. This development not only brings job opportunities to the area but also has a profound impact on the local real estate market, making the surrounding areas highly attractive to investors.
Ford Motor Company is a globally renowned automotive manufacturer with a rich history spanning over a century. Known for producing iconic vehicles that have shaped the automotive landscape, Ford has embraced the transition to electric mobility. Its ambitious goal is to become a leader in the EV market, and BlueOval City plays a vital role in achieving this vision.
Ford’s BlueOval City is poised to become a hub for electric vehicle production, showcasing Ford’s commitment to sustainability and technological innovation. The facility is set to create a significant number of job opportunities. Hiring while is already underway, it’s expected to kick into high gear in mid-2024, attracting a skilled workforce and injecting economic growth into the region. As the workforce expands, so will the demand for housing, leading to a ripple effect that positively impacts the local real estate market.
Adding jobs to an area has a profound effect on the real estate market. The influx of employees creates a surge in demand for housing, which spurs construction and development. This, in turn, drives up property values and rental prices. As Ford’s BlueOval City takes shape, the surrounding communities will experience an uptick in real estate activity and present an excellent opportunity for investors.
The areas near BlueOval City are attractive to investors for several reasons. First, the influx of new jobs translates to a stable and reliable tenant pool. Employees seeking housing in the vicinity are likely to rent properties, which ensures a steady stream of rental income for landlords. Additionally, the presence of a major corporation like Ford, as well as its suppliers moving to the region, enhance the area’s reputation and make it appealing to other businesses, further stimulating the local economy.
Moreover, the growth and development brought about by BlueOval City creates a ripple effect in the region. Improved infrastructure, increased amenities, and enhanced quality of life contribute to a thriving community. These factors make the surrounding areas highly prized to investors who seek long-term growth and capital appreciation.
Furthermore, Ford’s commitment to sustainability aligns with the growing demand for eco-friendly living spaces. The BlueOval City project emphasizes the production of electric vehicles, which resonates with environmentally conscious consumers. This trend translates into a rising interest in sustainable properties, making the surrounding real estate market even more enticing for investors who aim to capitalize on the evolving preferences of homebuyers and tenants.
Ford’s BlueOval City is expected to start production in 2025. This represents a significant milestone in the company’s journey towards electric mobility. The project not only brings job opportunities to the area but also has a profound impact on the local real estate market. The surge in demand for housing, along with the enhanced reputation of the region, makes the areas surrounding BlueOval City highly attractive to investors. As the community flourishes, investors can anticipate long-term growth and capitalize on the increasing demand for sustainable properties. Ford’s commitment to a greener future, coupled with the positive economic impact of BlueOval City, sets the stage for a prosperous future for both the company and the region it calls home.
Nestled near BlueOval City, the charming city of Somerville, offers a delightful blend of small-town charm and proximity to a major industrial hub. With its natural beauty and community-oriented atmosphere, Somerville is a sought-after destination for residents and is attracting a lot of attention from real estate investors. Meridian Pacific Properties, Inc. (Meridian), the No. 1 seller of new construction single-family build-to-rent (BTR) homes in the Memphis Metropolitan Area, is now selling build-t0-rent, SFR properties in Somerville.
Meridian invites real estate investors to learn about Hedge Rose, a new-home community just 30-minutes away from Ford’s BlueOval City. With its fresh air and scenic vistas, Hedge Rose is the epitome of country living. This established community offers a blend of thoughtfully designed floor plans and elevations built to Meridian’s high standards of excellence. Renters will love having the space to host a big backyard celebration or an intimate indoor gathering. Best of all, Hedge Rose is less than an hour from the amenities of downtown Memphis.
If you are interested in learning more about real estate investment opportunities near Memphis, please subscribe to our Investor Newsletter. We also welcome you to schedule a call so we may discuss your investment goals.
