Why High-Income Earners Are Leaving Big Cities for Franklin, Tennessee

Full video here: https://youtu.be/YoYjLl4dhYc

If you're a high-income earner — an entrepreneur, executive, business owner, or corporate leader — you've probably noticed that the life you've worked hard to build has become more expensive to maintain than ever before. It's not just housing prices. It's insurance, childcare, utilities, transportation, and taxes. State income taxes, property taxes, hidden fees, surcharges. It all adds up. Fast.

For families earning $250,000 or more, the financial gap between staying in a high-tax state and relocating to Tennessee is no longer a minor adjustment. In many cases, we're talking about hundreds of thousands of dollars over time — money that could be going into college funds, investments, a second property, or simply giving your family some real financial breathing room.

I'm Kyle Wallace with Wallace Group, and today I want to talk about why so many high-income families are choosing Franklin, Tennessee, and what that move could realistically mean for you, your finances, and your future.

Tennessee's Financial Advantages: This Isn't an Accident

Tennessee has spent the last two decades intentionally building one of the most business-friendly environments in the country. Here's what that looks like in practice:

• No personal state income tax on wages — one of only a handful of states in the country
• Low overall tax burden — consistently ranked among the most tax-friendly states for individuals and families
• Pro-business regulatory environment — rated #1 overall in cost of doing business in recent national surveys
• Right-to-work state with a regulatory structure designed to attract and retain employers

Back in 2003, Tennessee launched the FastTrack Initiative — a program specifically designed to speed up the state's response to companies, assist with infrastructure, and provide custom job training support for businesses that bring new jobs and investment to Tennessee. Over time, that evolved into a full toolkit of job creation tax credits, infrastructure grants, and training funds that make it easier and cheaper for companies to relocate or expand in Middle Tennessee. The results are visible all around Franklin and Nashville.

The Corporate Relocations That Prove the Point

The best evidence that Tennessee's financial environment is real — not just marketing — is where major corporations have put their money. These companies don't make billion-dollar decisions based on vibes. They crunch the numbers. And the numbers keep pointing here.

Nissan North America

In 2005, Nissan announced it was moving its entire North American headquarters from California to Franklin, Tennessee. The company cited lower taxes and more affordable real estate as key drivers — and invested tens of millions of dollars to build out its campus here. That campus is still here, still growing, and still employing thousands of Williamson County residents.

AllianceBernstein

In 2018, global asset manager AllianceBernstein chose Nashville for its new headquarters, planning more than 1,000 jobs and over $80 million in investment. The move reportedly saved the firm tens of millions of dollars per year in operating costs. That's not a rounding error — that's a structural financial advantage playing out at scale.

Oracle

Oracle announced a record-setting project in the Nashville area: approximately 8,500 jobs and roughly $1.2 billion in capital investment in a new hub on the east bank of the Cumberland River. This is one of the largest corporate commitments Middle Tennessee has ever seen.

And it's not just a few big names. Williamson County alone is home to more than 40 corporate headquarters, including Nissan's North American HQ, Tractor Supply Company, Mars Pet Care, and major healthcare systems. Depending on the year, roughly a quarter or more of Tennessee's fastest-growing Inc. 5000 companies are based right here in Williamson County and Franklin. That means jobs, opportunities, and long-term economic stability — and it's a major reason why high-earning professionals keep choosing to live here rather than staying in higher-tax, less business-friendly states.

What This Means for You as a High-Income Earner

All of that corporate investment and economic infrastructure translates directly into your daily financial life. When you relocate to Franklin and Williamson County, here's what changes:

• No state income tax on your wages — for a household earning $350K+, that's a significant annual number staying in your pocket
• Lower property tax obligations compared to most major metro areas on the coasts
• Lower utility and fuel costs across the board
• The ability to own land, space, and privacy — without sacrificing convenience, culture, or connection

A move to Middle Tennessee isn't a step backward. For families at this income level, it's a strategic step forward — one that lets your money work for you instead of being absorbed by an environment that keeps raising the cost of staying.

Is the Franklin Real Estate Market Actually Stable?

This is one of the most common questions we get from out-of-state buyers: is this a bubble, or is there real stability here?

The data tells a clear story. In late 2025, Nashville's median sales price was around $495,000 — up approximately 6-7% from the prior year. The broader Tennessee median home price rose roughly 5.3% year-over-year. Local real estate reports consistently describe the Middle Tennessee market as stable and resilient, with inventory increasing, more options for buyers, and prices holding or climbing modestly rather than swinging wildly in either direction.

This isn't speculation-driven growth. It's supported by real job creation, real population inflows, and real demand from companies and professionals who have run the numbers and made permanent commitments to the region. That foundation tends to hold — and it's a meaningful difference from markets where values are propped up by low inventory alone.

Schools, Community, and Quality of Life

For families with children, the non-financial reasons to be here are just as compelling. Williamson County regularly ranks as one of the top counties in Tennessee for education — and consistently earns national recognition as well. Casey and I are raising four kids here, and the school system is a genuine differentiator. You're getting access to excellent public schools, a range of private school options, and the kind of community where families are invested in each other and in the next generation.

Franklin also offers something increasingly rare at this income level: a high standard of living without the constant financial pressure that comes with coastal city life. Beautiful neighborhoods, modern amenities, walkable areas, world-class restaurants, live music, outdoor spaces — all of it, without feeling like you're grinding just to maintain the lifestyle.

Williamson County is also one of the wealthiest and fastest-growing counties in the entire country. The people choosing to live here are making long-term bets on this place. That says something about who's here and what they value.

Who This Move Is Not For

Franklin is not for everyone, and we'll be the first to say it. If you want the pace of a major metro, dense nightlife, or the energy of a high-rise urban environment, Franklin probably isn't the right fit. This is a place built for families who want space, community, and a lifestyle that feels sustainable — not one that requires you to run harder just to keep up.

But if you're looking at the next 10 to 25 years and you value financial margin, stability, space, and a future where your money is working for you rather than against you — Franklin is worth a serious conversation.

Frequently Asked Questions

Does Tennessee have a state income tax?

No. Tennessee does not have a personal state income tax on wages. For high-income earners relocating from California, New York, Illinois, or other high-tax states, this is one of the most significant financial changes they experience after moving.

Why are corporations moving to Franklin and Nashville TN?

Tennessee has built one of the most business-friendly environments in the country through low taxes, the FastTrack Initiative (a state program offering job creation credits and infrastructure support), and a pro-growth regulatory environment. Major companies including Nissan, AllianceBernstein, and Oracle have all made major investments in the region.

Is the Franklin TN real estate market a good investment?

Middle Tennessee has demonstrated consistent price stability supported by real job creation and population growth. In late 2025, Nashville's median sales price was approximately $495,000, up roughly 6-7% year-over-year, while Tennessee's statewide median rose about 5.3%. The market is characterized by steady, demand-driven appreciation rather than speculative volatility.

How are Williamson County schools ranked?

Williamson County Schools is consistently ranked among the top school districts in Tennessee and earns regular national recognition for academic performance. It is one of the key reasons families with children relocate specifically to this part of Middle Tennessee.

What is the cost of living like in Franklin TN compared to California or New York?

Significantly lower across almost every category — housing, property taxes, state income tax, utilities, and fuel. For families earning $250,000 or more, the annual financial difference between staying in a high-cost coastal state and relocating to Franklin can be substantial, often amounting to tens of thousands of dollars per year.

Is Franklin TN a good place to live for executives and business owners?

Yes — and the data backs it up. Williamson County is home to more than 40 corporate headquarters, ranks among the wealthiest and fastest-growing counties in the country, and consistently attracts professionals relocating from higher-tax environments. The combination of tax advantages, a strong local economy, top schools, and a high quality of life makes it a natural fit for executives and business owners thinking long-term.

Let's Have a Real Conversation

If you're genuinely curious about what life could look like here in Middle Tennessee — the finances, the neighborhoods, the schools, the day-to-day — we'd love to talk. No pressure, no pitch. Just real information from people who live here, raise their family here, and know this market from the inside out.