If you build it, they will come. But where will they live?
That is one of the questions that led to the Housing Market Study for Jackson and Madison County by the marketing firm of Younger and Associates. Results of the study were released Tuesday by the Greater Jackson Chamber to a packed house at the JEA Training Center.
Younger and Associates president Sharon Younger explained how the coming of BlueOval City will impact not only Madison County but the surrounding areas. She said the study was designed to address frequently asked questions in order for the community to plan for housing. An estimated 13,000 people will move to Madison County by the year 2035.
From all indications, the incoming population from BlueOval City will account for around 20 percent of the growth in Madison County in the next few years. The study indicates that most will be families with young children and will need affordable housing. With that, the quality and availability of public schools should be a priority to compete with public school systems in other areas.
The study also shows that high-speed internet service is a priority for families when relocating. Greater Jackson Chamber president and CEO Kyle Spurgeon said Jackson is ahead of the game over most communities in terms of growth potential because of Jackson Energy Authority.
“We have the best infrastructure in West Tennessee,” Spurgeon said. “That can be expanded, in some cases, all the way to the Haywood County line, within 20 minutes of BlueOval City. And that’s not to mention the growth that existing industry is bringing to Madison County. As for rural areas, there are grants available for improvements in the infrastructure of small towns in the area.”
In the early 2000s, construction was booming in Jackson – then came 2007 and 2008.
“The surge of new construction that had been going on slowed down tremendously and the housing industry in Jackson has never recovered from that,” Younger said.
So now is catch-up time, not only to keep up with normal growth but to make ready for Jackson’s share of the employees that BlueOval City will bring to the area.
“We need more communities like the healthy community around The Lift in downtown Jackson. Not subdivisions, but communities where families can live, work, play, and learn, where they can walk to get groceries,” Spurgeon said. “I wish we had five or seven more areas like that around the city”
Spurgeon is hoping that local developers and developers from around the country who will have access to the study step up, get creative, and seize a great opportunity.
To see the full Housing Market Study click HERE.
