U-Haul Reveals 2020 Migration Trends As Pandemic And Taxes Take Toll
A new report has found that Tennessee posted the largest net gain of U-Haul trucks than any other state in 2020, making it U-Haul's top growth state for the first time. Texas and Florida were the top two other destinations. For three consecutive years, Texas had the largest net gain of one-way U-Haul trucks before Florida displaced it for the number one spot last year. Ohio, Arizona, Colorado, Missouri, Nevada, North Carolina, and Georgia made up the rest of the top ten states with a net gain of one-way U-Haul trucks.
On the flip side, California, Illinois, Massachusetts, Maryland, and Oregon were the top five states with the most significant net loss of U-Haul trucks.
Jeff Porter, U-Haul Company of Nashville president, said his company is "seeing a lot of people from California move (to Tennessee) because they're attracted to our lifestyle."
Porter pointed out, "Tennessee has no income tax and is very business-friendly. There are plenty of jobs. People and companies are taking note."
Time to Buy Tennessee real estate . . .Still like Texas for the long term and have been buying REITs that focus on TX real estate including office buildings and strip malls. WSR & FSP are two Reits that have TX properties in their top 5 holdings.
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