​Will Popular Lower Priced Cities Ever See Appreciation?

[Charles Worth]

I am curious what are the thoughts of the community on whether some cities that are popular on BP and that also have some interesting trends in their favor will ever see significant appreciation? For instance, I like places such as Nashville Tennessee, Indianapolis (Indy) and Kansas City in terms of some of the things I see there (companies moving there, a thriving tech scene etc.). 

At the same time these areas have ample land that could be used for building upon a rise in prices thereby capping appreciation. For instance, when I was young I spent a good amount of time in Memphis Tennessee where many areas that had nothing there when I was that age now have a lot of newer houses that were built to meet demand. 

Compare this to places like SF or NYC where few places to expand to and old style rental regulations constrains housing supply to a certain number of units a year so you either buy the higher prices or move.