Current Knoxville/Chattanooga Markets

[Jacob O'Malley]

Hello BP,

I'm wondering if anyone can give some insight into the current state of the Knoxville and Chattanooga markets.  I'm looking to move out of Wisconsin this May to a new location.  I'm interested in a city with a lot of outdoor activities (mountain biking, camping, fishing, etc.) and other things to do (I'm 25 and single, so looking for a place that's easy to meet people my age), that also has affordable housing that I can actually buy.  My plan is to house hack a duplex or single family home (probably the latter).  I have a work-from-home tech job so I don't have to worry about commuting. I was originally looking in the Charlotte and Raleigh areas, but given how burning hot that market is, I honestly don't think I'll be able to find a home that I would enjoy house-hacking anywhere near the city.  So, for those who are familiar with the Knoxville and Chattanooga areas, I have a couple of questions:

1) Given my interests, age, etc., are these good areas to look into in today's market?  Would you move to either of these locations if you were in a similar situation?

2) Are the Knoxville/Chattanooga markets also so hot that I won't be able to reasonably get an offer accepted in a nicer part of town?  I plan to use a 3-5% conventional loan, and can't offer cash.  I realistically don't think I have much leverage in a bidding war.  Google tells me Knoxville has ~1.5 months inventory on hand compared to Charlotte's ~.75, which gives me a little hope.

3) If my plan does make sense, which city would you choose between Knoxville and Chattanooga in my situation?  Or, if neither of these seem like good options, I'm open to other suggestions outside of Tennessee.  I'm trying to get other peoples' opinions on cities that might be right for me in terms of my personal and real estate goals.  To me, this means a city with good outdoor recreation, large enough to meet others my age, good weather, and an area where I can actually get an offer accepted on a home.

Thanks so much for reading and any feedback or advice would be greatly appreciated!