Any concerns with the declining population in Birmingham?

[Michael Choy]

Hi all, 

I'm a new investor vetting multiple markets for buy and hold SFH. Based on my research, it looks like Birmingham is a great place to invest:

• Diverse jobs/economy (Financial offices in BBVA and Wells Fargo, health care providers like UAB, car manufacturers with Mercedes and Honda, and growing distribution centers like Amazon)
  
• Cost of living is affordable
• High % of renters with low vacancy %
• Best of all: Low property taxes! 

However, it does look like Birmingham has had a steady population decline over the past few decades. Are any investors concerned that the population decline will lead to more vacancies, lower rents, etc in the future? 

Cheers, Michael