"Texit" and Early Implications in Real Estate

[Jonah Hartsburg]

This post is not intended to elicit normative value statements on whether the secession of Texas from the Union is right or wrong but rather to explore the early and potential implications on real estate.

For those not up to speed on the matter, in summary, the Texas Nationalist Movement delivered signatures to the Republican Party Headquarters for the Texit Referendum this month. According to the movement's website:

Utilizing a provision in the Texas Election Code, if the TNM collected a minimum of 97,709 valid signatures on the petition, the question, "Should the State of Texas reassert its status as an independent nation?" must, by law, be placed on the primary ballot in March of 2024.

I understand that many news outlets are dismissing it as a nonstarter, citing Texas vs White. On the other side, there appears to be a growing base for the movement calling for a different interpretation of that case and saying they project majority support if the question of secession came to a vote.

For the Texans out there, are there any conversations happening about this among buyers or sellers? Any local insights into the general opinions on this matter? Whether it's a matter of perception or reality, it's reasonable to assume that further movement in this direction would have an impact on real estate for investors.