Population Movement in Pickens County

For those who claim real estate is a bad investment, I respectfully ask that you please pay attention to this.

Let us make a few simple assumptions. Everyone has to live someplace. They are not creating any more real estate on this planet. Supply and demand determine value.

I ran across some interesting information regarding 2008 population movements in the US. This is the most current version of what is available on the subject, but I think we would all agree that the last several years have been pretty similar concerning the economy. The chart below represents population movement from the various counties in Georgia to and from Pickens. These counties represent the only movement to or from Pickens County during that year.

It is interesting to note that there were no “long distance” moves. All the moves were between North Georgia and metro Atlanta. We gained 246 residents net for the year, and the per capita income of those moving in was over $12,000 higher than those moving out. Those figures would seem to indicate that fundamentally Pickens County is a positive market for real estate, because the population is growing and the income is improving. The fact that the real estate market is making an adjustment only affects home values temporarily. Demand will continue to increase over time as the previous overbuilding bubble is consumed. We are fortunate that we are not faced with more people moving out than in, or the people moving in have lower incomes. That is what areas like Detroit, MI are facing on a much larger scale. The increases in population and income may also help explain our continued rise in sales tax collections. Also, we have the advantage of vacation homes, so in addition to full time residents, we have part time residents that would increase demand even further. IF YOU SNOOZE YOU LOSE. Now is the time to buy.