Finding the Best Places to Retire Since 2006!
Retire in Franklin, Tennessee?
Overview: Founded in 1799 and named after Benjamin Franklin, affluent Franklin is a sprawling, exurb outside of Nashville in north central Tennessee. It sits on the Harpeth River in a gently rolling landscape, and historic preservation is one of its top priorities.
Significant sites that have been restored include the site of the Battle of Franklin, Carnton Plantation, Carter House, and the town square. The award-winning, 15-block historic downtown has ornate, 19th-century brick buildings and a variety of galleries, antique shops and clothing boutiques. The Factory, a 12-building retail and entertainment complex, is listed in the National Register of Historic Places. There are guided bike and foot tours that cover the Civil War, glass-blowing, food and more. More than a dozen city parks, including three dog parks, and numerous open spaces keep Franklin green. Newer neighborhoods are compact with attractive, if somewhat cookie-cutter, four squares and bungalows, while older areas are prim with stately brick dwellings and sweeping driveways.
Residents enjoy a good selection of restaurants that includes steakhouses, sushi places and pizzerias. There is a farmers' market, and Cool Springs is a huge indoor shopping complex with national retailers. Franklin hosts the county fair and a rodeo, and it has a wine festival, a jazz festival, a bluegrass festival and a pumpkin festival.
Population: 74,000 (city proper)
Age 45 or Better: 26%
Cost of Living: 35% above the national average
Median Home Price: $475,000
Climate: This area has a humid subtropical climate. It receives about 50 inches of rain and 10 inches of snow annually. Summer temperatures are in the 80s and 90s, and winter temperatures are in the 20s, 30s and 40s.
At Least One Hospital Accepts Medicare Patients? Yes, and Nashville has several, too.
At Least One Accredited by Joint Commission? Yes, and Nashville has several, too.
Public Transit: Yes, a fixed route system and an on demand, curb to curb service (TODD)
Crime Rate: Below the national average
Public Library: Yes
Political Leanings: Very conservative
College Educated: 60%
Is Tennessee Considered Tax Friendly for Retirement? Somewhat
Cons: The tornado risk is 159% higher than the national average and in March, 2020, a tornado slammed into the northern outskirts of Nashville, causing 24 deaths and extensive property damage.
Notes: Franklin has grown by 22% in the last decade. Traffic congestion is a problem. The city has little racial diversity but has a lot of transplants from points north.
Recommended as a Retirement Spot? Yes
Explorer DeSoto visited this area in 1540, and in 1763 England won the land by winning the Indian Wars. Early pioneers named the new state Franklin, and in the mid-1780s, the region was allowed to send representatives to the legislature. The state joined the union in 1796 and the Confederacy during the Civil War. Many residents remained pro-Union and the state was the scene of extensive fighting.
Today the majority of Tennessee locals live in urban areas. Textiles, chemicals, electrical machinery, leather goods and furniture are the state's primary products. Tennessee also produces a lot of tobacco, but other income is derived from dairy products, livestock, nursery and greenhouse products, as well as cotton.
A few of the state's points of interest are the Great Smoky Mountains National Park, the Hermitage (home of Andrew Jackson), the American Museum at Oak Ridge (atomic energy), three national military parks, and Rock City Gardens (in Chattanooga).
Population - 6,651,218
Persons 65 years old and over - 15%
High school graduates, percent of persons age 25+ - 85%
Bachelor's degree or higher, pct of persons age 25+ - 24%
Persons of Hispanic or Latino origin, percent - 6%
White persons, not Hispanic, percent - 75%
Median household income - $45,219
Social Security taxed? No
Source: U.S. Census Bureau
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