Most famous for great blues music and great barbeque, Memphis is rarely thought of as a cornerstone of shipping. As the home of the FedEx company, the Memphis International Airport is the world's biggest freight airport--a significant economic watermark. This growing industry is doing a lot to support Memphis, which no longer depends on its old textile and auto parts industries.

The Home Market in Memphis

Thanks to the airport, Memphis is being spared the decline that most blue collar cities have seen in the last few years. The transition of job markets was rather seamless, and Memphis still has as many jobs in the industrial sector as it did before. Economic forecasts for Memphis are well above national averages, and it appears that Memphis will be spared the pinch that cities like Detroit are feeling.

The average price of a home in Memphis is well below the national average, but the average income is comparably lower as well. The standard of living is low, but property values are on the rise. The city looks to be a good market to invest in, as Memphis is a healthy market that may well gain some serious clout in the coming years.

Those looking for HUD homes in Memphis are encouraged to look up foreclosure listings, but also to look further. Recently, HUD dedicated three million dollars to down-payment assistance for first-time homeowners in Tennessee. This money is sure to be in high demand, so be sure to apply soon if you want to settle down in Memphis.