Cullman’s rapidly expanding industry base boosts real estate business

Cullman’s rapidly expanding industry base boosts real estate business
Rehau have spurred economic, retail and residential growth in Cullman. (contributed)

Along the Interstate 65 corridor, smack dab in between Alabama’s largest metro market and the ever growing Huntsville metro area, sits one of America’s fastest-growing “micropolitan” areas.

For years, Cullman has been rising in the ranks of Site Selection’s annual micropolitan rankings. The city falls within the 10,000-50,000 population range to qualify as a micropolitan.

To view housing data for the Cullman area, visit the Alabama Center for Real Estate’s Cullman page by clicking here.

After ranking No. 3 in the economic development publication’s 2014 list of top cities for new and expanding industries, Cullman was ranked No. 2 for 2015.

“It’s really outstanding, and the competition is fierce,” said Peggy Smith, Cullman Economic Development Agency director, in a statement. “While we’re No. 2 this year, we’re confident that next year we can be No. 1.” Smith said this award reflects the quality and success of the industries that call Cullman home. “Thanks for this goes to the industries that have made up these projects, and expanded and built, to keep us strong and keep us in competition.”

Randy Britt, chair of the Cullman County Multiple Listing Services and a local agent for All Properties of Alabama LLC, said new jobs coupled with millions in industry investment have Cullman’s real estate industry primed to benefit in the years to come.

“We recently had two major real estate franchises in Weichert and RealtySouth add their brands in our market,” Britt said. “Davidson Homes has recently begun development of a new 100-plus-acre subdivision in the city limits of Cullman with all utilities, approximately 100 lots, some already sold with slab pour beginning next few weeks. This is in addition to the two other subs already with occupied houses and more being built.”
During 2015, Cullman announced 411 new jobs with a $99 million industrial investment, according to a report from the Cullman Times.
During the fourth quarter of 2015, Cullman home sales rose 7.4 percent above the fourth quarter in 2014, and the median sales price for Cullman ($131,567) rose 8 percent over the same period the prior year. For ACRE’s first quarter 2016 Cullman housing report, click here.
Much of the recent economic development success stems from the transportation infrastructure in the area, which includes five interchanges on I-65 within 11 miles of each other. Site Selection noted the opening of exit 305 and the new 222 interchange led to the creation of new jobs in the area.
To read ACRE’s latest Cullman housing report on Alabama News Center, click here.
Cullman boasts a 4.8 percent unemployment rate with a 9 percent sales tax.
Bloomberg Businessweek voted Cullman the No.1 Best Place to Raise Children in Alabama in 2013, and the community was No. 2 in the state for overall student achievement during 2015.

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