Public officials and community leaders will gather in Cookeville next month to examine the causes of rising home prices and identify local government tools to address the issue.
Sycamore Institute President Brian Straessle said next Thursday’s event aims to educate attendees on specific actions county commissions and city governments can take. He said the organization is hosting these discussions to help communities understand the available options for managing growth and affordability.
“This event is really an opportunity for folks from around the Upper Cumberland region, you know, public officials, civic leaders, you know, nonprofits, the business community, philanthropy, honestly anybody who has felt the pain of rising housing costs and wondered what could we do about it,” Straessle said. “It’s an event for folks to come together and learn about potential not just like what drove the increase in housing costs, but what can we do at the state, you know, government level, at local government levels in your county commissions and your city governments, you know, what kind of levers exist to hopefully, you know, alleviate some of these housing challenges that we see in the Upper Cumberland region and all across Tennessee.”
Straessle said a significant increase in demand for housing rippled outward from major population centers into rural areas. He said this trend accelerated in 2020 and 2021 when the pandemic caused many people to move to Tennessee from other parts of the country.
“We never really caught back up after the the Great Recession 2008 and the the housing crash that happened,” Straessle said. “You know, there was a lot less housing being built, and we never caught back up to where we were. And so those two things together really created this situation where you had more money chasing a limited supply and prices go up.”
Local control over housing development often involves zoning regulations, building codes, and property rules that determine where and how much construction can occur. Straessle said the specific tools a community chooses to use will depend on their unique goals for housing.
“But there are a lot of potential tools in the toolbox,” Straessle said. “And one of the things that we have found talking to folks is that there’s just not necessarily a ton of understanding, you know, widely about what all those tools are and who has the power to pull them.”
When housing becomes financially out of reach, families often move farther away to find cheaper options, resulting in longer commutes and increased traffic. Straessle said housing availability also impacts school attendance zones and local government revenue through property taxes.
“If you have experienced, you know, the challenges of of rising home costs and wondered what could be done about it, this is the event for you,” Straessle said. “So please come join us on March 5th at the Upper Cumberland Development Region’s Upper Cumberland Development District’s office in Cookeville.”
Registration for the summit is $20 to cover lunch and staff costs, though accommodations are available for those facing financial obstacles.