If you live in Atlanta, you might not be able to read this for a few days but most of Irma's impact will be over in the next few weeks and it'll be back to normalcy... or will it. Like Katrina before it, I think we'll see some major changes in the coming months and years to the Atlanta real estate market
Pop quiz, what was the biggest jump in migration from New Orleans to away from New Orleans?
If you guessed 2006 the year after Katrina you are right! In fact, over 6,600 families relocated from New Orleans to the metro Atlanta area in just 2006. This is more than any other city area that year. Not only that but this only includes Orleans Parish, not LA as a whole.
Back to Irma. I expect something similar to happen with Irma. After Irma wiped out what have become elite retirement communities of Naples, and others Florida, it'd be no wonder why some would want to move to Atlanta where the insurance is lower and the threat from hurricanes is lessened.
For years Broward county led the country in number of relocaters to Atlanta, so it makes sense to me that in 2018 we'll see an influx of families from Houston (actually I think they will relocate to Dallas-Ft Worth) and Florida where our climate is similar enough and Atlanta's amenities are enough suited. In fact, the only thing missing in Atlanta is the beach.
It's been long said that Atlanta is a haven for "half-backs" - which are people that move from homes in Detroit or up north and then down to Florida. Instead of moving to the center of Florida in Davenport they move to Atlanta.
Bookmark this post, there will be a bunch of changes after hurricanes Harvey and Irma and real estate is just one of them.