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The average property value is around $278,600.

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40.2

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48,005 More males

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A recent reason for sales in Collierville to skyrocket is due to our newly built high school. This raised property value and gave a influx of new families due to our great education reputation.

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Collierville's 38017 ZIP code appears poised to continue as the busiest area for home sales in Shelby County for the fifth year in a row.

Buy Photo

Ellie Schubert, 11, catches raindrops outside of Dixie Pickers in the Collierville Town Square as she waits with her sister, Abigail Schubert, 17, for their parents during a last-minute Christmas shopping trip. Collierville appears poised to continue as the busiest area for home sales in Shelby County for the fifth year in a row with low crime rate, good schools, and the picturesque town square being cited as reasons. (Photo: Jim Weber/The Commercial Appeal)

A total of 1,092 home sales were reported in the 38017 ZIP code between Jan. 1 and Nov. 30, according to Chandler Reports, a local company that tracks real estate data.

The 38017 ZIP code has ranked highest in Shelby County home sales in 2012, 2013, 2014 and 2015, according to the company.

Several factors drive the demand for houses in Collierville, said Realtor Frank Warren with Collierville-based John Green & Company.

"The first, obviously, is the schools," he said. "There's a lot of excitement about the new high school." In 2015, Collierville leaders voted to raise taxes and issue more than $90 million in bonds for the construction of the high school and related costs. The new school is expected to accommodate well over 3,000 students and to include modern touches, including a robotics lab.

Collierville's independent school district began teaching students in 2014, and Warren said that's helped drive home sales. "So that's telling me that a lot of people recognize this is probably going to be one of the best, if not the best, school district in the area."

Other factors are making Collierville attractive, including a low crime rate, a charming town square and availability of nearby jobs, he said.

He said he's noticed some other trends within the Collierville housing market - builders are pricing homes at $450,000 or more, and sometimes those more expensive houses don't sell for a long time.

By contrast, smaller, lower-cost houses in Collierville sell fast, he said, because there's a limited supply and a growing demand. He described how earlier this year, he helped a client buy a small house in Collierville. She paid $139,500, he said. He says he feels confident that now, just a few months later, the same house could sell for $165,000.

Collierville was once a quiet rural town east of Memphis, but it's been growing for many years. Between 2000 and 2014, its population rose from about 32,000 to about 47,000, according to Census data. More recent figures suggest the town's population continues to grow.

School planners in the spring had predicted a total school system enrollment of 8,162 students, according to Jeff Jones, the school system's chief of staff.

By the end of the semester in December, the enrollment was 135 more children than anticipated. Jones attributes the enrollment to growth in luxury apartments in Collierville as well as construction of new homes in town.

It also appears that Collierville residents are less likely to send their children to nearby Houston Middle or Houston High school in nearby Germantown, he said.

The extra students prompt the Collierville schools to hire new staff and make other adjustments, he said. "It causes us to take a look at everything from rezoning to the need for additional school buildings."

Collierville isn't the only area in Shelby County with a busy housing market. The 38017 ZIP code is larger than some other ZIP codes and several areas had roughly the same level of activity.

The 38002 ZIP code in Arlington and other parts of northeast Shelby County accounted for 1,003 home sales in the first 11 months of 2016.

And if you combined the two ZIP codes that Chandler Reports calls Cordova-North and Cordova-South - the 38016 and 38018 ZIP codes - they would account for 1,908 home sales, significantly more than Collierville.

Homes in those two ZIP codes were selling for an average of $161,000 and $168,000 respectively, less than in Collierville.

The average home sales price in Collierville's 38017 ZIPcode was $334,000. That was second-highest in the area, following the 38139 ZIP code in Germantown, where the average home price was $417,000.

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Collierville still leads Shelby County home sales

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Collierville's 38017 ZIP code appears poised to continue as the busiest area for home sales in Shelby County for the fifth year in a row. Buy Photo Ellie Schubert, 11, catches raindrops outside of Dixie Pickers in the Collierville Town Square as she waits with her sister, Abigail Schubert, 17, for their parents during a last-minute Christmas shopping trip.

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Collierville benefits in the medical field due to the fact that Memphis is a hub of medicine. We have the University of Memphis College of Nursing, University of Tennessee School of Medicine, and St. Jude. These are only a few examples of how we benefit from such a city.

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Home >

Methodist Healthcare made a "great commitment" to Memphis this year. Those are the words of Methodist University Hospital CEO Jeff Liebman, who referenced the health care system's multimillion-dollar investment into its flagship hospital at 1265 Union Ave., part of a master plan that will give the facility a modern overhaul.

But in his conversation with The Daily News about that project - one example of a construction and investment boom the local health care industry fueled throughout 2016 - Liebman could just as well have been making a larger point about a groundswell of activity his employer and others have generated.

2016 was a transformative year for the industry in Memphis. Hospitals, clinics and other facilities found themselves flush with resources, cash to spend and updated master plans; rolled out new technology, shuffled executive ranks; pursued ambitious building projects; and laid the groundwork for another productive year to come.

Methodist's top executive - CEO Gary Shorb, whose last day in the role he's held for 15 years is Dec. 31 - considered the state of the industry in an interview with The Daily News about his career and said he was upbeat about the future.

"I tell young people all the time that health care is still a wonderful career, and I have more optimism now than probably at any time since I've been working in health care," said Shorb, who's being succeeded Jan. 1 by Michael Ugwueke.

It's not just Shorb. Jan Bouten, a partner at the investment entity Innova, can look out his office window at 20 S. Dudley St. and see no less than five medical institutions in his line of sight. He and Innova write checks and facilitate relationships to grow more of those institutions big and small - and Memphis, he says, is "just getting started."

Here are some of the reasons why he and others feel that way, including a snapshot of some of the big moments in health care in Memphis during 2016:

As far as Methodist goes, the Methodist University Hospital Parking Plaza will open on Jan. 9, adding 100 additional parking spaces to the campus and bringing the total number to 700. It's one piece of a $280 million plan that will add 440,000 square feet to the MUH campus and remove another 240,000 with the demolition of the Crews Building. Methodist is also investing in new equipment and centralizing its clinical services, among other things.

A row of hardhats and shovels were arranged in a neat row at Methodist University Hospital in early October at a groundbreaking event. Addressing a gathering of dignitaries and local officials assembled under a tent, Dr. David Stern, executive dean for the University of Tennessee Health Science Center's College of Medicine, reflected on the moment. The project, he said, is meant to create "a world-class facility which I believe every patient needs to have access to."

St. Jude Children's Research Hospital, meanwhile, also had something of a banner year.

The hospital is in the midst of a multibillion-dollar campus and operational expansion that's meant growing or adding everything from headcount to technology to infrastructure improvements. To that end, in recent days the city of Memphis and state of Tennessee announced they're dedicating a combined $37 million in funding - $25 million from the city, $12 million from the state - to go toward infrastructure spending around St. Jude's campus.

2016 also saw a whirl of personnel-related news. Saint Francis-Memphis got a new CEO, with Audrey Gregory replacing departed CEO David Archer. Methodist Le Bonheur Healthcare added former Church Health president Antony Sheehan to its leadership team, and Baptist Women's Health Center in Memphis hired Venecia Harris as the new mammography disparity coordinator for the hospital's breast health program.

Speaking of breast cancer, Dr. Meiyun Fan, a UTHSC professor, won a $100,000 grant from the National Cancer Institute to study a particularly aggressive form of breast cancer known as Basal-Like Breast Cancer.

On the facilities front, UTHSC continued work toward the opening in 2017 of its $36.7 million educational facility - the Interprofessional Simulation and Patient Safety Center, which will bring students from all six UTHSC colleges to train together in simulation settings.

Regional One Health opened and continued to build out a 50,000-square-foot East Campus off Highway 385, and Baptist Memorial Health Care opened a 12-bed pediatric intensive care unit at the Spence and Becky Wilson Baptist Children's Hospital.

Le Bonheur president and CEO Meri Armour told The Daily News that one of her institution's key jobs in 2016 was finishing its current outpatient center on Dunlap Street.

In other news:

The aforementioned nonprofit Church Health was rebranded from its former name, Church Health Center. Faith-based, evangelical health service organization Resurrection Health merged with Knoxville-based Cherokee Health Systems, which has the largest network of community health centers in the state. And local leaders continued to work toward bringing some cohesion and strategic vision to the Memphis Medical Center, a district home to key institutions like Regional One, the Memphis Bioworks Foundation and Southern College of Optometry.

Other significant moments included BlueCross BlueShield of Tennessee announcing its move to eliminate Affordable Care Act marketplace plan coverage in three major regions of the state, including Memphis. BCBS pointed to mounting losses it estimated would approach $500 million on such plans by the end of 2016.

Several facilities ramped up efforts on new programs and services aimed at fighting disease and saving lives. West Cancer Center began offering a new method for treating brain cancer, a portable device called the Optune. It's an FDA-approved therapy that's worn like a cap and is designed to send low-intensity electrical fields that are meant to disrupt the way cells divide.

Le Bonheur and UTHSC launched an effort called the Biorepository and Integrative Genomics Initiative. That project is a long-term research effort that involves the collection of patient DNA with an eye toward finding new treatments and personalizing medication regimens for future patients.

UTHSC also created a center to study addiction science and medicine and help with treatment, and West Cancer Center continued building up its Blood and Marrow Transplant Program.

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Memphis Health Care Thrives With Investments, Growth

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Home > Methodist Healthcare made a "great commitment" to Memphis this year. Those are the words of Methodist University Hospital CEO Jeff Liebman, who referenced the health care system's multimillion-dollar investment into its flagship hospital at 1265 Union Ave., part of a master plan that will give the facility a modern overhaul.

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Total employees: 13,008
Included: Management, Health field, Community, Social Jobs, and Engineers

Most common job field for Collierville residents

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Collierville is a suburb of Memphis. Giving us a broader range of job opportunities that other major cities may not have. Here is a supporting article:

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The Memphis metropolitan statistical area (MSA), which includes parts of Tennessee, Mississippi and Arkansas, is the second largest MSA in both Tennessee and the Federal Reserve's Eighth District. As of July 2013, the Memphis MSA had a population of 1,341,690 and a labor force of 623,277. In 2011, the most recent year for which data are available, per capita personal income was $38,622, roughly 6.5 percent less than the national average.

Since the early 19th century, Memphis has served as an important transportation and distribution center. Memphis' safe location, high on the bluffs above the flood-prone Mississippi River, made the city a natural center for storing and shipping agricultural commodities, as well as a logical terminal for roads and railways. By the early 20th century, Memphis had grown into a leading world market for several commodities, including cotton and hardwood lumber. Today, the city is a vital logistics and distribution hub and a center for cutting-edge medical research and treatment.

However, Memphis may be best-known for its cultural exports that developed from the fusion of diverse musical traditions into new, distinct styles. Memphis, "home of the blues and birthplace of rock 'n' roll," produced American music icons such as B.B. King, Elvis Presley, Jerry Lee Lewis and Johnny Cash.

The Memphis metro population has grown at a moderate pace for several decades, although the distribution of population within the MSA has changed. Between 2002 and 2012, Memphis' population grew 8.7 percent, slower than both Tennessee's growth (11.4 percent) and the nation's (9.1 percent). While the population is heavily concentrated in Shelby County, Tenn., the past decade has seen rapid growth in outlying counties.

DeSoto County, Miss., the second-largest county in the MSA, grew 40 percent-
10 times Shelby County's rate. Two other counties bordering Shelby County are also responsible for much of the growth in the MSA during the same period: Fayette County and Tipton County, both in Tennessee, grew 24.6 and 16.3 percent, respectively.

Economic Drivers

Three Fortune 500 companies have headquarters in Memphis: FedEx, International Paper and AutoZone. Delivery services giant FedEx, with 31,000 local employees and $42.7 billion in revenue, is the largest employer in the area. International Paper, the world's largest paper- and forest-products company, employs 2,200 in Memphis. Auto-Zone, a retailer and distributor of auto parts and accessories, employs 1,300 locally.

Distribution is vital to Memphis. The city relies more heavily on the transportation and utilities industries than most other cities do. The 31,000 employees at FedEx, as well as the 33,000 other local employees in the transportation and utilities industry, make up 10.7 percent of employment in Memphis, compared with just 2.5 percent nationally. The city is also an important link in the national and international distribution network. Memphis International Airport is the largest cargo airport by volume in the U.S. and the second-largest in the world, 1 while the Port of Memphis is among the busiest river ports in the country. 2

The education and health-services industry provides another significant source of economic activity in the city. Methodist Le Bonheur Healthcare and Baptist Memorial Health Care Corp. are among the top local employers, with 9,250 and 7,286 area employees, respectively. Nationally recognized St. Jude Children's Research Hospital has 3,471 local employees. The significant health-services presence in the city, along with the local school districts and the University of Memphis, has made the education and health-services industry the second-largest by employment in the MSA, at 14.5 percent.

Current Conditions

While some areas-such as education, health, and professional and business services-have displayed strong growth in recent years, others have experienced weak growth or decline. Memphis has lagged behind much of the nation in the economic recovery. From the second quarter of 2012 to the second quarter of 2013, nonfarm payrolls in Memphis grew 0.9 percent, compared with 1.6 percent nationally. The unemployment rate in Memphis has consistently hovered above the national rate for the past decade, despite slower labor force growth in Memphis than in the U.S. overall. As of July 2013, unemployment stood at 9.4 percent in Memphis.

The slow recovery of housing has been a drag on the local economy. After years of flat or declining growth, housing prices, as measured by the Federal Housing Finance Agency, rose 1.4 percent in the second quarter of 2013 from one year earlier, compared with an increase of 4.0 percent nationally.

A large stock of foreclosed homes continues to weigh down the Memphis housing market. In June, 10.3 homes per 10,000 were foreclosed locally, compared with 5.0 per 10,000 in the nation as a whole. In Memphis, 31.0 percent of single-family homes had mortgages in negative equity during the second quarter of 2013, compared with 23.8 percent nationally. The slow recovery in housing prices, combined with the large fraction of homes in negative equity, has suppressed local consumer demand and will likely continue to hamper Memphis' economic performance.

The struggle of the trade, transportation and utilities industries to recover from
damage inflicted during the recession has also contributed to Memphis' anemic
growth. Retail trade makes up 39 percent of the sector, while wholesale trade and transportation/utilities make up 21 percent and 40 percent, respectively.

Employment in retail trade has been responsible for much of the slow growth. Retail-trade employment has shown negative year-over-year growth rates for much of the past five years, even as employment in this sector has increased nationwide. Growth rates in wholesale trade employment have been largely in line with national growth rates, while transportation and utilities employment in Memphis grew more than twice as fast as in the nation as a whole for most of 2011 and continues to grow despite having since dropped below the national rate. In July 2013, total trade, transportation and utilities employment in Memphis stood at 15,000 fewer jobs than at its prerecession peak in mid-2007, a decrease of 8.5 percent.

A crucial component of the Memphis transportation industry suffered a setback when Delta Airlines dropped Memphis International Airport as a hub in September.
Delta had been paring back service to Memphis ever since the airline inherited the hub in its merger with Northwest Airlines in 2008. While the loss of hub status may reduce the airport's prestige, it is less clear how deeply it will affect the local economy. Delta cut 230 local customer-service and cargo jobs and reduced daily flights to about 60 from a high of 147 in April 2012.

The education and health-services industry has been a bright spot in the local economy. Year-over-year growth in local education and health-services employment has outpaced the national rate for the past two years. In 2012, industry employment grew 3.8 percent in Memphis, compared with 2.0 percent nationally. The industry added 3,300 jobs, representing more than half of the total increase in Memphis payroll employment over the period.

Education occupations, particularly secondary-education teachers and post-secondary administrators, saw the greatest growth. Meanwhile, health services added large numbers of jobs-personal care aides, technicians and paramedics. Two of Memphis' largest health-services employers, Methodist Le Bonheur and Baptist Memorial, have announced expansions to existing campuses and the creation of new facilities.

Despite steady growth in a few major industries, the differing conditions across sectors have resulted in a mixed outlook for the Memphis economy.

Memphis Revitalization

Developers have recently concluded that market conditions are right to begin projects in areas of Memphis that have long languished. While downtown still struggles with vacant office space, the residential market is heating up. Downtown apartments have a 95 percent occupancy rate, and new residential projects, including the renovation of abandoned historic buildings, have been announced.

Developers are also promoting the rejuvenation of Overton Square, a landmark in midtown Memphis. The area has re-emerged in recent years as an arts and theater district. After a decades-long decline, new boutiques, restaurants and fitness studios are moving in to fill the long-empty storefronts; with a half-dozen new leases in recent months, the property is nearing full occupancy. The city has invested $16 million in a parking structure to handle the increased flow of shoppers and theatergoers.

In the end, Memphis faces many obstacles along the road to economic recovery. Even with recent positive developments, persistently high unemployment, coupled with slow growth in most industries and a sluggish housing market, suggests a long road ahead. If employment growth continues along its current path, Memphis will not hit its 2006 peak level of employment again until about 2019. However, if trends continue, education, health, and professional and business services will remain a source of economic strength. Although the city has a long recovery ahead, strong growth in key industries and urban-renewal projects provide reasons for optimism.

Figure 1

Figure 2

Figure 3

Figure 4
Memphis, Tenn.-Miss.-Ark. Largest Sectors by Employment Largest Local Employers Population Growth by County 2002-2012
Endnotes

1. 2012 North American (ACI-NA) Top 50 Airports. Airports Council International-North America. See www.aci-na.org/content/airport-traffic-reports. [back to text]

2. U.S. Port Rankings by Cargo Tonnage (2011). Port Industry Statistics. American Association of Port Authorities. See www.aapa-ports.org. [back to text]

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Metro Profile: Transportation and Health Care Are Pockets of Strength in Memphis' Slow Recovery

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The Memphis metropolitan statistical area (MSA), which includes parts of Tennessee, Mississippi and Arkansas, is the second largest MSA in both Tennessee and the Federal Reserve's Eighth District. As of July 2013, the Memphis MSA had a population of 1,341,690 and a labor force of 623,277.

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Management
Transportation
Sales/Administrative
Nursing/ Health Industry

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Households in Collierville, TN have a median annual income of $110,591, which is more than the median annual income in the United States.

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Why are the wages in Collierville,TN so much higher?