Tesla Gifafactory - Impact on Reno/Sparks Area Home Pricing
On September 4, 2014, after a lengthy and highly publicized competition between Texas, Arizona, New Mexico, California, and Nevada, Tesla Motors selected the Reno Nevada area for its planned Gigafactory. Construction has begun and the factory has a scheduled date for initial production in 2017. At full capacity (in 2020), the factory is expected to employ 6,500 employees. This announcement and ensuing economic activity represents a substantial rising tide for the local economy and housing market which will develop over the next 5-6 years.
We have developed a Tesla Gigafactory Real Estate Information Center page on our site with more comprehensive information.
Where is The Tesla Gigafactory Location?
The factory is being built in the Tahoe Reno Industrial Center which is along Interstate 80 between the Reno/Sparks metro and Fernley. Below is a map showing the proximity of this location to surrounding cities.
Based on the fact that the factory location is not within one city, but between many cities in the area, the impact on real estate will be felt in many local markets, not just the Reno/Sparks or Fernley market.
USA Parkway Completion - More Options for Tesla Employees
This highway is now scheduled for completion in 2017. With this highway extended to Highway 50 in Lyon County, the local markets of Silver Springs Stagecoach, and Dayton will all be impacted from the Tesla factory. With this new road completed, the Tesla commute times will be reasonable and the affordable housing in some of these areas may be an attractive option for some Tesla employees. It is too early to tell exactly which local market will have the greatest impact from the Tesla factory and the completion of this highway but it is safe to assume that all will see increased demand based on these developments.
Visit our site for more information on the Tesla project and homes for sale near Tesla.
Broker - CalNeva Realty