Elon Musk moving Tesla Headquarters to Austin Texas

In a shareholder meeting, Elon Musk announced Tesla's headquarters would be moving from California to Austin, Texas.

Musk's concerns with operating out of California were the expensive housing costs for employees and limited land for expansion. These reasons, along with a distaste for business restrictions imposed on the company by California, have fueled (or should we say charged) the move.

It is important to note that Elon stated Tesla isn't entirely leaving California. They will still run operations out of the golden state. However, Texas will see a majority of production and expansion from the electric car company.

What will this Mean for the Austin Real Estate Market?

With Austin already experiencing an enormous housing market boom, it's interesting to question what kind of further impact this move will have. Many other large companies are building in or moving to Austin, such as Oracle, Amazon, Apple, Facebook, Canva, and SpaceX. These and others will be accelerating the economy further and continue to increase the cost of living in our city.

Even at all-time highs, it is a great time to begin investing in the Austin Real Estate market. With all the expansion and growth the city is seeing, it only makes sense for the market to follow.

If you're curious about your options when it comes to buying in Austin, feel free to reach out by filling out the form below!