It's almost official... Nissan will be leaving their Gardena headquarters heading for Tennessee; where housing and general cost of business are significantly cheaper. Nissan still keeps refusing to say yea or nay on the move but everyone else says they are going. They will be holding an official news conference sometime in the next week but according to those in the know it's a done deal.
Nissan employees around 1,300 people in the South Bay. Many of these jobs are executive level positions. A number of company officials live in Manhattan Beach, Hermosa Beach, Redondo Beach, Torrance and Palos Verdes. Even if some opt to stay in the South Bay many will agree to move. This will add a lot of homes to our available housing inventories.
Companies , like Nissan, usually hire a relocation company to handle the details of the move for it's employees. These companies will buy a home from an employee if they can't sell within a specified time. Higher interest rates coupled with a rise in inventory could have a small effect on prices from this large of a relocation project.
Honda is also a major player in the South Bay; if they choose to move we could definitely see the effects on the housing market.
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