Cumberland County, Tennessee, is emerging as a focal point for discussions about the future of the U.S. economy, primarily due to its significantly aging population. Approximately 33% of the county's residents are 65 or older, a stark contrast to the national average of 18% [9f3413e8]. This demographic shift has profound implications for the local economy, as highlighted by ADP chief economist Nela Richardson, who notes that the aging workforce is reshaping economic dynamics in the region [9f3413e8].
The county has become a retirement hub, particularly in the Fairfield Glade community, which has experienced a remarkable 32% growth over the past 11 years. Homes in this area range from $200,000 to $1.5 million, catering to a diverse range of retirees looking for a place to settle down [9f3413e8]. However, the economic landscape is not without its challenges. The median income in Crossville, the county seat, hovers around $50,000, with nearly 20% of the population living in poverty [9f3413e8].
Local residents, such as Melissa Ellis, have voiced concerns regarding the rising cost of living and the pressures of retirement, emphasizing the need for sustainable economic strategies that address these issues [9f3413e8]. As Cumberland County navigates its unique demographic challenges, it stands as a case study for other regions grappling with similar shifts, offering insights into the potential for economic growth amidst an aging population [9f3413e8].