Down Home, Down the Street.

"Down Home, Down the Street" is an advertising slogan used by Piggly Wiggly stores in North Carolina. For those of us who are native North Carolinians it hits home and reminds me of a song by a singer Buddy Jewel "Sweet Southern Comfort". There is a comfort for those of us who have lived here a long time about the rural culture and being around friends who graduated high school with you and now living in your hometown. You have a history with these people which transcends everything else. Despite the fact I now live in Smithfield NC and have only lived here about 18 years I feel it here since I am from "Down Home" eastern North Carolina, and see it in people who lived here since birth.

Now one is likely asking what does this have to do with Small Town Investing. Well actually a good bit. If you have bought real estate, have a business, or own land, in one of these small eastern North Carolina towns, and here I am in particular speaking of Smithfield and eastern Johnston County you know there are not a lot of people moving into the area. That was confirmed this week with the release of census figures that noted Smithfield and many other towns in eastern Johnston County are either not growing, growing very little, or actually losing population. So if you have investment interest in such places you are not likely happy with current economic trends.

Why are these towns which are so close to the Triangle growth machine, not picking up the growth from being well, so close. A recent story in The Herald, a newspaper based in Smithfield went looking for clues. They came up with some good ones, aging housing stock, higher utility rates, lack of amenities, and bad image for area schools. All of these likely have some bearing on lack of population growth, but frankly I believe the Mayor of Smithfield might have hit on the real reason when he mentioned "we do not have a lifestyle conductive to young people". Go back up to the first paragraph of this posting and you will notice that most people who live in eastern North Carolina's small town live there because they have a connection to the place. Newcomers, especially those from up north, have no such connection.

However I believe there are two more important reasons people are not moving to the area.

One, there simply are no employment choices in the area. Sure there are some openings, but most of them are retail or limited county seat government openings. Retail is normally not a higher wage area and local government tends to not have much promotional prospects. Once you get past the few healthcare openings there are few knowledge based or skilled positions available. Compare that to Raleigh/Durham where there are technology firms, many hospitals, state government positions, legal firms, and such and you can see why people moving to this area are attracted to that area. People normally move close to jobs and when there are no jobs, there is no need for new housing or even nice amenities. Frankly Smithfield might have the best opportunities in the country per resident for recreation centers, having two very nice venues. But that is not what attracts. So Mr. Mayor more effort spent trying to get high skill, knowledge based jobs would help significantly to add residents and new housing to the area.

Two, the other reason is "lifestyle choice". Whether you like this or not, today's young people view things through how it fits their "lifestyle". Define that anyway you would like, but what it comes down to is today's young people do not want to be hemmed in by a "Down Home, Down the Street" rural culture and Smithfield and eastern North Carolina drips with that feel.

Look at the areas that are growing in North Carolina, Mecklenburg, Wake, Guilford, Forsyth, Durham,Union, Cabarrus, New Hanover, and western Johnston County. What you get there is either lots of job opportunities nearby and/or "lifestyle" choices.

Do I like the rural culture here, you bet. Do the many people raised here like it as well, you bet. But it just hurts when it comes to attracting young people and when it comes to where to live Raleigh, Durham, Chapel Hill, Apex, Cary, and such fits the bill. How do you overcome that problem I frankly do not know. I do know that even if the area attracts some jobs, if the "lifestyle" choice situation is not addressed some of those new hires will find places closer to Raleigh to live.

Full disclosure I once was employed at The Herald, also a member of the visitors bureau for the county, and presently have a home for sale in Smithfield.