KTEN: Texas is booming; so is Sherman
SHERMAN, Texas (KTEN) — Numbers are in for U-Haul's Growth Index report for 2013, and for the third consecutive year, more people moved to Texas than any other state.
And there is evidence of that growth in Sherman.
"This year alone, new values from new properties that were built added almost $300 million of value to the roll, so that's a substantial number," said Sherman Deputy Mayor Shawn Teamann. "It's just an indication of the growth that we're experiencing."
Teamann added that the population boom contributed to a local sales tax increase of more than $6 million last year.
"There are a lot of new businesses coming, and that have already come, and that the businesses that are here are more profitable and are bringing in more revenue," he said.
The city council member noted that the city has more than 30,000 proposed residential units added that he believes there is a likelihood that Sherman's population could double over the next decade.
Local mortgage loan officer Michelle Castle told KTEN that in a normal year, 50 permits are pulled for new housing. But last year, that figure jumped 500 percent to 300. She believes Texoma transplants are attracted by Sherman's small-town feel
"They feel good when they come to town," Castle said. "They feel like it's still a friendly place to live; there's a lot to offer without the congestion that you experience in other places."
U-Haul's top growth cities in 2023 included four in Texas: Austin (No. 3), College Station-Bryan (No. 6), Dallas (No. 9) and Conroe (No. 19).
The survey put Palm Bay-Melbourne, Florida, in the top spot.
