Birmingham, by far. I moved here from Atlanta (17 years there after escaping California in the 80's) over 2-1/2 years ago and haven't looked back. The downtown is growing by leaps and bounds (see the post above for a short run-down). There's been so much pent up demand for new living space. Finally the developers got itchy fingers and started building. Virtually all new projects are presold at 50% before renovation begins. The true validation is that "outside" developers are showing up in droves. For instance, the redevelopment of the old Cabana Hotel into lofts is being done by a California developer who chose Birmingham for their first development outside of California!