The California -> central Texas migration is nothing new. It happened once recently in the late 90’s as folks moved from ‘Silicon Valley’ to ‘Silicon Hills’ and drove a runup in real-estate that mirrored the tech bubble. Once that was over, the high-end real-estate was crushed while the entry-level stuff stagnated for a few years.

There is definitely extreme growth on the I-35 corridor, but it has been going on for over a decade now. If the bubble tour is just now rolling into town they fashionably late to the party.