I am fresh out of residency and moved from VA to TN, and am currently working as a hospitalist.
It took me about 6 weeks to apply for and get a TN license. This included an inordinate amount of pestering the medical board when they repeatedly lost my application. I was licensed in June, right after I graduated.
I applied for hospital credentialling right after I got my license. Holy. Freakin. Hell. That was a painful experience and it took a ridiculous amount of time for someone who was straight out of residency and therefore had no nefarious background to check. I applied for credentialling in June. I was approved at 1 hospital in mid-September, and I just got on at the last hospital last week. It was a painful, painful process. Fortunately for me, I'm working for a private group and you do not need to be credentialled anywhere to work in their office so I was able to work in the outpatient setting and pay the bills while awaiting hospital privileges. I abhor outpatient medicine so this was less than ideal, but paychecks are helpful things so I did it. I've been told that the process here is much longer than getting credentialled in other locations, so at interviews I would definitely ask how long it takes and can you get the paperwork started if you hear that credentialling moves at a glacial speed.
If you decide to go the hospitalist route, I would start looking at the end of your second year or beginning of your third year. That will allow you plenty of time to narrow down where you want to be geographically, apply for your license, and then apply for credentials. That way the ball is in your court and you can pretty much pick your own start date and be ready to start work when you want. You don't want to be forced in to a 4-month unpaid vacation while your credentialling application waits to go to the next committee meeting. We're constantly interviewing for our hospitalist program and most of our applicants don't have a TN license much less credentials at any of our hospitals. They also usually have commitments (military, residency training, fellowship training, contracts with their current jobs) that push their start date pretty far in to the future. Employers are used to working on a distant time frame so applying over a year in advance will be nothing new.
Of course, none of what I just said applies to a rheumatology fellowship. So if you decide to go that route then just ignore my post. 😉