We moved to a small town last year about 15-20 minutes N/NW of Texas Motor Speedway. We love it because it's a small town kind of out in the country. For that budget, you should be able to get a nice house with acreage and a shop. Everything is starting to blow up just south of us and I imagine we will eventually get roped into the growth, but figure if it's done right, it will increase our property value and could bring some good retail/restaurants.
I will say, it's not the most convenient, but we're 15-30 minutes from shopping and eating in Denton/Lewisville/Ft Worth. My biggest complaint is that it's the same for grocery stores, but we go to Frisco once a month for HEB. It's about 45 minutes from the house. Once the new one opens in Alliance it will be about 25-30 minutes.
If you're looking in Southlake/Keller, I'd also consider Argyle.