A person, usually of retirement age, who has sold or left their home and now resides in a caravan, camper van or RV.
Their name is given as they (being older) generally have grey hair and lead a nomadic lifestyle.
Grey nomads are generally found in the caravan parks of Australia, or driving slowly up country mountain roads, with a long line of irate drivers behind them.
I called to book into the caravan park in 6 months, but it's chock full of grey nomads for years.