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Guest 5th & Main Urbanite

More Accolades for Nashville

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Smart Asset has published a survey to find metros where small business sentiment is more positive as business expectations were depressed nationwide.

SmartAsset looked at four metrics among the 50 largest metros in the U.S. Those metrics include percentage of small businesses that are operating at normal levels; percentage of small businesses that do not expect a return to normal levels of operations within six months or ever; percentage of small businesses looking to hire new employees; and percentage of small businesses with three or more months of cash on hand.

Metro Nashville ranked 10th on the list, with 30.1% of companies having at least three months of cash on hand and 29.4% of companies operating at normal levels. The area fell close to the middle of the pack in terms of small businesses that don’t foresee returning to normal operating levels in six months or ever at 52.2%. Approximately a quarter of small businesses in the area are looking to hire new employees.

More at NBJ here:

https://www.bizjournals.com/nashville/news/2020/12/29/study-top-metros-with-small-biz-optimism-nashville.html

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Remarkable to me that Atlanta always used to be right at the top of such lists. Not even in the top 10 now.  Things have changed so much with the business climate in Georgia. 

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Nashville is ranked #10 in the nation for new apartment construction in 2020 according to RealPage, Inc. , ranking ahead of Atlanta and Charlotte, among others.

As of October, supply in the market had increased by about 5,500 units in 2020, with another 11,000 units in the pipeline.

And, according to the CoStar, downtown Nashville has increased its apartment inventory by more than 500% since 2010. 


More at NBJ here:

https://www.bizjournals.com/nashville/news/2020/12/30/apartment-construction-nashville-new-starts.html?cx_testId=40&cx_testVariant=cx_34&cx_artPos=1#cxrecs_s

   
 
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10 minutes ago, nashvylle said:

@markhollin does the article say how rents have managed over the past few years? IE have they remained steady, increased, decreased any? 

I don't. have access to the source article.  Sorry.  

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23 minutes ago, markhollin said:

Nashville comes in at #27 on Travel & Leisure's "Top 50 Places to Visit in 2021" list.

https://www.travelandleisure.com/trip-ideas/best-places-to-travel-in-2021

 

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Thanks Mark!

Just to clarify - the list is alphabetized, so it's not a ranking. "Nas" just happens to fall in the 27th position, but there's only like 15 or so cities on the list and we're in pretty good company. 

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6 hours ago, jmtunafish said:

To me, this shows that while the big announcements of business relocations and expansions are sexy, it's our small businesses that deserve a lot of credit for our area's growth and prosperity. 

100% agree and thank you for posting this data.   One obvious thing that stands out is the dark blue states mostly lack a state income tax (WA, NV, WY, SD, TX, TN, FL, NH).  It is such a huge advantage for Tennessee over all the surrounding states and it definitely factors in to relocation decisions ranging from large corporations all the way down to individual retirees.  

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