More Accolades for Nashville

[markhollin]

Nashville is on pace to set a new record for construction permits in the fiscal year 2021 (ending June 30th) with $5.3 billion, up over 13% from last year. 

More at NBJ here:

https://www.bizjournals.com/nashville/news/2021/06/21/building-permits-exceed-5-billion.html

[markhollin]

According to the latest Tennessee Quarterly Business and Economic Indicators report, the state saw new business filings grow by 19,652 in Q1 2021, a 55.1% increase year-over-year, and the largest tally of new business filings on record (dating back to 1993).

More at NBJ here:

https://www.bizjournals.com/nashville/news/2021/06/21/historic-business-filing-surge.html

 

[markhollin]

Smart Pension Ltd., a London-based retirement tech company is opening their American HQ with the name Smart USA Co. inside of Cummins Station.  No word on how many square feet they will lease, but the $2 million investment  will employ 128 folks.  

“Nashville has all the recipes to be a great place to work and live,” Smart USA Co. CEO Jodan Ledford said in the release. “We are excited to be among the trailblazers putting down roots here and to join the growing Nashville fintech community.”

More behind the Nashville Post paywall here:

https://www.nashvillepost.com/business/finance/retirement-tech-company-establishing-u-s-headquarters-in-nashville/article_b9107e74-df3a-11eb-b214-97e6ad887f83.html

[markhollin]

Area home sales in June were up 11% over June of 2020. Median price is at $415,000, up 25% from a year ago.  Median condo price is now 292,570, up  20%.

More behind the Nashville Post paywall here:

https://www.nashvillepost.com/business/development/area-home-sales-rise-11-as-inventory-improves-a-bit/article_1467bff6-df56-11eb-bd36-a70bd2a8f95f.html

[Flatrock]

From the NBJ, and technically - these accolades are for Tennessee.

"Tennessee has landed in the top 5 best states for business for the first time ever.  

The Volunteer State is the fifth best state for business in the country, according to results from a CNBC study announced Tuesday.

CNBC special correspondent Scott Cohn said in a release that this year’s study is a measurement of which states are the most likely to succeed when the nation comes out of the Covid-19 pandemic. 

In the study, all 50 states were ranked and given points in 85 metrics across these ten categories: cost of doing business; workforce; life, health & inclusion; economy; infrastructure; technology & innovation; education; business friendliness; access to capital; and cost of living.

Tennessee ranked highest in economy at number 2 in the nation. It also scored in the top 10 in cost of doing business, cost of living and infrastructure.

The state’s lowest score was in the life, health & inclusion category, placing 46^th in the nation. CNBC credited this score to high crime levels, low Covid vaccination rates and recent laws targeting transgender rights.

Business friendliness, technology & innovation and cost of living were the only other categories where Tennessee did not move up in the rankings from 2019 to 2021."

https://www.bizjournals.com/nashville/news/2021/07/15/tennessee-lands-top-five-slot-best-states-for-biz.html?csrc=6398

 

[MLBrumby]

I often wonder if the people who rank states like this even know what they're looking at, much less actually visit the states.  I mean, is Covenant Health one of the two major private businesses?  I get Fedex, but there are at least a couple dozen other companies that I'd expect outrank Covenant.  I imagine a newbie straight out of college given this assignment and trying really hard to do web searches on businesses in all the states.  Probably found HCA and when finishing up the article couldn't remember it specifically; so went out and found another healthcare company in Knoxville.  They certainly didn't use the US Census official population. Anyway, it's good to be recognized as one of the 'best' states for business. 

[markhollin]

Nashville is rated best city in U.S. for first-time home buyers by SmartAsset.  163 markets were analyzed for the study. Nashville ranked in the top 10% of cities for three of the four categories: home market favorability, affordability and employment.  Murfreesboro came in #5 in the study. 

More at NBJ here:

https://www.bizjournals.com/nashville/news/2021/07/19/nashville-ranks-best-city-for-first-time-homebuyer.html?cx_testId=40&cx_testVariant=cx_34&cx_artPos=1#cxrecs_s

 

[smeagolsfree]

That's all well and good if you can find a house and the only folks that can really afford them are moving from the cities a  higher cost of living. William and I sort of took issue with the report. I emailed the good folks at SmartASSet and pretty much told them this report was horse manure!

[NashRugger]

Even Murfreesboro is becoming a more mature, as far as first-time price point, versus just a few years ago. At this point, I’d venture with Wilson County being the most affordable as a whole for the metro now, as far as core counties are concerned.

The next county after Wilson we’ll see is likely to be Robertson.


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[markhollin]

Greater Nashville is ranked 2nd in the United States for fastest selling homes by a new Re/Max National Housing Report. The only market with quicker turnaround time is Cincinnati.

More at NBJ here:

https://www.bizjournals.com/nashville/news/2021/07/20/nashville-fastest-selling-housing-market-june-2021.html?cx_testId=40&cx_testVariant=cx_34&cx_artPos=0#cxrecs_s

[andywildman]

20 hours ago, NashRugger said:

Even Murfreesboro is becoming a more mature, as far as first-time price point, versus just a few years ago. At this point, I’d venture with Wilson County being the most affordable as a whole for the metro now, as far as core counties are concerned.

The next county after Wilson we’ll see is likely to be Robertson.


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With 65 North going to 3 lanes in the next couple years (per TDOT), the White House through Franklin, KY area will see a lot of development, both in Sumner and Robertson.

[rolly]

11 hours ago, andywildman said:

With 65 North going to 3 lanes in the next couple years (per TDOT), the White House through Franklin, KY area will see a lot of development, both in Sumner and Robertson.

Yes! The Franklin Corridor!

[nightranger36]

Probably 10 years before that gets completed.TDOT is doing it in segments. First segment is up at the ky state line. Three years to complete that. Then on to the next phase. Long hollow/millersville needs expansion right now! From 5 lanes to 2 is unacceptable and has been for years. I drive it daily .It backs up on sunday afternoons.

[markhollin]

Nashville ranked #3 in Top Ten Best Metros for Generation Z (borne between 1997 and 2012) in the country according to a report from CommercialCafe.

https://www.commercialcafe.com/blog/top-10-metros-gen-z/?utm_source=Sailthru&utm_medium=email&utm_campaign=2021.07.22 NASH&utm_term=NASHtoday Subscribers - MASTER

[markhollin]

Nashville market ranked #6 in Best Places to Invest in 2021 by CrowdStreet:

https://info.crowdstreet.com/hubfs/best-places/2021-CS-best-places.pdf?hsLang=en&_ga=2.78560669.849870686.1627051083-1331335486.1627051083&_gac=1.205196580.1627051113.EAIaIQobChMI6Ku7zLX58QIVJgaICR3hiAXREAAYASAAEgK5gPD_BwE
 

[markhollin]

Tennessee is ranked #3 in nation for Best States to Retire in 2021 by Bankrate.  The state ranked #1 in overall in affordability.

More here:

https://www.bankrate.com/retirement/best-and-worst-states-for-retirement/

[Flatrock]

A new report from STESSA names Nashville as the highest economic growth metro in 2021, to date, for large cities in the U.S..

Raleigh came in at #2 and Austin at #3. 

https://www.stessa.com/blog/cities-with-most-economic-growth/

 

 

Edited July 29, 2021 by Flatrock
Clarification

[jmtunafish]

8 hours ago, Flatrock said:

A new report from STESSA names Nashville as the highest economic growth metro in 2021, to date, for large cities in the U.S..

Raleigh came in at #2 and Austin at #3. 

https://www.stessa.com/blog/cities-with-most-economic-growth/

 

 

And Clarksville is ranked 9th in the country for small metros.  Very impressive to have both Middle Tennessee metropolitan areas ranked.  No other metro areas in the state were ranked.

[Armacing]

2 hours ago, jmtunafish said:

And Clarksville is ranked 9th in the country for small metros.  Very impressive to have both Middle Tennessee metropolitan areas ranked.  No other metro areas in the state were ranked.

Also good to see Huntsville at the top of the list for Mid-Sized metros.  I would argue that from a certain point of view, Huntsville is somewhat within Nashville's sphere of influence.

[Mr_Bond]

3 hours ago, Armacing said:

Also good to see Huntsville at the top of the list for Mid-Sized metros.  I would argue that from a certain point of view, Huntsville is somewhat within Nashville's sphere of influence.

Yes, Huntsville is somewhat within our sphere.  I have a few clients there and they don't mind doing business with a Nashville-based firm.

[Flatrock]

Wasn't sure where to park this. Great, short article from Forbes on this weekend's Music City Grand Prix - including a non-standard city photo. FYI - we're expecting 110,000 people for this thing.

A snippet of the article from 'Forbes' 

"Nashville is known as Music City. But come this weekend, the roar of the NTT IndyCar Series will take over the heart of the city.

Nashville’s passion for motor sports is well known, dating back to the famed Nashville Fairgrounds Speedway’s opening in 1904. However, for the first time, the city streets will shut down for the Big Machine Music City Grand Prix on a 2.17-mile circuit.

One of America’s top cultural cities is partially closing its streets for a major motor sports spectacle. The race’s ownership group is nothing short of impressive, including the likes of Justin Timberlake, NBC Sports’ Dale Earnhardt Jr., Big Machine President and CEO Scott Borchetta, Trackhouse Racing owner Justin Marks and more..."

https://www-forbes-com.cdn.ampproject.org/v/s/www.forbes.com/sites/josephwolkin/2021/08/03/nashville-is-shutting-down-for-its-first-music-city-grand-prix/amp/?amp_js_v=a6&amp_gsa=1&usqp=mq331AQKKAFQArABIIACAw%3D%3D#aoh=16280258494708&referrer=https%3A%2F%2Fwww.google.com&amp_tf=From %1%24s&ampshare=https%3A%2F%2Fwww.forbes.com%2Fsites%2Fjosephwolkin%2F2021%2F08%2F03%2Fnashville-is-shutting-down-for-its-first-music-city-grand-prix%2F

Edited August 4, 2021 by Flatrock
Highlights

[Bos2Nash]

17 hours ago, Flatrock said:

One of America’s top cultural cities is partially closing its streets for a major motor sports spectacle.

No offense to our city, but I don't think people outside of Nashville view us as a cultural hotspot... I think we can still do much better in that department

[markhollin]

FedEx has announced plans to hire 1,100 new employees at stations all across the Nashville area. Most will be package handlers, but some Operations Manager positions are also to be available. 

More at NBJ here:

https://www.bizjournals.com/nashville/news/2021/08/02/fedex-ground-expands-operations-new-jobs.html?cx_testId=40&cx_testVariant=cx_34&cx_artPos=4#cxrecs_s

[jmtunafish]

7 hours ago, Bos2Nash said:

No offense to our city, but I don't think people outside of Nashville view us as a cultural hotspot... I think we can still do much better in that department

Country music is most certainly "culture."  There's more to "culture" than symphonies and Renaissance art.

[Mr_Bond]

19 hours ago, jmtunafish said:

Country music is most certainly "culture."  There's more to "culture" than symphonies and Renaissance art.

This Reader's Digest list of the best cities for live music begins with "Of course, Nashville is at the top of the list.  So, other than Nashville..." 

https://www.rd.com/list/best-american-cities-for-live-music/