Jump to content

More Accolades for Nashville


Guest 5th & Main Urbanite

Recommended Posts

Re/Max's November housing report places Nashville as the #1 home sale market in America.  Average home sale is 12 days after being put on market, half of what it was a year ago Home sales in Nashville are up 7% over 2020 and prices have increased by nearly 18%.

More at NBJ here:

https://www.bizjournals.com/nashville/news/2021/12/20/nashville-housing-report-november-2021.html?cx_testId=40&cx_testVariant=cx_34&cx_artPos=0#cxrecs_s

  • Like 3
  • Sad 1
Link to comment
Share on other sites


4 hours ago, satalac said:

I've heard they have a fantastic bookstore. 

From their billboard advertising I assume the selection of reading materials is stimulating. (I wonder if there’s a Starbucks…no mention of it on the billboard, oddly enough. Perhaps the stimulation of the caffeine would be redundant.)

  • Haha 3
Link to comment
Share on other sites


4 hours ago, markhollin said:

According to the study published by Stessa, the Nashville region had a 270.9% increase in six-figure jobs from 2015 to 2020 — the largest percentage increase among the country's large metros, making it #1 out of Top 15 metros ranked in U.S.

https://www.stessa.com/blog/cities-with-high-paying-job-growth/

Screen Shot 2021-12-27 at 2.19.09 PM.png

 

And Chattanooga came in 5th among mid-sized metros.

Chart4_Small-and-midsize-metros-with-the-most-growth-in-high-paying-jobs.png

  • Like 3
Link to comment
Share on other sites

  • 2 weeks later...
  • 2 weeks later...

On 1/24/2022 at 8:19 AM, markhollin said:

Nashville's 10 county metro is expected to grow by 200,00 in next 5 years. That will work out to an average of 109 new people per day. It had slipped to 76 per day in 2020.

More at The Tennessean here:

https://www.tennessean.com/story/news/2022/01/24/nashville-population-boom-people-celebrities-from-chicago-los-angeles-new-york/6568429001/

 

3 hours ago, markhollin said:

Apartment Insiders determines that Nashville is the #1 city in the nation for new apartments coming online in 2022.

There are currently 21,000 apartments under construction in Nashville, which equates to 12.8% of current inventory. In 2011, there were less than 5,000 units under development.

More at NBJ here:

https://www.bizjournals.com/nashville/news/2022/01/25/apartment-inventory-boost-2022.html

I’d be curious to know how many are in the pipeline for the metro as a whole. If the population increase estimates in the first story are correct than this 21,000 apartments may account for about 6 months of population growth.  

Link to comment
Share on other sites

For a bit of context, the 200,000 in five years figure comes from Ralph Schulz, President of the Nashville Chamber of Commerce. I'm not trying to take a dig at his credibility, but he definitely has a strong interest in the city growing well, so the figure may be a little aggressive. Also, the 200,000 figure is for the Metro as a whole, and I believe the 21,000 apartments figure is only referencing Nashville proper. As per the 2020 census, the Nashville Metro grew by 343,000 in the previous decade, with 88,000 of that (26%) in Nashville proper. If that same percentage applies to the next decade, Mr. Schulz's prediction would round out to approximately 12,500 per year moving into Nashville proper.

So in my opinion, the upcoming deluge of apartment inventory will cause the rental market to cool off a bit, or at the very least hold prices stable, as supply gains some ground on demand.


Edit: Re-checking my numbers and I remembered that Maury county was added to the Nashville Metro this census, and Hickman county was removed, for a net gain of ~76,000 people. So the "natural" growth of the metro is more like 267,000 instead of 343,000.

Edited by colemangaines
  • Like 4
Link to comment
Share on other sites

LOL I moved from Raleigh to Daytona Beach.  From the top 5 to the bottom 5? 

Doesn't seem that way here. Houses going up everywhere!  FL is on fire.  

But with the transition to remote working, you'll see movement toward the southern climes. 

  • Like 3
Link to comment
Share on other sites

Investors bought over $1.83 billion worth of commercial real estate property last quarter — and nearly three times that amount for 2021 in total — marking a new record for Nashville.

Last year’s fourth-quarter volume marked a $600 million increase from the quarter before. The number of transactions for the same period, 190, was also the second-highest it’s ever been — just 26 deals fewer than 2017’s fourth-quarter record, which generated a much lower volume of $816.62 million.

More at NBJ here:

https://www.bizjournals.com/nashville/news/2022/02/10/cre-sales-record.html?cx_testId=40&cx_testVariant=cx_34&cx_artPos=0#cxrecs_s

  • Like 4
Link to comment
Share on other sites

On 2/9/2022 at 9:18 PM, rolly said:

LOL I moved from Raleigh to Daytona Beach.  From the top 5 to the bottom 5? 

Doesn't seem that way here. Houses going up everywhere!  FL is on fire.  

But with the transition to remote working, you'll see movement toward the southern climes. 

Yeah you are not wrong it is growing so fast in Miami the apartment I live in is on the very outskirts near the everglades

  • Like 1
Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
×
  • Create New...

Important Information

By using this site you agree to our Terms of Use and Privacy Policy. We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.