Nashville Bits and Pieces

[bigeasy]

Nice shirt! I didn't know Nashville looked  that good in the 80s!!!

[markhollin]

A bit more news fromNBJ on the possible AllianceBernstein move to Nashville from NYC:

"We still don't know where we're going, what parts of the firm would go to the new principal location, or the timing," said CFO John Wesenseel. "We are further along in terms of discussions with different cities, different real estate developers than we were, say, two or three months ago but we still have a lot more work to do."

Weisenseel said his goal is to "wrap this up in the first half of the year." At that time, AllianceBernstein would further discuss the scale of the move and its timeframe, he said.

[Pdt2f]

For some reason the thought of a major AllianceBernstein office excites me more than even the amazon HQ possibility. A major company with a thousand plus employees working downtown is awesome, especially when:

1. The commitment of AB could greenlight one of the major projected office buildings downtown (and even add some height to one, maybe). 

2. While a large company, AB is nowhere big enough to cause the cultural disruption to our city that amazon is capable of. 

I would love it if while all the cities are pursuing amazon, we work behind the scenes and get like 4-5 major offices and HQ’s that are like 1,000 to 3,000 workers. 

[AronG]

On 3/13/2018 at 3:54 PM, markhollin said:

Is Nashville’s multifamily market overbuilt? Maybe...but not for long:

http://rebusinessonline.com/is-nashvilles-multifamily-market-overbuilt-maybe-but-not-for-long/

"...with urban deliveries projected to drop off 40 percent in 2018, and 80 percent in 2019, and no slowdown in renter demand on the horizon, the current imbalance is likely to correct itself in relatively short order."

Great! Somebody needs to start targeting 2019 delivery.

[Flatrock]

3 hours ago, AronG said:

Great! Somebody needs to start targeting 2019 delivery.

Exactly. A pretty encouraging Nashville rental report. I was thinking the market was overbuilt for a much longer time. Endeavor, 5th & Broadway...and some other big projects in the works oughtta be coming online just about right...2020/21.

[NissanvilleTitans]

I thought this was kind of cool. Other cities may have height on us but we beat a lot of US cities in number of high rise buildings. Tied with Milwaukee at 155 in a list that contains cities worldwide.

https://en.m.wikipedia.org/wiki/List_of_cities_with_the_most_high-rise_buildings

[markhollin]

[titanhog]

As much as we all love seeing Nashville grow...and some eyesores being replaced with 21st Century architecture...there is something to be said for neighborhoods changing so much and prices skyrocketing, forcing Nashville residents to the suburbs.

https://mobile.nytimes.com/2018/03/18/opinion/nashville-demolition-blues.html?smid=fb-share&referer=http://m.facebook.com

My old neighborhood isn’t recognizable anymore, and neither is this city, my home for more than 30 years. There are reasons to celebrate growth, and I don’t want to be like the cranky old neighbor who complained that we were driving up his property taxes without acknowledging that we were also increasing his property’s value. I know it’s nothing less than a luxury to live here. Most people would love to live in a place where the biggest problem is that the old trees keep dying, their roots covered in concrete and cinder block.

But something crucial is lost when a community becomes a place where people can’t afford to live in the same county where they work. Something important is lost when a neighborhood becomes a place where only the well off live — where a single parent will never again buy a house, where a schoolteacher will never again buy a house, where there’s no little rental house for a lonely widow to move into, right across the street from her daughter.

[Guest]

Good or bad, change is hard.

I sympathize with the plight of many priced-out of homes/neighborhoods due to rising property values. However, I have yet to see a workable 'plan' just platitudes (see my first sentence).
Some property tax abatement for the elderly is already in place. 
Another answer is to vote for politicians who advocate the lowering of property taxes. 
Renters in areas of rapid appreciation are being displaced as rental properties and apartments are moving upscale and raising rents. However, the upside to renting is not having any risk for property depreciation ...see 2008. 

 

[grilled_cheese]

I really don't think people are getting priced out because of property taxes.  It has to do more with traditional rentals being torn down and turned into tall skinnys or airbnbs.

[bhibbs]

im sure more than a few of you wish he would have just knocked it all down...

[MLBrumby]

Damn! It missed! 

[smeagolsfree]

It should have been a 18 wheeler. We can only hope.

[Pdt2f]

Not all heroes wear capes. 

[Chris Lee]

Telephone poles are remarkably resilient.

[Salbato]

Census release this morning with July 2017 state and county estimates. I can't post all the numbers right now maybe someone else can 

[Nash_12South]

Nashville MSA July 1, 2016 - 1,868,855 people

Nashville MSA July 1, 2017 - 1,903, 045 people

Change    +34, 190, roughly 94 people per day

[MLBrumby]

That rate will put you guys OVER 2 million by next census.

[jmtunafish]

Tennessee grew by 66,580 which means that just over half of the state's growth (51.4%) was in the Nashville MSA.

Some other tidbits about the numbers released today:

• Tennessee grew by 1 percent.  There were 30 counties which grew faster than the state average; 20 in Middle Tennessee, 9 in East Tennessee, and 1 in West Tennessee.
• Of Tennessee's 95 counties, 18 experienced a population decline including the state's most populous, Shelby.
• The Cookeville micropolitan area was the 8th fastest growing in the entire country in numeric growth (1,660), and the Lewisburg micropolitan area was the 6th fastest growing in the entire country in percentage growth (3.0%).

Here's how Tennessee's metropolitan areas fared:

metro area...2017 pop...1-yr change...% change

Nashville...1,903,045...34,190...1.8    
Memphis...1,348,260...3,067...0.2
Knoxville...877,104...9,234...1.1
Chattanooga...556,548...4,591...0.8
Kingsport-Bristol...306,659...766...0.3    
Clarksville...285,042...4,199...1.5
Johnson City...202,053...710...0.4
Jackson...129,235...152...0.1
Cleveland...122,317...1,140...0.9
Morristown...118,081...1,207...1.0

And Tennessee's micropolitan areas:

micro area...2017 pop...1-yr change...% change

Cookeville...111,363...1,660...1.5
Tullahoma-Manchester...103,070...782...0.8
Sevierville...97,638...1,029...1.1
Greeneville...68,808...249...0.4
Crossville...59,078...546...0.9
Athens...52,877...218...0.4
Shelbyville...48,117...697...1.5
Lawrenceburg...43,396..417...1.0
McMinnville...40,651...251...0.6
Dyersburg...37,463...-142...-0.4
Union City...36,577...-129...-0.4
Newport...35,556...396...1.1
Martin...33,337...-231...-0.7
Lewisburg...32,931...958...3.0
Dayton...32,691...299...0.9
Paris...32,450...205...0.6
Brownsville...17,573...-230...-1.3

Edited March 23, 2018 by jmtunafish

[jmtunafish]

Here's how the counties in the Nashville MSA fared:

county...2017 pop...1-yr growth...% change

• Davidson...691,243... 2,342... 0.34
• Rutherford...317,157...9,474...3.08
• Williamson...226,257...7,369...3.37
• Sumner...183,545...4,437...2.48
• Wilson...136,442...4,009...3.03
• Maury...92,163...2,575...2.87
• Robertson...70,177...1,000...1.45
• Dickson...52,853...931...1.79
• Cheatham...40,330...602...1.52
• Hickman...24,864...215...0.87
• Macon...24,079...624...2.66
• Smith...19,636...170...0.87
• Cannon...14,216...309...2.22
• Trousdale...10,083...133...1.34

[MLBrumby]

Davidson County grew by 2342 from July '16 to July '17!?!?!?!?  I'm gonna call BS on that. The number is about 10k less than where I'd expect. I think what the case with DC is... as usual the folks who provide the raw data for new residential information are slipshod (at worst) and just plain behind the curve (at best). For the past 30 years, I have noticed that the census estimates for DC are just careless. Then each decennial census the numbers get trued (usually) up. Nashville/Davidson authorities simply don't tout their population growth like other cities. (heck, I've even seen local news stories using 8-10 year old population figures). 

Thoughts? 

Weren't there at least 2300 apartment units completed within the I-440/Briley Pkwy circle alone? 

[titanhog]

Yeah...hard to believe Rutherford County added 4X more than Davidson.

[LA_TN]

On 3/22/2018 at 7:53 AM, bhibbs said:

im sure more than a few of you wish he would have just knocked it all down...

Confirmed. Demolition attempt failed 

[titanhog]

^^Really messed up that incredibly manicured landscaping. 

[Pdt2f]

I mentally imagine the crash looking like when Randy Quaid kamikazes the jet into the space ship at the end of Independence Day. Both noble, selfless gestures.