A boom is great while it lasts. Is Nashville’s boom sustainable for a few more years? The answer is no–but that doesn't mean an epic bust is ahead, Colliers International CEO & market leader Janet Miller tells us. She'll be one of the speakers at our first-ever State of the Market event in July.
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It's well known that Nashville’s underlying economic fundamentals–aside from real estate–are among the best in the nation, Janet says. We're sustained by healthcare, higher education, government, manufacturing and tech. These have kept job growth in Middle Tennessee in the top 10 nationally for the past seven years.
"And even in the worst economic downturns, Nashville typically stays in the positive net column for job growth while markets like Atlanta, Charlotte and Austin suffer large net declines in jobs," she notes.
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Since job growth drives virtually everything in commercial real estate, Nashville thus tends to weather the down cycles better. "Will there be an economic downturn here in the next five years?” Janet asked. "The logical answer is, of course there will be. But will it be as extreme as in other metro areas that don’t have our rock-solid fundamentals? I believe the answer is a resounding no."
Sign up now for the State of the Market—a real estate event unlike any you've ever been to, with breakfast, networking, informed expert opinion and a dash of fun. It begins at 7:30am on July 19 at the Doubletree by Hilton, Downtown.
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