Entering 2020 as one of the strongest retail markets in the country, Nashville benefits from years of population and economic growth. While fundamentals softened in 2020, the outlook for Nashville remains favorable. The absence of large move-outs has kept the market’s positive net absorption, despite the slowed leasing activity. In the last 12 months, retail rents were among the fastest-growing in the country due to strong demographic trends, a resilient economy, and low vacancy rates. Dubbed “Music City,” Nashville has received numerous accolades and recognitions for its tourism and music industry. The metro ranks 11th for Popular Destinations by TripAdvisor, 8th in Best Cities in the U.S. by Condé Nast Traveler’s Readers’ Choice Awards, ranks among the 10 best Live Music Venues in America by Rolling Stone, and is among the list of America’s Best Bourbon Bars by The Bourbon Review. Although uncertainty has played into investment activity, a few significant trades have kept transaction volume positive.
In this report, you will find:
- Nashville Population Trends and Economic Demographics
- The Development Pipeline
- Occupancy and Rent Trends
- Latest Sales Volume