Middle Tennessee’s economy is snapping back so quickly that its biggest problem may be caused by its biggest triumph – unfettered growth.
Dozens of cranes fill the skyline and unemployment is quickly dropping from record pandemic highs as the commercial real-estate market booms, according to Colliers Index Nashville, a leading regional analysis of the overall economy’s performance.
Tens of thousands of new jobs are on tap, fueled by the area’s increasing popularity with large corporations and big-city transplants.
“The data shows that we survived the storm that was 2020 and the outlook remains incredibly bright for Nashville,” said Janet Sterchi, partner at Colliers International. “If the pandemic taught us anything it’s that people have a choice where they want to live. And Nashville is on the winning end.”
The strong and quick recovery has brought the region’s overall health back to 2019 levels in key areas, according to the Index.