If Nashville can maintain its impressive job growth and new construction numbers, there’s a very good chance that occupancy can be sustained at the essentially full mark of about 95%. However, the metro will be challenged to achieve big rent growth.
Nashville has recently found itself as a national leader in terms of apartment construction activity as developers are drawn to the metro by a strong economy, favorable demographics, and a healthy apartment market.
Nashville’s apartment market continues to post strong occupancy rates and big rent growth. Developers have responded by significantly ramping up construction activity in the metro’s two highest-rent submarkets.
With occupancy rates in good shape across the board, and with rent growth at unusually high levels, new apartment construction in Nashville is ramping up quickly.
Nashville’s apartment market is in good shape, but recently has seen its pace of improvement slow somewhat.
Nashville was one of the nation’s top-performing apartment markets in 2010, then hit a speed bump in the first half of 2011. What happened in the third quarter? Good things.
The Southeast’s big stand-out product segment across the various metros right now is the top half of the market in Nashville.
Greg Willett and Jay Parsons look at markets that had high expectations going into 2011, but so far have not lived up to the hype.
Tennessee’s three largest apartment markets performed very differently in 2010. Not surprisingly, Nashville stands above Memphis and Knoxville.
With revenues up more than 10 percent so far in 2010, Nashville has been one of the nation’s top-performing apartment markets.