Nashville, Tennessee

For those who were selling a home in Nashville, Tennessee in 2017, it was a great year – a top market in the U.S.A. In 2016, houses took 68 days to sell and close. In 2017, they took 60 days to sell and close. It is predicted for 2018 that things will start getting better for those who want to purchase a home.

For the past few years, Nashville home inventory could be characterized as being very low. The demand for housing is super high compared to inventory.

Basically, home inventory is very limited, and the value of homes is increasing greatly - even though it’s expected that things should slow down some. And it’s still predicted to be one of the hottest residential markets in the nation. So it looks like things will not slow down a lot.

It will still be a very competitive environment for home buyers in their search for a home. This is especially so for homes that are on the more affordable side.

It is expected that buyers will be involved in bidding wars – a joy for the current owner – not so for the buyer.

Let’s look at commercial real estate for Nashville.

The retail, hotel, and restaurant markets have been very strong. An oversaturated market is the big challenge. But it is thought that as long as visitors keep visiting and people keep moving here, demand will be part of the picture.

Let’s take the restaurant industry. Restaurants are in demand. Restaurants have increased 16% to 17% for the past 5 years.

The hotel market is strong. In recent years, income per available room has increased 7% to 8%. So there is still quite a bit of demand when it comes to rooms for hotels.