More Accolades for Nashville

[Flatrock]

Here's a sneak peek (preview trailer) for next week's CNBC focus on Nashville in their upcoming 'Cities of Success ' series. Some tantalizing clips.

https://www.cnbc.com/video/2023/11/28/cnbcs-cities-of-success-nashville-sneak-peek.html

Edited December 1, 2023 by Flatrock

[markhollin]

CNBC's "Nashville: City of Success" one hour documentary that aired last night was absolutely stellar.  The best summary of how we have gotten to where we are, what is happening currently, and what the future may hold.  I believe it will be airing again tonight (Thurs. Dec. 7th) at 7 PM Central Time.  If I can get any further clarification on that I will post.

Here is an interview with Squawk on the Street co-anchor Carl Quintanilla (who hosts the documentary) explaining how Nashville went from economy powered by music to a city attracting companies like Amazon, Oracle, Meta, and Nissan. Plus, the two discuss the city’s Major League Baseball ambitions, how healthcare became the city’s biggest economic driver, and what Nashville is doing to build up its downtown area.

https://www.cnbc.com/video/2023/12/06/carl-quintanilla-previews-cities-of-success-nashville.html
 

[chris holman]

https://youtu.be/ck3WYNfpyAA?si=MYqL9rUzuDByijJ8

[jmtunafish]

Nashville ranks 4th in the country for corporate HQ relocations in the last 5 years per CBRE.

Biggest gainers of corporate HQ relocations:

1. Austin - 66
2. Dallas - 32
3. Houston - 25
4. Nashville - 21
5. Denver - 11

Biggest losers of corporate HQ:

1. SF/San Jose - 79
2. L.A. - 50
3. NYC - 21
4. San Diego - 11
5. Chicago - 10

https://www.cbre.com/insights/viewpoints/the-shifting-landscape-of-headquarters-relocations-trends-and-outlook

[smeagolsfree]

On the flipside.

9 Places Where Homes Are Taking Forever to Sell Now (msn.com)

[markhollin]

Nashville ranked #2 in nation in GDP growth for 2022 according to the U.S. Bureau of Economic Analysis, coming in behind Austin and ahead of Orlando. 

“A major strength of Nashville’s economy is its diversity, which means that the impacts of national recessions are softened in the Nashville region,” the chamber said in its analysis. “Recessions are shallower in Nashville and the local economy recovers relatively quickly.”

Nashville’s bounce back from the pandemic resulted in 10.6% growth in 2021 and 6.3% in 2022. 

Tennessee itself has the third most counties in the top 15% with 26, behind Texas with 38 and Georgia with 36. 

More at NBJ here:

https://www.bizjournals.com/nashville/news/2023/12/18/nashville-growth-chamber-second-nation-commerce.html

[markhollin]

This year, the city saw nearly 11,500 new units come to the market, which is an all-time high for Music City, according to CoStar research. Nashville ranks second in multifamily growth among the country’s largest markets, experiencing a 24.4% increase since 2020 on the heels of Austin’s 25.5%.

However....

The large influx of new units has caused multifamily to experience its highest vacancy rate in 20 years at 11.1%, landing the city among the top five markets in the U.S. for vacancy rates, according to CoStar research.

“The largest influx of supply at one time in the past two decades … it's somewhat of a short-term pain for what can be potentially seen as long-term health,” Michael Cobb, CoStar Group's Nashville director of market analytics, told the Business Journal.

The demand for multifamily is proving resilient despite the unstable economic environment.

Downtown Nashville is on track to break its own record in units occupied this year. The downtown submarket has seen 3,100 units occupied over the past year, which is on par with the demand seen in 2018 and is likely to surpass the previous record between now and the end of the year.

“From a numerical standpoint, it's been an all-time high year for demand downtown. But you also have year-to-date 4,400 units that have opened downtown … so it's still lagging to the tune of 1,300 units,” Cobb said.

Nearly 18,000 units are in Nashville’s pipeline, according to CoStar research, but multifamily construction starts are beginning to slim as developers grapple with increased interest rates and construction costs.

As new development begins to dampen, the future slowdown in deliveries will allow existing units to have the chance to be filled.

More at NBJ here:

https://www.bizjournals.com/nashville/news/2023/12/19/nashville-multifamily-record-deliveries-costar.html

[markhollin]

Tennessee was among the hottest states in the country for where people were moving last year, according to the latest annual ranking from U-Haul International Inc. The Volunteer State ranked No. 5 among the top U.S. growth states in 2023, up from No. 6 in 2022. 

More at NBJ here:

https://www.bizjournals.com/nashville/news/2024/01/05/u-haul-moving-data-tennessee-murfreesboro.html

[markhollin]

Eastside Bowl has been chosen one of "The World's 13 Most Unique Bowling Alleys" by Architectural Digest.

https://www.architecturaldigest.com/gallery/worlds-most-unique-bowling-alleys?utm_term=nashtoday&utm_campaign=daily-newsletter&utm_medium=newsletter&utm_source=nashtoday&utm_content=nashtoday
 

[markhollin]

Hastings Architecture received national honors for three Nashville projects from Architect Magazine. The awarded projects include Peabody Plaza, a nine-story office building in downtown’s South Bank; Christ Presbyterian Academy’s Fine Arts Center; and Virgin Hotel Nashville.

More at NBJ here:

https://www.bizjournals.com/nashville/news/2024/01/12/nashville-yards-pinnacle-tower-sign-modification.html

[andywildman]

2 hours ago, markhollin said:

The awarded projects include Peabody Plaza, a nine-story office building in downtown’s South Bank

Ah yes, the historic "South Bank" neighborhood 

[donNdonelson2]

47 minutes ago, andywildman said:

Ah yes, the historic "South Bank" neighborhood 

Almost as historic as the legendary “Pie Town.” 

[markhollin]

Tennessee ranks #10 for the best states to start a business in 2024, according to a new ranking from WalletHub.

More at The Tennessean here:

https://www.tennessean.com/story/money/2024/01/16/tennessee-among-top-ten-best-states-to-start-a-business-in-2024/72242070007/

The full study is here:

https://wallethub.com/edu/best-states-to-start-a-business/36934

[markhollin]

Yelp has named three Nashville restaurants to its Top 100 Places to Eat in the U.S. 2024 list.

Tutti Da Gio (5851 Old Hickory Blvd. in Hermitage) serves Italian food of Sicily, and is ranked #31.

Degthai (3025 Nolensville Pike in Nashville) serves Thai food and is ranked #45.

Sindoore (457 Donelson Pike in Donelson) serves Northern Indian cuisine, and is ranked #78.

More at NBJ here:

https://www.bizjournals.com/nashville/news/2024/01/23/yelp-top-restaurants-tutti-da-gio-degthai-sindoore.html

[markhollin]

Nashville comes in at #7 on Tripadvisors "Best of the Best Top Destinations in the United States for 2024" list:

https://www.tripadvisor.com/TravelersChoice-Destinations-cTop-g191#filters-area

Also came in #6 on their Top Food Destinations in the U.S. list for 2024.

Fewer than 1% of Tripadvisor’s 8 million listings are awarded Best of the Best rankings.

(Sure wish our Chamber of Commerce or Convention & Visitors Bureau would send new skyline phots to big website like these every 3 months or so.  This one utilized here is at least 4 years old).
 

[markhollin]

Tennessee is ranked #6 in the nation on The Best Places to Start a Business list put together by Simplyfy LLC. the state ranks high in several key factors, including job creation and educated worker migration.  

https://www.simplifyllc.com/best-and-worst-states-to-start-a-business/

[markhollin]

Music City ranks No. 6 on the latest Best-Performing Cities Index from The Milken Institute, a global nonprofit think tank.  The report highlights the city’s competitive wage growth, employment opportunities and high-tech GDP growth, as well as its strong tourism industry.

More at NBJ here:

https://www.bizjournals.com/nashville/news/2024/02/07/milken-institute-best-performing-cities-2024-no-6.html

[markhollin]

Brooklyn Bowl is awarded Top Central U.S. Club/Theater in Billboard's 2024 Top Music Venues list:

https://www.billboard.com/pro/top-music-venues-2024-billboard/
 

[markhollin]

Nashville jumped up one spot to #4 in top target markets for commercial real estate in the U.S. according to CBRE's U.S. Investor Intentions Survey. 

“The culture of Nashville is very attractive right now. There's always been a lot of energy to the city. When investors physically come and visit the city, they feel the energy as they're walking around downtown and visiting various parts of the of the market,” Morgan Hillenmeyer, senior vice president at CBRE Nashville, told the Business Journal. “They like the culture, the potential for growth, and it's also not a huge market yet. As the overall economy improves, investors feel that Nashville will recover faster than other markets.”

More at NBJ here:

https://www.bizjournals.com/nashville/news/2024/02/15/cbre-nashville-ranks-fourth-for-cre-investment.html

[markhollin]

Locust Restaurant at 2305 12th Ave. South has been chosen on of USA Today's "Best Restaurants of the Year, 2024." There were 47 eateries across the nation included in the list.

https://www.usatoday.com/story/life/food-dining/2024/02/15/best-restaurants-of-the-year-across-usa/71909704007/#locust

[markhollin]

Metro Nashville Public Schools has far outpaced most of its peers nationwide when it comes to post-pandemic academic recovery, according to a newly released scorecard from Harvard and Stanford universities.

Out of the top 100 districts nationwide, the district ranked third for math growth from 2022 to 2023 and sixth in reading growth in that same time period. It was also one of two large urban districts that earned a place in the top 10 list for math and reading growth.

More at The Tennessean here:

https://www.tennessean.com/story/news/education/2024/02/13/nashville-schools-rank-top-nation-math-reading-recovery-after-pandemic/72584619007/?utm_term=nashtoday&utm_campaign=daily-newsletter&utm_medium=newsletter&utm_source=nashtoday&utm_content=nashtoday

[markhollin]

Brentwood was ranked the #1 suburb in which to retire in the U.S. according to home enthusiast brand, This Old House.  

Brentwood stood out due to the suburb's financial well-being, high life expectancy, low climate risk, low crime rate, and low senior poverty rate. According to the study, Brentwood has a low crime rate of nine per 1,000 residents and only 3.7% of Brentwood’s residents older than the age of 65 live below the poverty line. The average Brentwood resident also lives to be 81.5 years old compared to the national average of 76.4 years old.
 

Other area towns that placed high on the list:

- Franklin at 5th place (97.4/100)

- Hendersonville at 27th place (92/100)

- Spring Hill at 29th place (91.8/100)

- Mount Juliet at 32nd place (91/100)

More at The Tennessean here:

https://www.tennessean.com/story/news/local/2024/02/23/whats-the-best-place-to-retire-this-tennessee-suburb-tops-the-list/72686987007/

[markhollin]

Southern Living Magazine rates Nashville the 3rd Best Restaurant City in the region for 2024;  The Pink Hermit (inside Hermitage Hotel) is chosen as Best New Restaurant in Tennessee; and Peg Leg Poker chosen Best Barbecue in Tennessee for 2nd straight year.

More at NBJ here:

https://www.bizjournals.com/nashville/news/2024/03/06/two-nashville-restaurants-make-southern-livings.html

[markhollin]

Thirteen Nashville-area companies ranked among the 200 fastest-growing firms in the Southeast, a group made up of Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana, Mississippi, Puerto Rico, South Carolina and Tennessee.

The Inc. 5000 Regionals is an extension of the prestigious Inc. 5000 franchise, which was most recently topped by Nashville-based health care company CareBridge.

Overall, the Nashville companies accounted for 360% median growth and 963 added jobs.

The following Nashville-area companies made this year’s regional list:

No. 3 – Spartan Fitness Holdings, 1,707% revenue

No. 4 – COACT Agency, 1,655%

No. 16 – Legendary Supply Chain, 847%

No. 37 – xGeniSys, 464%

No. 39 – Rebuilt, 441%

No. 44 – Cloud Range, 411%

No. 52 – Archimedes, 360%

No. 62 – Virsys12, 309%

No. 86 – Decode Health, 202%

No. 95 – Ncontracts, 186%

No. 99 – MedSpa Advertising, 183%

No. 154 – S3 Recycling Solutions (Resource Regeneration LLC), 106%

No. 157 – Relatient, 101%

More at NBJ here:

https://www.bizjournals.com/nashville/inno/stories/news/2024/03/07/inc-5000-regional-southeast-tennessee.html

 

[markhollin]

According to Seniorly website, Tennessee is the #3 Best State for Seniors to Retire on a Budget.

More at The Tennessean here:

https://www.tennessean.com/story/news/local/2024/03/08/why-tennessee-ranks-no-3-on-list-of-best-states-to-retire-on-a-budget/72894705007/