Nashville Bits and Pieces

[markhollin]

11 minutes ago, nashmoney said:

Interesting that the TN State Museum is not listed. 

I wondered about that, too.  Maybe because it is free admission?

Would also be curious about the Johnny Cash Museum, Patsy Cline Museum, Madam Tussaud's Wax Museum,  The Ryman Tour; etc. 

[BnaBreaker]

Glad to see The Lane Motor Museum increasing in popularity.  That place is such a (somewhat) hidden gem... quite possibly the world's greatest collection of unique and rare automobiles and hardly anybody seems to know about it.  If you have even a passing interest in automotive history, that place is an absolute must.  No need to be a gear head by any means.

1 hour ago, markhollin said:

I wondered about that, too.  Maybe because it is free admission?

Would also be curious about the Johnny Cash Museum, Patsy Cline Museum, Madam Tussaud's Wax Museum,  The Ryman Tour; etc. 

I still wish Madam Tussaud's would move downtown... I can't imagine they get a great deal of foot traffic at a suburban mall.  I'd be willing to bet that most people visiting just sort of stumbled upon it on a shopping trip and didn't realize it was even there.  

[donNdonelson2]

I really enjoy visiting Lane Motor Museum and often recommend it to folks who visit Nashville.

[GregH]

I went to Lane a couple years ago, it's great. I'm not really a car person so "Motor Museum" doesn't necessarily appear to me, but I loved how oddball the collection is instead of just a bunch of expensive supercars.

[markhollin]

An overview piece on AJ Capital's developments in Nashville (May Hosiery, Nashville Warehouse, Graduate Hotel), as well as their upcoming plans (Belle Meade Plaza, Merritt Village; etc.):

https://www.tennessean.com/story/money/2024/04/03/after-10-years-in-nashville-whats-aj-capital-marks-a-decade-of-nashville-investments-with-next-phase/73171467007/

[KJHburg]

I am coming at the end of the month to Nashville what are the 5 or 6 biggest construction projects I should go by?  No wood frame apartments please unless part of a massive development.  I want to see high rises that are coming out of the ground and so forth.  

[smeagolsfree]

Hey Kevin,

As always if you need anything just give me a call. I need to update the map a little as some of the projects are finishing up that are showing under construction.

These are spread out through town as well.

Nashville Yards of course

Peabody Union

Modera McGavock

The Link @ Vanderbilt

Hillsboro Town Center, Green Hills

1805 Church

Lots of projects are topping out right now, with a number getting ready to start. We are in a lull at the moment with a number of towers that will be starting this year in anticipation of a two-year topping out and catching up of the housing and apartment vacancies.

 

 

 

 

 

[smeagolsfree]

It will be worth a visit to 12 South and WeHo too. It continues to change since the last time we were there.

[PaulChinetti]

2 hours ago, smeagolsfree said:

It will be worth a visit to 12 South and WeHo too. It continues to change since the last time we were there.

Yeah depending on the last time you were here, WeHo and South of Broadway have had a gigantic transformation in the past 3-5 years.

[markhollin]

3 hours ago, KJHburg said:

I am coming at the end of the month to Nashville what are the 5 or 6 biggest construction projects I should go by?  No wood frame apartments please unless part of a massive development.  I want to see high rises that are coming out of the ground and so forth.  

I think you would enjoy the Neuhoff District (conversion of hundred year old slaughterhouse with additional new structures) in Germantown as well.  

[PaulChinetti]

1 hour ago, markhollin said:

I think you would enjoy the Neuhoff District (conversion of hundred year old slaughterhouse with additional new structures) in Germantown as well.  

https://www.instagram.com/p/C5XCo3_xlvl/?igsh=MW5pNTRlM3lhdXg2eQ==
 

Great pictures of Neuhoff from Aerial Southeast 

[KJHburg]

I will check many of those  out thanks and my niece now works on Demonbreun and 40 so I will be in that area for sure near the Gulch and Nashville Yards.  I do want to see how Neuhoff turned out last time I drove by it was a big construction site and Peabody was underway.  

 

[smeagolsfree]

10 hours ago, KJHburg said:

I will check many of those  out thanks and my niece now works on Demonbreun and 40 so I will be in that area for sure near the Gulch and Nashville Yards.  I do want to see how Neuhoff turned out last time I drove by it was a big construction site and Peabody was underway.  

 

Your trip next year should be interesting as the East Bank will be the place to visit.

[smeagolsfree]

Where new residents to TN are coming from. From WKRN.

States people in Tennessee are moving to most | LIST (wkrn.com)

[markhollin]

33 minutes ago, smeagolsfree said:

Where new residents to TN are coming from. From WKRN.

States people in Tennessee are moving to most | LIST (wkrn.com)

Actually, this is a list of where Tennesseans are moving to, instead of where they are coming from. 

[smeagolsfree]

Doh, dyslexia on my part.

[MontanaGuy]

Yesterday a helicopter lowered down on a street about a block away.  It was really loud and I didn't know what was going on at first, lots of people were watching from surrounding buildings.  Then they attached a long cable and started lifting a pretty big load which they dropped onto the roof of the First Horizon Bank.  Then they just kept going back down and picking up more loads and dropping them off on the roof again.  That helicopter doesn't look that big to be picking up heavy payloads like that but it got the job done.  They were at it for quite awhile and took up many loads.  It was a strange and unexpected sight for a Sunday afternoon. 

[colemangaines]

I'm not sure about other processes/systems but helicopters are often an option for HVAC systems. The blowers, chillers, and RTUs are delivered as complete units, and the big ones used for high rises are sometimes above the weight rating for a crane or can't be navigated into tight urban spaces.

Loading up from the street sounds pretty insane though, I wish I could've been there to see it. If I remember correctly, the big chiller unit for 505 was also placed there by helicopter.

[KJHburg]

what in the world?  he needs to hire a designated bodyguard who is NOT drinking to go out with him.  Not a good look.  

Morgan Wallen Arrested For Throwing Chair Off Nashville Rooftop Bar (tmz.com)

[Nathan_in_DC]

10 hours ago, MontanaGuy said:

Yesterday a helicopter lowered down on a street about a block away.  It was really loud and I didn't know what was going on at first, lots of people were watching from surrounding buildings.  Then they attached a long cable and started lifting a pretty big load which they dropped onto the roof of the First Horizon Bank.  Then they just kept going back down and picking up more loads and dropping them off on the roof again.  That helicopter doesn't look that big to be picking up heavy payloads like that but it got the job done.  They were at it for quite awhile and took up many loads.  It was a strange and unexpected sight for a Sunday afternoon. 

The weirdest thing about this is the helicopter they're using. It looks to be an old (very, very old) Sikorsky H-19/S-55. They first went into service in the late 1940s and had been retired by the military by the late 1960s. It's not uncommon for old aircraft to continue on in commercial service, but that's pushing the limits of what you normally see, especially with helicopters.

[KJHburg]

This study examined how long it would take the average person   to save 20% for a downpayment for a median list price home in the area based on the median income. 

Here's How Many Years It Takes to Save for A Home In Your City - 2024 Edition - RealtyHop Blog

Nashville comes ahead of its competitor cities and not in a good way.   # 24 Nashville is a far more expensive place to buy a home due to higher median home price.  Charlotte comes in #53 around competitors like Raleigh #60  Durham Atlanta  #55  etc.    If you think that Nashville has gotten expensive in the last few years you would be correct as this was not the case 10 years ago.  

The top 10 include of course many California cities, NYC and Miami which has a lower median income but relatively high median home prices. 

[smeagolsfree]

I think the biggest difference is the median home price of Nashville is now over 500k. That has really shot up over the last ten years. There is the difference between Nashville and Charlotte now is a 105k in median home price. At least we are still 70K cheaper than Austin, but the real differnce there is the median income. Wages here have increased significantly as well but still need to increase more to keep pace with home prices. 

I do think that the transit plan if passed will have an impact as there will be a number of TOD's built on the lines that will impact the cost of housing. Relatively untouched areas are on Nolensville Road,  Murfreesboro RD., and the far end of Gallatin.

[MLBrumby]

Last I checked the mean income for Nashville is a lot more than Charlotte too... but that may have changed. I think it's around 70k vs 58k. I don't pay too much attention to that but it is an obvious factor in rent/home prices. 

[KJHburg]

Apartment rental rates in Nashville have declined as they have in many southeast markets.   From Yardi Matrix here are some regional comparisons.  Austin has the highest year-over-year decline in the country. 

Columns from Left to Right.  
1. Year over Year Rent growth March '24
2. Forecast at year end of 2024 rent growth
3. year over year job growth last 6 months Dec 2023
4. completions as a percentage of stock March  '24

Charlotte -0.8% 0.1% 3.1% 5.5%

Dallas -1.6% -1.0% 3.7% 2.6%

Orlando -2.0% -1.5% 2.2% 4.2%

Raleigh -2.2% -0.6% 3.7% 5.0%

Portland -2.2% -1.6% 2.1% 3.1%

Nashville -2.4% -0.6% 2.7% 4.8%

Phoenix -2.6% -1.4% 1.9% 3.4%

Atlanta -2.8% -0.9% 2.2% 3.4%

Austin -5.9% -3.5% 2.8% 5.0%

 

As for income comparisons between Charlotte and Nashville the Charlotte area is slightly ahead.   

U.S. Census Bureau QuickFacts: Davidson County, Tennessee

 

 

 

[samsonh]

1 hour ago, KJHburg said:

Apartment rental rates in Nashville have declined as they have in many southeast markets.   From Yardi Matrix here are some regional comparisons.  Austin has the highest year-over-year decline in the country. 

Columns from Left to Right.  
1. Year over Year Rent growth March '24
2. Forecast at year end of 2024 rent growth
3. year over year job growth last 6 months Dec 2023
4. completions as a percentage of stock March  '24

Charlotte -0.8% 0.1% 3.1% 5.5%

Dallas -1.6% -1.0% 3.7% 2.6%

Orlando -2.0% -1.5% 2.2% 4.2%

Raleigh -2.2% -0.6% 3.7% 5.0%

Portland -2.2% -1.6% 2.1% 3.1%

Nashville -2.4% -0.6% 2.7% 4.8%

Phoenix -2.6% -1.4% 1.9% 3.4%

Atlanta -2.8% -0.9% 2.2% 3.4%

Austin -5.9% -3.5% 2.8% 5.0%

 

As for income comparisons between Charlotte and Nashville the Charlotte area is slightly ahead.   

U.S. Census Bureau QuickFacts: Davidson County, Tennessee

 

 

 

This is the real reason for the slowdown in construction. Rent concessions are huge right now, we are oversupplied and will be through at least mid 2025.