Nashville skyline

Nashville Market


Nashville’s population is affluent and growing fast

With a diverse economy, central location and a personality all its own, Nashville continues to grow and prosper as one of America’s great cities.

Known as Music City, Nashville makes headlines as the capital of country music, but is also the headquarters of Hospital Corporation of America (HCA), the largest for-profit hospital company, and Nissan North America, among others.

In fact, 33 relocations and 69 expansions brought more than 7,300 jobs to the area between July 1, 2008 and June 30, 2009. And due to the diverse local economy, the Nashville area only experienced a 3.8% decrease in jobs in 2009.

Middle Tennessee continues to grow, with households projected to grow 20% from 2009 to 2014. Wealthier households, those with $75,000 or more in annual income, are expected to grow 25% by 2014. And the area consistently ranks as one of the major cities with the cost of living below the national average.

Sources: Nashville Area Chamber of Commerce, Research Division, 2009; Claritas 2009

The Nashville CBSA

Total population: 1,311,789
Total Households: 510,222
Median Household Income: $51,611
 

dynamic activity has generated accolades

  • Ranked #5 in Economic Strength by POLICOM (May 2009)
  • Top 10 best metro areas in the U.S. for businesses (MarketWatch.com, January 2009)
  • Top 20 best cities for young professionals (Forbes.com, September 2008)
  • Top cities for 20-40 year olds (Next Generation Consulting, June 2009)
  • Fifth most affordable cities for home ownership. (Forbes, September 2008)
  • Top in economic performance – Nashville is ranked #22 out of 200 large U.S. metro areas (Milken Institute/Greenstreet Real Estate Parnters, September 2008)
  • Best places to retire – ranked 5th with U.S. News & World Report and 4th by Black Enterprise magazine. (U.S. News & World Report, January 2009; Black Enterprise, October 2008)

The Nashville CBSA
Map of the Counties Please select any county from the menu on the left for more information.

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Strong growth has attracted new retail space

Retail sales are projected to grow +28% from 2008 to 2013.

Nashville West opened in the spring of 2007, featuring 20 stores in 700,000 sq. ft. including Costco, Best Buy, Target, Dick’s Sporting Goods and more. (37209)

The Hill Center, just south of the Mall at Green Hills, opened stores in the fall of 2007 including Whole Foods, West Elm and Anthropologie. (37215)

Developers are planning to revitalize the Bellevue Mall, converting a traditional closed structure into an open-air shopping center, while retaining some anchor tenants. (37221)

The Mall at Green Hills completed an addition and renovation in 2006, adding Tiffany and Louis Vuitton among other higher-end retailers. Nordstrom will build a store at the mall to open in 2010. (37215)

Stores at The Avenue began opening in the summer 2007. This development in Rutherford County will eventually feature 110 stores in 810,000 sq. ft. (37129)

Providence Marketplace in Mount Juliet opened in spring 2007 including a re-located JCPenney, Belk, Target and the first of multiple new Dick’s Sporting Goods. (37122)

Indian Lake Village in Hendersonville opened phase I in March 2008. This development will eventually include 1.5 million sq. ft. of retail space, 2 million sq. ft. of office space and 1,000 residential units including apartments, lofts, town homes and single family homes (37075)

Cool Springs Galleria in Franklin will add 200,000 square feet, including of open-air space for restaurants and retail to open in 2011.

Glenbrook Shopping Center, a 190 acre open air center in Hendersonville, continues to grow. Steinmart, World Market, Shoe Carnival and other anchors are to come, plus small shop space is still available.
Retail Location Map