Skip to main content

Scroll Down

Market Report

Nashville Multifamily Market

2Q 2022

Labor Market Gains Set Stage for
Upgraded Outlook Across Housing Tiers

Recovery of entertainment jobs to aid lower-tier demand. A resurgence in the city's tourism, hospitality and entertainment sectors has fostered healthy demand for Class B/C units, even as these industries still have ground to make up from the COVID-19 shock. The metro's leisure and hospitality employment count lagged the pre-pandemic measure by 6,000 roles entering this year; however, the recovery of more than 20,800 of these jobs in 2021 helped Class C vacancy drop from 5.0 percent to just 1.5 percent last year. Hiring in the sector should escalate as large events and festivals return in full force, providing tailwinds for Class B/C property performance throughout 2022.

Related Research

Back to top