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Market Report

Nashville Industrial Market Report

Second Half 2019

Net Migration is Erupting Industrial Sales Velocity Near Metro’s Major Interstates

Migration into the market promotes continued acceleration in hiring. Nashville’s unemployment rate has remained below the national average rate for nearly a decade. As of August, the metro unemployment rate was 2.7 percent, as the nation’s rate sat at 3.5 percent. The trade, transportation and utilities service sector and the professional and business services sector continue to hire at a strong velocity as more logistics firms move to Nashville. Amazon is building a 1 million-square-foot facility in Nashville Yards and plans to become operational by year end. The company will create nearly 5,000 workers to the metro. Financial firm Alliance Bernstein has also recently added 1,000 jobs to the city, moving its headquarters from Manhattan to Nashville to preserve costs. As jobs continue to expand here, Nashville’s population growth rate has more than doubled the nation’s rate, lifting consumer spending. As a result, retailers and others are expanding their presence here to distribute goods quickly to Nashville residents as well as the region.

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