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According to the Bureau of Labor Statistics, job growth in Nashville-Davidson-Murfreesboro-Franklin, TN metro area was 3.0% in
August 2017, reflecting 28,700 jobs added during a 12-month period. The metro job growth figure was above the national number
of 1.5%. An August 2017 research study conducted by Avalanche Consulting reported that Nashville led the nation in employment growth from 2015 to 2016, showing the growth rate of employed residents increasing by 4% in that time frame. The MSA had the
strongest gain in the U.S., followed by Grand Rapids, Minnesota and Tucson, Arizona. The report credits the region’s strong economy.
Apartment demand has remained robust, as Nashville’s growth in employment and population have aided in the absorption of 3,800
units to 5,700 units annually. The market absorbed 7,657 units in the year ending 3Q 2017. Axiometrics forecasts Nashville’s 2018
job growth to be 2.1%, equivalent to 20,748 added jobs.
Annual Employment Growth MF Supply and Inventory Growth
3 Nashville Research & Forecast Report | 3Q 2017 | Multifamily | Colliers International
IDENTIFIED SUPPLY
SUBMARKET DELIVERY SCHEDULEPIPELINE DELIVERY SCHEDULE PIPELINE LEASE UP TREND
Units Absorbed Asking Rent Effective Rent
Top Submarkets 2015 2016 2017 Total Totals PPM Per Unit PSF Per Unit PSF
The information contained herein has been obtained from sources deemed reliable. While every reasonable effort has been made to ensure its accuracy, we cannot guarantee it. No responsibility is assumed for any inaccuracies. Readers are encouraged to consult their professional advisors prior to acting on any of the material contained in this report.
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