Fueled predominantly in the residential market, the remaining sectors look to remain flat in 2019, apart from education which is expected to increase 7.8%. While billion-dollar projects are rare, the market has significant projects over the $100 million range, including the I-440 reconstruction project, which started Q1 2019 at a value of $150 million. Additionally, projects such as the new luxury Hilton, which is due to open in 2021, continue to demonstrate Nashville’s ability to attract top-tier development. Construction labor continues to hover around the 40,000 employed mark, with overall unemployment rates ranging between 2.3% and 3%. Over the last few years, we have seen hotels and infrastructure work being a mainstay of the region. Sheet metal workers, plumbers, and welders/pipefitters continue to remain in short supply, although Q1 has seen escalation reduce to approximately 4.5%. New permit requests remain high with new residential leading the pack, quite a ways ahead of the commercial renovation market.