Nashville, TN

Despite a run of impressive gains between 2014 and 2016, Nashville has been on a downward swing and that trend is expected to continue over the coming years.

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.

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