Hospitality remains a key sector, with the W Hotel and Hyatt brands both making significant progress on their respective projects, along with proposed projects such as the SoBro site, which will reportedly be the fifth–largest hotel in Nashville. Large–scale projects (including the River North project) could very much turn projections around in a market which is still suffering from labor shortages and low unemployment, even with recent surges in migration to the city. Developers are still active, and property and land continue to change hands at pace. Financing remains available with the seventh $100+ million loan of 2019 provided in July. Nashville is also attracting plenty of investment from out of state, with developers from Denver, Texas, and Chicago all being prevalent in the city. Looking to the end of the year, we are still expecting a soft slowdown; however, there are warning signs of a big reduction in construction in 2020, which would take the market back below 2015 levels.