Urban Land Institute’s annual “Emerging Trends in Real Estate Report” highlights Nashville as the top market to watch for the upcoming years in real estate. 1
Proponents of secondary and tertiary markets argue that workers, freed from having to report to the office, migrated to cities like Nashville that typically offer more housing for less money, have less traffic and see less crime, as well as higher quality schools than a major metropolis like Chicago, Los Angeles or New York. 1
So, although the long-term effects of the pandemic are unknown – one thing that is for certain is change. Everyone is working towards the “new normal” which encompasses how people conduct their everyday lives. A renewed emphasis on work/life balance and the importance of convenience and productivity in how people manage time will require physical changes to properties to better align with how they will be used. Thus, leading to a larger impact to real estate development.