COVID-19 put the U.S. on pause in 2020 as it caused a nationwide shutdown. Which caused a significant decline in the U.S. economy.
Even with a nationwide shutdown, Nashville has shown that consumer spending, jobs, and the housing market are making a comeback.
“Nashville has an economic history of a rapid recovery from any kind of economic downturn,” said Ralph Schulz, President and CEO of the Nashville Area Chamber of Commerce. 1
Researchers at real estate company, Stessa, evaluated employment and housing metrics to create a composite score and ranked metros accordingly to find the metros with the most growth this year. 1
Check out Nashville’s composite score:
#1. Nashville-Davidson–Murfreesboro–Franklin, TN
- Composite score: 78.9
- Percentage change in total employment: 1.1%
- Unemployment rate: 3.9%
- Average monthly building permits per 100,000 residents: 132
- Average monthly home sales per 100,000 residents: 174
- Population: 1,933,860
Composite scores represent small sets of data points that are highly related to one another, both conceptually and statistically. Combining and presenting these items as a single score reduces the potential for information overload.