Nashville’s growing job market is generating extreme demand for all types of residential housing, including particularly residential condos.
According to Nashville’s Downtown Partnership, there was a 12.5% increase in overall available downtown residential units from just one year ago as a result of notable constriction completions such as the rental tower at 5th and Broadway.1
As of 2020, condominiums make up 25% of Nashville’s downtown housing (apartments making up the balance).1
Over the past six years, there have been only 6 condominium projects adding 535 units to the approximate total existing supply of 2,360 condo units today.1
Costar reports 9 condominium projects that have been delivered within the last year creating 293 new condo units delivered in 2020-2021.2
Taylor Germantown, 19th and Wedgewood, The Townhomes at Treaty Oaks, Linden Row, and The Jenkins are few of the properties delivered. Most of these properties are located in Germantown, Belmont/Hillsboro, and Edgehill.
Out of these 293 condo units, CA South has chipped in 127, making up 23% of condos delivered in 2020-2021. Alina and Illume, two new condo projects by CA south are both located in one of Nashville’s most popular neighborhood, Edgehill (Wedgewood Houston adjacent).
Currently, the Four-Season Residences, 83 Freight, Broadwest, and Thrive at City Heights are under construction and planned to be delivered within the next 18 months. Combined, these properties add another ~500 condo units by 2022.1
There are also several projects delivering soon including CA South’s Eve, located right off the Cumberland River. Eve, Alto, The 900, and 829-839 Dickerson Pike will add a total of 208 units to the condo market upon their delivery.
At this rate, Nashville developers will bring somewhere between 775 and 1,000 new units to the market by 2023. While this might sound like a lot, demand is growing faster.