Nashville, TN, is the current poster-child of a successful, vibrant, and beautiful city. Fueled by population and job growth, construction across Nashville is booming. Cranes litter the horizon as a testament to its popularity. We love Nashville so much that we recently opened an office there. Personally, I look forward to the excitement and challenges of venturing into a new market filled with interesting people and opportunity.
While construction is booming in Nashville and demand for commercial real estate has reached a fever pitch, we constantly remind ourselves that “excess profits breed ruinous competition” and that economic profit is temporary as supply and demand seek equilibrium. This doesn’t diminish our fondness for Nashville but it does keep our optimism in check. We still remember the days of the Resolution Trust Corporation and the more recent folly of 2008.
As commercial appraisers, we are ever mindful of the importance of providing a realistic and balanced perspective. We see the roses. But we’ve also been pricked by the thorns.
Oh, I almost forgot. What don’t we love?
What are some of the things you love (or don’t) about Nashville? Weigh in with your comment below.