Nashville As An Economic Powerhouse

When you think of Nashville you'll automatically associate the city with the Gran' Ole Opry and just country music in general, and you wouldn't be wrong in doing that.

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Nashville As An Economic Powerhouse

Posted by Gary Ashton: RE/MAX ADMIN on Saturday, February 2nd, 2013 at 8:44am.

When you think of Nashville you'll automatically associate the city with the Gran' Ole Opry and just country music in general, and you wouldn't be wrong in doing that. What you may not realize however is that although music is a key part of the economy of the entire city the largest industry in Nashville is actually healthcare. To give you an idea of the scale of the two main economies in the city the music industry as a whole is responsible for 19,000 jobs in Nashville and has a positive effect on the local economy to the tune of over US$6 billion each year. The health industry in the city is responsible for over 94,000 jobs and total financial contributions of over US$18 billion each year.

The reason for this is that Nashville is home to over 250 individual health care companies, including the single largest international operator of private hospitals. In addition to the traditional music economy of the city and its booming health care industries Nashville is also enjoying resurgence in the motor industry and you'll also find a strong presence for insurance, finance and publishing companies too. In terms of Fortune 500 companies operating in Nashville you can add Dell, HCA and Dollar General to the list above, just to really round things out.

In terms of the standard of education Nashville is also both a great place to live and a great place to open a business, based on the fact that there are over 25 private and public colleges and universities in the city. This gives you access to a great standard of education and also provides a highly skilled and educated workforce for potential employers.

What's even more attractive to a prospective employee and Nashville citizen is the diverse nature of the city's economy. Any city or region, which relies too heavily on one single industry, will usually suffer quite badly during any economic downturn. But that isn't the case with living and working in Nashville because you can look for employment in anything from IT to healthcare, or even music and can rely on the fact that the economy in Nashville looks set to remain healthy for a long time to come.

 

Gary Ashton

The Ashton Real Estate Group of RE/MAX Advantage

The #1 Real Estate Team in Tennessee and #4 RE/MAX team in the world!

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