It’s no secret the Nashville real estate market is red hot right now, but what’s making middle Tennessee such an attractive option for current home buyers to consider? Well, if you’ve taken a look at recent employment numbers for the area, you’ll likely see that Nashville’s equally hot job market is one of the primary driving forces behind the strong housing, which is also seeing record high growth figures in the early goings of 2016.
An inviting and innovative city that certainly has plenty of residential upside, a study is now showing the Nashville area is also one of the more affordable cities in the U.S. to do business, making it a viable location for commercial development and corporate relocation. In fact, according to the KPMG study, Nashville ranks 3rd in the country among cities with between 750,000 and 2 million people in terms of the most cost-friendly cities for business, with average business costs here roughly 6.2$ lower than the U.S. baseline. And as noted in the study, the baseline cost is defined by the average business costs in the 4 largest metro markets in the country, New York City, L.A., Dallas, and Chicago.
Among the mid-size cities, which include the likes of New Orleans, Baton Rouge, Indianapolis, Austin, and Raleigh, Nashville has the lowest total labor and transportation costs, not to mention the third lowest office costs and fifth lowest cost to acquire industrial land and build industrial projects. And of all the mid-size comps, only New Orleans and Baton Rouge outranked Nashville as having more affordable business costs overall.