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Nashville BOOM Setting Multiple Records

Last quarter Nashville metro approved on average, $16 million per day of new commercial and residential construction keeping the Nashville BOOM moving.

Nashville ranks #46 out of 100 cities in terms of affordability when it comes to owning a home in the United States.

In July the average price was $300,000 for a Nashville home with an estimated monthly mortgage and taxes of $1,433.67. Nashville’s median family household income is $52,858.

Nashville BOOM Setting Multiple RecordsNew research from Parks Associates explores the opportunity for home builders and MDUs as channels for smart home solutions, as 25% of US broadband households perceive a “move-in-ready house” would include smart home devices. My Next Home: Demand for Smart Homes and Smart Apartments¬†reports that despite device ownership flattening in 2018, purchase intentions for smart home devices continue to increase, with 43% of US broadband households planning to purchase at least one device in 2019.

Research indicates that companies offering smart home devices in the builder channel have the advantage of creating model homes specifically designed to demonstrate potential use cases and benefits of smart home devices, which can drive interest.

Among MDU channels, properties often roll out devices across many units, exposing a large number of consumers to these products.

“Low consumer awareness and low perceived product value remain significant problems for the smart home industry,” Patrice Samuels, Senior Analyst at Parks Associates said. “Insufficient information about smart home products often lead to purchase avoidance. These channels help introduce many new consumers to smart home products.”

Smart home designers and providers in the Nashville area is a substantial vertical with rapid expansion because of the Nashville BOOM.

One area the Nashville BOOM is falling short is the traffic and infrastructure of roads, bridges, under passes, railway stoppage and a host of old and out dated systems.

Best & Worst Commuting Drives in Nashville:

Shortest Commutes

  1. 37212 – Nashville, TN: 15.1 minutes
  2. 38237 – Martin, TN: 16.7 minutes
  3. 37204 – Nashville, TN: 16.8 minutes
  4. 38120 – Memphis, TN: 17.2 minutes
  5. 38242 – Paris, TN: 17.3 minutes
  6. 37412 – Chattanooga, TN: 17.3 minutes
  7. 38305 – Jackson, TN: 17.4 minutes
  8. 37601 – Johnson City, TN: 17.4 minutes
  9. 37405 – Chattanooga, TN: 17.5 minutes
  10. 37311 – Cleveland, TN: 17.7 minutes

Longest Commutes

  1. 38023 -Drummonds, TN: 40.1 minutes
  2. 37060 – Eagleville, TN: 36.6 minutes
  3. 37397 – Whitwell, TN: 36.0 minutes
  4. 38011 – Brighton, TN: 35.4 minutes
  5. 37062 – Fairview, TN: 35.3 minutes
  6. 38015 – Burlison, TN: 35.3 minutes
  7. 38562 – Gainesboro, TN: 34.7 minutes
  8. 37640 – Butler, TN: 34.2 minutes
  9. 38472 – Lynnville, TN: 33.5 minutes
  10. 37722 – Cosby, TN: 33.4 minutes

The average travel time to work in the state of Tennessee is 25.1 minutes, but it varies greatly by location.

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