The Chamber's Year in Review

2022 was a big year for the Nashville region.

As much of the nation continued recovering from the COVID-19 pandemic, this year the Nashville area saw unprecedented economic growth and record-breaking development. Cranes (sometimes called Music City’s "unofficial bird") can be seen throughout the region as investment in the region’s infrastructure, entertainment, hospitality, and other key industries continue to expand opportunities for Middle Tennesseans. Here are some highlights of our region’s performance in 2022:

  • As of August 2022, the unemployment rate for the Nashville MSA is 2.8%, compared with 3.7% national unemployment rate
  • The overall cost of living index for Nashville is 98.7, which is below the national index of 100.0
  • Per-capital income in the Nashville MSA is $57, 953, which is 19% higher than all of Tennessee, and 2.7% higher than the country's average
  • The Nashville area’s population grew to 2.1 million people this year and ranks among the fastest growing in the country
  • Nashville has had the 3rd highest job growth rate in the last year

Cost of living index of major US MSAs

In the US Bureau of Economic Analysis’ most recent GDP report, the Nashville MSA had the second-highest GDP growth of any major metro in the US. Despite the crippling impact of COVID-19 on our region’s hospitality and tourism industry, Nashville has exited the pandemic, in many ways, stronger than ever. With tourism up 10% compared to pre-pandemic figures and investment pouring from local, national, and international actors, all eyes are on Nashville in 2023.

GDP growth of major MSAs from 2021-2022

As we wrap up the year, the Nashville Area Chamber of Commerce thanks you for investing in our region’s long-term prosperity. In our most recent poll to Chamber members, 86% said they would recommend joining or investing in the Chamber to a friend or colleague. Since 1847, the chamber has been the voice of Middle Tennessee’s business community. Throughout the recessions, pandemics, and major catastrophic events that have shaped our communities, business leaders have trusted the Chamber to lead our region to the economic prosperity we’re seeing today. Resilience, creativity, and collaboration are the foundations of our region’s culture, and the Nashville Area Chamber of Commerce is proud to represent the businesses contributing to our region’s success.

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