Nashville Region Monthly Indicators

Indicators Highlight July 2017: The housing market in Nashville has grown increasingly tight over the past year, which is leading to a rise in median home and condo sales prices.  This July, there were 3,248 residential closings, up from 3,146 in July 2016.  This increase in closings has been coupled with a decline in residential inventory of 345 homes, leaving the housing market tighter than it was a year ago.  The median home sales prices for July 2017 was $288,243 compared with $267,000 in July 2016.


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Workforce July 2017 July 2016 % Change YTD 2017 YTD 2016 % Change
Resident Labor Force (by place of residence) Nashville MSA 1,008,030 986,170 2.2 997,367 963,623 3.5
Tennessee 3,195,900 3,184,900 0.3 3,172,471 3,134,457 1.2
United States 161,337,000 160,705,000 0.4 160,015,714 159,172,429 0.5
NonAg Employment (by place of employment) Nashville MSA 974,690 935,100 4.2 964,073 931,529 3.5
Tennessee 3,062,100 2,992,200 2.3 3,034,000 2,985,714 1.6
United States 154,086,000 151,517,000 1.7 152,650,857 151,174,429 1.0
Manufacturing Emp Nashville MSA 84,000 83,900 -0.6 83,800 82,514 1.6
Trade, Trans, Util Emp Nashville MSA 183,800 176,900 3.6 183,129 176,771 3.6
Information Emp Nashville MSA 24,000 21,600 7.4 23,486 21,486 9.3
Financial Activities Emp Nashville MSA 64,700 60,700 5.9 63,914 60,586 5.5
Prof/ Bus Svcs Emp Nashville MSA 162,600 152,900 6.5 160,171 151,800 5.5
Educ/ Health Svcs Emp Nashville MSA 147,500 143,900 2.6 148,786 145,257 2.4
Leisure/ Hosplty Emp Nashville MSA 113,900 105,400 8.9 109,186 99,486 9.8
Government Emp Nashville MSA 110,600 106,400 2.9 117,071 113,714 3.0
Unemployment July 2017 July 2016 % Change YTD 2017 YTD 2016 % Change
Unemployed Persons (by place of residence) Davidson Co 12,090 14,070 -14.1 12,239 12,521 -2.3
Nashville MSA 33,340 38,060 -12.4 33,296 33,610 -0.9
Unemployment Rate (% by place of residence) Davidson Co 3.1 4.1 -24.4 3.2 3.4 -7.1
Nashville MSA 3.3 3.9 -15.4 3.3 3.5 -4.1
Tennessee 4.2 4.9 -14.3 4.4 4.6 -5.9
U.S. 4.5 5.1 -11.8 4.6 4.9 -6.1
Revenue and Finance July 2017 July 2016 % Change YTD 2017 YTD 2016 % Change
7.0% Sales Tax Collection Davidson Co $105,298,651 $ 106,257,611 -0.9 $729,125,712 $694,042,910 5.1
Nashville MSA $216,630,484 $ 214,927,181 0.8 $1,480,838,852 $1,412,849,452 4.8
Consumer Price Index US(1982-84=100) 244.786 240.647 1.7 244.177 238.944 2.2
US (1967=100) 733.269 720.871 1.7 731.447 716.084 2.1
South(1982-84=100) 236.942 233.287 1.6 236.498 231.728 2.1
Housing July 2017 July 2016 % Change YTD 2017 YTD 2016 % Change
Residential Closings 3,248 3,146 3.2 19,223 18,390 4.5
Residential Inventory 6,177 6,522 -5.3 5,622 6,059 -7.2
Median Residential Price ($) $288,243 $267,000 8.0 $275,727 $251,245 9.7
Condominium Closings 439 388 13.1 2,669 2,457 8.6
Condominium Inventory 513 798 -11.1 499 770 -35.2
Median Condo Price ($) $203,000 $189,986 6.8 $197,036 $185,733 6.1

Sources: TN Dept of Labor and Workforce Development, US Dept of Commerce, TN Dept of Revenue, Greater Nashville Association of Realtors

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