Overbuilding Looms For Nashville?
Nashville is booming like never before, but when that happens, overbuilding's a distinct possibility. Will it happen here? That question will be taken up by the speakers at our first-ever Nashville State of the Market event on July 19 at the Doubletree by Hilton, Downtown Nashville.
SWH Residential Partners managing partner John Tirrill, who will be a speaker, says Nashville is a growing market, and like most markets that see a lot of activity, there are reasons to be concerned over the next couple of years. The biggest possible sore spot: the supply of new space in certain sectors and submarkets, particularly of Class-A urban apartments.
"On the positive side, financing the construction of apartments has become increasingly difficult in 2016," John notes. "Lease-up concessions in the in-town submarkets in Nashville are widespread, and I expect that trend to continue in 2016 and 2017 as the number of units completed increases." Still, if the banks remain disciplined, the excess supply should be absorbed over the next three to four years, he predicts.
Hear more from John and our other expert speakers at our Nashville State of the Market event beginning at 7:30am on July 19 at the Doubletree by Hilton, Downtown Nashville. Schmoozing and breakfast, no extra charge. Sign up here.
