Nashville’s commercial real estate market is managing to find its way through uncertain economic times, according to the latest findings of the Colliers Nashville Commercial Real Estate Vitality Index 2022 year-end results.

Professional services and investment management company Colliers’ index shows the commercial real estate sector remained steady during the third quarter of 2022, while the fourth quarter experienced a minor decline of 4 points resulting in a total 5-point decrease for the year. Despite this decrease, the Nashville Index remains at 21 basis points higher in Q4 2022 than in Q4 2020.

According to the index, several indicators contribute to the health of Nashville’s economy, including population growth, investment and the hospitality industry:

• With Nashville experiencing substantial population growth of over 20% in a five-year period, the demand for apartment residency is driving the need for more multifamily assets.

• Core Nashville high-profile and land properties are trading at record-breaking prices, with investment volumes for multifamily topping $6.1billion in 2022.

• The hospitality industry experienced visitor spending of $8.8 billion in 2022, Nashville’s highest visitor spending volume to date, while Music City Center contributed a direct economic impact of $382 million.

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