Nashville, TN is famous for a lot of different things. Music is easily the number one aspect to the city people think of when the word “Nashville” is mentioned. Soon, the words “real estate boom” and Nashville are going to go hand-in-hand. At the present time, Nashville is home to a host of profitable real estate development projects.
What is fueling all of this? Property values are increasing and doing so to “historic levels”. The increase is not a respectable 2% or 3%. The word “historic” is not used flippantly. The increases in value are in the range of 35%. That is an astronomical and stunning figure. No wonder so many developers are getting into the Nashville real estate market.
Entrepreneurs such as Scott Lumley are looking closely at the current Nashville real estate boom. Lumley is a principle member at Resolve Financials, a real estate business in the Greater Nashville area. Lumley is involved in many business ventures including the revamped American Basketball Association. Interestingly, the boom in real estate could lead to various other businesses in the local area doing well financially. An ABA team has a greater chance of success in an economically thriving region than one that is struggling.
Increases in real estate do more than help developers. Property owners discover their net worth goes up. As personal equity increases, so does the ripple effect of economic activity.
Scott Lumley knows this quite well. He has achieved success as a rodeo star and in numerous entrepreneurial ventures. His success in various endeavors shows he knows what can happen when the right economic factors are in place. Surely, the current Nashville real estate boom – one of the biggest in years – is stirring a lot of economic positives.
The development of commercial and residential real estate is on full-swing in many sections of the city. As long as there is a demand for new property, the real estate market is going to do well. Based on current indicators, the direction of Nashville real estate seems to go on the continual ascent. Things could change in the future, but the present looks extremely beneficial for the real estate developer and investor.