Nashville Market Insights
In May 2021, Nashville approved Oracle Corporation’s (NYSE:ORCL) $1.2 billion 65-acre office park along the Cumberland River in East Nashville. The second headquarters for software giant Oracle will bring 8,500 new jobs to Nashville by 2031 with an average annual wage of $110,000, nearly double Nashville’s average, along with 11,500 ancillary jobs and 10,000 temporary jobs during construction.
In addition to Oracle, there are plans to perform $1.2 billion of renovations to Nissan Stadium, home of the Tennessee Titans, or build an entirely new stadium along the river right next to Oracle and redevelop 200 surrounding acres into an entertainment district like Wrigleyville in Chicago.
Expected to bring 8.5K new jobs to Nashville
$1.2B renovation will develop a
high-traffic entertainment district downtown
Proposed Renovations to Nissan Stadium in Downtown Nashville, TN (Source: ENR Southeast)
Elevate Realty acquired a substantial portfolio of affordable housing units only four miles away from Oracle’s new office park and Nissan Stadium given the expectation for substantial job formation and economic activity in this part of Nashville over the next decade.
Nashville Key Sub-Markets
MADISON
TENNESSEE
Madison is only 8.2 miles from downtown Nashville. It is one of the fastest appreciating sub-markets of Nashville given its affordability and proximity to downtown. We think this sub-market will also benefit from the economic activity stemming from Oracle’s second headquarters and expected redevelopment around Nissan Stadium.
Madison offers families great schools, parks, shopping and proximity to downtown so we expect continued strong appreciation for many years to come.
HERMITAGE
TENNESSEE
Hermitage is located immediately to the east of Donelson, a Nashville borough named in honor of Andrew Jackson’s father-in-law John Donelson, and just to the west of Mount Juliet in adjacent Wilson County.
Elevate Realty believes Hermitage offers residents tremendous value with more affordable homes and rentals and quick access to downtown Nashville.
DONELSON
TENNESSEE
Donelson is home to hundreds of small and medium sized businesses as well as the National HQ of HarperCollins Christian Publishers, a new branch of Nashville State University, and over 40 hotels that cater to tourists and business travelers using Nashville’s International Airport.
Donelson has shown high demand as a desirable place to live, and is commonly discussed as one of the next Nashville neighborhoods set for explosive growth. A 2016 article on Realtor.com cited Donelson as the 15th most desirable zip code in the United States.
GOODLETTSVILLE
TENNESSEE
Goodlettsville’s population grew approximately +11.7% between 2010 and 2020 given its close proximity to downtown Nashville, strong school system, and close knit community.
Facebook (Meta) is building a $800 million data center in Goodlettsville, TN bringing a significant number of new jobs to this area.