Nashville’s population growth slowing in recent years
Nashville’s population has been showing signs of slowing in recent years, even though it may not seem like it is.
Tourism is still higher than ever in the big city, but what some may not notice is that the population increase is actually starting to slow.
From July of 2017 to July of 2018, Nashville’s population grew on an average of 83 people per day. While this may seem like a whole lot, it’s lower than it has been in the past few years. Previous census’ have shown that the city’s growth was over 100 people per day.
Though it isn’t a horrible decrease in the number, it still means that there’s less people who want to live in the city.
It hasn’t made an impact amongst the city though. Nashville’s tourism is at an all-time high and the city has a record-low employment rate. These are both great factors for a city as big as Nashville to have.
In fact, no negative impacts have been shown at all despite the drop in population growth over the past few years. The city itself continues to grow and evolve the same way it always has.
What this means for Nashville
At the moment, Nashville is still in a good spot. As the city still continues to grow, though it may be at a slower rate, it’s still one of the fastest growing metros in all of America.
The slow down doesn’t mean that people want to move to Nashville any less. It may even be beneficial for the city rather than have a negative impact.
“People are still finding it attractive to move here, but maybe it’s a more measured number,” says Janet Miller, the Nashville CEO of Colliers International, “I think it’s not a bad thing to have a little bit of a breather.”
The high number of people moving to Nashville also means the city having to accommodate for the large number of people coming in. This is one of a few reasons why it’s beneficial to have this slow down.
The benefits of the slowing growth
The real estate in Nashville is at an extreme high right now. Prices of housing are so expensive that many can’t afford to even pay rent or pay the mortgage on their house. Less people moving to the city means a decrease in this pricing.
Another benefit would be the heavy traffic being reduced. At the moment, traffic is crazy in the city and it’s hard to find a time when the streets aren’t filled with cars. The decrease in population means that this traffic will eventually slow over time.
If you’re worried about the decrease in population growth, don’t stress about it. Max Baker, the Director of research and analytics at the Greater Nashville Regional Council says that most people probably won’t even notice a decrease in the growth.
The city of Nashville is still constantly growing. The drop in population growth isn’t anything to worry about, at least not at the moment.