This newsletter offers insights into current regional economic indicators, industry developments, and housing trends, serving as a valuable resource for local business leaders. It highlights the latest sector-specific advancements that propel local economic activity.
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Unemployment Rate: 2.9%
5,000+ Jobs added
YoY Dec. 2023-Dec. 2024
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| Healthcare & Social Assistance: 4.4%
increase
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| Median Residential Home Price: $500,000
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- Average Weekly Earnings
$1,219.62 December 2024
2.22% increase YOY
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| - New Businesses
337 December 2024 | 9,920 YTD
11.1% decrease YOY
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At Nashville International Airport (BNA), passenger traffic continues to show strong growth, reflecting the region’s booming economy and popularity as both a travel and tourism destination. In recent months, passenger traffic has seen minor fluctuations, with an uptick in the late spring and early summer months typical for many airports due to seasonal changes in travel patterns such as the summer travel season and event-driven traffic. In the month of December, close to 2 million passengers traveled through BNA, with a 5.4% increase in total passengers from December 2023.
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The labor force has increased by 1.3% from December 2023 to December 2024 at 2.9%. At the same time, overall employment has increased by 0.7%.
The continued increase in our labor force shows the increased economic activity happening in our region as people continue to enter the labor force and diversify our industry sectors. This increased labor force participation can reflect the population growth in our area as well as the increased opportunities being created by new businesses and industries seeking to locate and expand in our region.
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Top Growing Industries
(YOY December 2023- December 2024):
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- Healthcare & Social Assistance: 4.4%
- Government: 3.2%
- Wholesale Trade: 2.9%
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The growing and diversified range of industries continues to propel the region forward by providing economic resilience and fostering a culture of innovation. Major sectors such as Healthcare and Trade and Transportation, continue to grow year after year and attract diversified talent to the MSA. Wholesale Trade had the largest industry growth month-to-month November-December 2024 at 1.0% reflecting demand for logistics and distribution services.
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- Building Permits
1,260 December 2024 | 19,904 YTD
Single Family: 871
Multi-Family: 389
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| - Median Home Price
$500,000 December 2024
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For the month of December, building permits combined for both single and multi-family units totaled 1,260. There was a 10.9% increase in total permits year-over-year, increasing from 1,136 to 1,260 in the month of December 2023-2024. This increase may be due to multiple factors, such as affordability within the housing market, increased housing demand, and potential investment in infrastructure within the Nashville region. The median residential home price sits at $500,000 for the month of December and the condominium median price is $341,520.
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Please fill out our data request form, and a member of our research team will assist you.
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| Looking for a job? Visit the Chamber's job board, a free resource promoting open roles in the Nashville area.
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Copyright © 2025 Nashville Area Chamber of Commerce
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500 11th Avenue North, Suite 200 | Nashville, TN 37203 US
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