Many people racing to set up residence in the Nashville area recognize all of the opportunity and excitement that the city is experiencing currently, but many long-time residents are starting to feel the pressure of rising costs while wages are barely increasing and the madness of the rush hour traffic jams keeps commutes long. While investors are buying land for record high prices, many owners are deciding it’s time to sell house now or sell equity in their home quickly while there’s still a chance to come out on top.
Many owners have decided that they would prefer to sell home quick for cash or to work out a mortgage solution and get out of their older mortgage fast. Others have inherited property and are looking to flip their newfound digs for a financial windfall off the Nashville boom cycle.
One of the major factors propelling this activity is Nashville’s aim to go global and become a world famous city competing with others to be the most desirable, modernized, and friendly city worth traveling to or living in.
In fact, there were over 14.5 million tourists that visited Nashville in 2017 according to the Tennessean. This explains why Hotel developers are desperate to buy up specific plots of land and to build high-rise accommodations and construct them as fast as possible. WKRN reported that there are over 12,000 more rooms in the works to become available sometime this year, which still may not be enough to meet the increasing tourism boom.
To service that increasing tourist industry, Nashville is expanding and the numerous live music venues, museums, art galleries, restaurants, sporting events, transportation services, etc.
Nashville has become involved with vying with other American cities in bids to host the Olympics, coming up with plans on what types of facilities they might need to construct if they did win such a bid and had only 10 years to prepare. Finally, winning a bid to host an Olympiad will certainly be Nashville’s crowning achievement on par with hosting the International Expo over a century ago that saw the creation of the Parthenon in Centennial Park, though it may take a few decades to realize such a feat.
Nashville has even recently obtained a professional soccer team in the United Soccer League, and plans on creating a permanent soccer stadium to house them while they are currently using First Tennessee Park which is home to the Nashville Sounds baseball club. Along with the introduction of this pro soccer club various airlines around the world have opened new routes to Nashville from areas around the world such as London so that fans and sports tourists can travel easier. And to top it all off, Nashville is even seeking to host the World Cup in soccer sometime in the next decade, where the new stadium will become an absolute necessity.
Nashville has even sought to host the NFL draft in 2019 according to ESPN, and it’s Draft ceremonies next year are going to become the new industry standard as they put everything into making it the biggest NFL Draft party ever. Because of the limelight and Nashville’s popular persona under it, the home of Country Music and the Grand Ole Opry has proven to be on par with Las Vegas or other similar tourist oriented American cities.
With TV phenomenon Nashville still going strong with high ratings in its sixth season, and other highly popular shows like The Voice promoting the flair and style of the New Nashville scene, people around the world are being shown the glamor and glitz of could be and might be – if only they’d come and see for themselves. Singers and musicians from around the world are flocking to the city unlike any time before in our history, which is astounding considering that it’s traditionally considered home to many music labels and acts.
The service industry in the city is exploding and it seems like every time an older business shuts it’s doors and becomes history, that two or three new businesses pop up to replace it. High-rises and smaller more modernized shops or mobile services have replaced them. This offers new job opportunities unlike any the city has seen before from every aspect of the service industry.
Even the sun and moon have conspired to help Nashville become one of the world’s hottest tourist spots with last year’s Eclipse and another very rare one upcoming in a few years from now. At the same time we need to consider the expansions going on at the local Universities, which Nashville has many of and they are all growing rapidly at unprecedented rates, bringing in students and families from all around the world to gain quality education, conduct research programs, and thus improve the local economy significantly.
With all of these aspects of the Nashville boom playing into the real estate market explosion, it’s no wonder that so many longtime residents are seeking to sell house fast for cash or to find mortgage solutions and sell equity in home quick. They want to make profits while they still have a chance as Nashville is doing better than it ever has in history with a strong global economy and national policies that are creating an amazing boom cycle.
Olympics, World Cup, NFL Draft,