The Nashville Metropolitan Statistical Area (MSA) is experiencing sustained population growth, closely mirroring its pre-pandemic expansion rate. In 2023, the region welcomed an average of 86 new residents daily, culminating in an annual increase of 31,554 people, per U.S. Census Bureau figures. This growth comprises 20 individuals per day from natural population increases and 66 from new arrivals choosing Nashville as their home.
This trend slightly trails the 2022 pace of 98 people per day, totaling an annual growth of 35,624. Despite a 16% dip in home sales in 2023, the Greater Nashville Realtors report a rebound with sales up by 5% in January and 3% in February 2024.
Jeff Hite, the Nashville Area Chamber of Commerce's chief economic development officer, expressed enthusiasm over the ongoing population surge, attributing it to Nashville's ability to attract, nurture, and retain talent, further enhancing its desirability and quality of life. The city's burgeoning population is crucial for bridging the workforce gap in local industries, with the current job market offering two positions for every unemployed individual, highlighting a substantial demand for workers among the region's 68,000 job vacancies.
Stephanie Coleman, the Chamber's chief talent development officer, echoed this sentiment, celebrating the area's dynamic economy and community spirit that continue to draw newcomers, signaling Nashville's status as a prime location for professional opportunities.
However, this population increase is not without challenges. Mayor Freddie O'Connell is actively tackling the city's pressing transit deficiencies, exacerbated by its rapid growth, with a transit referendum slated for the fall. Moreover, affordable housing emerges as a significant concern among residents, underscored by findings from the Imagine Nashville community survey.
With approximately 73% of the 387 metro areas in the U.S. witnessing population growth in 2023, Nashville's expansion is notable, though it is part of a broader national trend. The Dallas-Fort Worth-Arlington area led with a staggering 152,598 new inhabitants. The 14 counties comprising the Nashville MSA, including Cannon, Cheatham, Davidson, and others, collectively contribute to this vibrant and growing metropolitan hub.
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