Nashville has added nearly 53,000 new market rate apartment units since 2020, a 33% inventory growth rate, and August occupancy reached 94.7% even as effective asking rents declined 1.5% year over year, according to RealPage data cited by Multifamily Executive on October 16. Deliveries over the past year fell to 6,100 units, the lowest since 2021, with about 11,500 units under construction.
Why it matters to multifamily marketers
Nashville marketers could ease back on deep concessions as absorption improves and tilt ad spend toward Class B properties, which are outperforming Class A and Class C in the metro.