Future Cities

Emerging Industrial Markets: Nashville

April 1, 2024 5 Minute Read

Nashville is a key industrial market because most of the U.S. population is accessible by two-day ground delivery. As a result, strong demand has outpaced record inventory expansion, leading to low vacancy. Positive market fundamentals and pro-business government policies attract investors and developers, which should fuel further investment this year.
Elizabeth GoodwinSenior Managing Director - Nashville


Just over 2.4 million people live within 50 miles of the market’s core, with a projected five-year growth rate of 6.4%. There is a population of 29.1 million within 250 miles, more than Houston, St. Louis and Memphis.

Figure 1: Nashville Population Analysis

Source: CBRE Location Intelligence, 2024.

The local warehouse labor force of 54,204 is expected to grow by 13% by 2034, according to CBRE Labor Analytics. The average wage for a non-supervisory warehouse worker is $17.86 per hour, just above the national average.

Figure 2: Nashville Warehouse & Storage Labor Fundamentals

Source: CBRE Labor Analytics, 2024.

Emerging Industrial Markets

Spotlighting markets across North America that offer demographic, logistics and incentives advantages for industrial investors and occupiers

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