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Tenants and buyers feel that market rates on both for sale and for lease properties should decrease to account for the perceived risks due to the Coronavirus.
However, landlords and sellers entered into the summer in strong positions, keeping them in relatively good standing and without the need to slash pricing to fill vacancies.
Here’s the East Nashville Market Update for September, 2020.
Dickerson Pike is one of Nashville’s hottest corridors. The proximity to downtown Nashville, skyline views, and largely untapped potential make this pike a developer’s dream. Here are the real estate developments you should keep an eye on along the Dickerson Pike corridor.
There’s always a place where you will find historic, thriving, electric, and hip – and that is East Nashville, which has become one of Nashville’s most desired areas to play and live. East Nashville is the largest of Nashville’s urban communities, which is made up of various neighborhoods that span 3 different zip codes.
This corridor used to be Nashville’s major thoroughfare in and out of downtown prior to the construction of I-65. After the arrival of the interstate, the once booming district fell into despair, but with Nashville’s massive economic upswing in the last 10 years, it’s caught the eyes of investors, developers, residents, and business owners.
It is no secret that Dickerson Pike is looking forward to significant development in an unprecedented way. Dickerson properties that were sold for next to nothing a decade ago are now selling for nearly a million dollars an acre or even higher in some cases as more and more developers seek affordable land within the Nashville urban core. As money continues to be invested into Dickerson Pike, the city is doing well to plan ahead to make sure that gentrification does not negatively impact the current residents of the surrounding neighborhood.
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