Watch out Nashville! Knoxville is seeing its own share of growth. A recent Nashville Business Journal article cites an analysis by United Van Lines. According to the article, 67% of the moves handled by the company were for households arriving in Knoxville. Only 33% of moves were for households leaving Knoxville. This earned Knoxville the rank of top 6 metro area in the nation by inbound moves, which is slightly above Nashville’s top 9 rating.

As a whole, Tennessee ranked top 7 by in-bound moves, its first time in the top 10 ranking since 2016. Covid-19 may be partly to thank for this trend. Reasons cited for moving include “desire to be closer to family,” “seeking a lifestyle change,” and “the newfound ability to work remotely.” However, the influx of people may also be contributing to the high number of cases in the region.

Unsurprisingly, the cities with the highest outbound moves were located in New York City, Chicago, and New Jersey. Residents in these areas are seeking more affordable options and less crowded conditions.

As demand for housing grows and more people are working from home, residential and multifamily real estate markets are doing well. Despite the negative impacts of the pandemic, a stable local economy and low interest rates make it a great time to buy in other sectors of the real estate industry. Learn more about our residential developments, retail spaces, and office real estate. Contact us today.

Since the 1982 World’s Fair, there has been a push among city leaders to revive Knoxville’s downtown core. Several efforts helped jumpstart this revival, including the development of Market Square, the Knoxville Convention Center, and the expansion of housing options downtown. Finally, it appears the city’s efforts have caught on. Knoxville was named one of the Urban Land Institute’s “boutique markets” in its annual “Emerging Trends in Real Estate” report. Other cities earning the title include Greenville, South Carolina; Richmond, Virginia; Boise, Idaho; Omaha, Nebraska; Portland, Maine; and Des Moines, Iowa.

So, what exactly earned Knoxville this distinction? Knoxville’s ability to weather the COVID-19 pandemic is partly to thank, along with a low cost of living (home prices $80,000 below the national average) and cost of business (10% below the national average). Other lifestyle factors include natural amenities and diversity in leisure and cultural activities.

Several downtown projects also aided Knoxville in the achievement of this title, including the conversion of the former state supreme court building to a boutique hotel. Other projects still in the works for the city include a proposed downtown minor league baseball stadium. These projects take advantage of the “opportunity zone” that covers downtown Knoxville, creating tax advantages for investors.

Established businesses driving the economy in the city include the University of Tennessee’s main campus, the headquarters of Pilot Flying J, Discovery’s HGTV, Regal Entertainment Group, Tennessee Valley Authority, and the Brunswick Boat Group.  

Are you looking to invest in the Knoxville area? Our company specializes in both commercial and residential real estate development, as well as helping companies find space that meets their needs. Contact us today to see how we can help.

In this work-from-home era, coworkers have all but been reduced to a virtual screen. Companies who formerly had large in-person office spaces are challenged with maintaining employee morale and fostering engagement. Company holiday parties – love them or hate them – play an important role in this each year.

According to the Wall Street Journal, only 23% of companies said they were planning a holiday party, down from nearly 76% the previous year.”  Of these 23%, many planned virtual options. These include everything from assigning each employee an avatar to interact in a virtual landscape to sending employees treats and costumes to wear on a virtual Zoom party.

Nevertheless, employee receptiveness to these substitutes has remained low. A surprising 59% reported they were either unsure or would not attend. Many worried the activities would feel like a “chore” or there would be a lack of things to talk about.

Still other employers are attempting to maintain a sense of normalcy with carefully planned in-person gatherings. Some of these include outdoor scavenger hunts, drive-in movie nights, and parking lot parties.

Itching to get back to the office? Let us help your company plan out its office spaces in the post-Covid era. Contact us today.