With the real estate market getting turned up on its head, and every other which way, during the pandemic a few trends emerged. The first being that more people began working from home and therefore became more focused on their living space and getting the most out of it they could. This lead to trend number two, more people moving further out of urban settings to find what they're looking for.
The third and final trend that has taken shape this past year is that physical retail continues to take a hard hit. However, for residential real estate purposes, this last trend may actually turn out to be a silver lining. If retail vacancy continues to grow, a void will have to be filled, and some are suggesting that rezoning places like shopping centers to multi-use you may end up seeing more spaces that are currently commercial become residential. This would simultaneously create a large influx into the heavily depleted inventory of places like Nashville, while also adding a variety on inventory to the market. Although this has not yet fully taken sight, it stands to reason that this could end up playing a significant role in solving the inventory crisis in Nashville! If you would like to speak more about this or any other real estate topics, I'd love to hear from you!
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