" Don't Stop Believin''"

🎶🎵🎶🎶🎶

A tale of two cities - "It was the best of times, It was the worst of times..." - Dickens Just kidding...kind of! (JKKO) Not unlike the economy, the Nashville real estate market could easily be described as dichotomous right now.

We hear from our commercial real estate partners, retail and food & beverage are crushing it with leases being executed in a continued low-inventory environment, expanding the city's purveyor and culinary offerings, casting a shadow to our historical reputation as rhinestone cowboys eating hot chicken! More on that in the "local" section below. I'm excited for Philippe Chow this Fall and to see Hermès and Brunello Cucinelli! We're growing up so quickly. 🕴🥂

Unfortunately, residential real estate sales have not kept in step with their commercial counterparts. Inventory continues to build with over four months of inventory (4.83 months of supply for Davidson County & 4.13 months for Williamson County). This means it would take 4.83/4.13 months to sell all the existing homes on the market at their current sales price, if no new listings were added. For perspective, in July of 2021 when interest rates were high 2%'s and the WFH craze was bringing everyone to Music City, Davidson County was around 1.4 months of supply/ 1.1 for Williamson County. But we know real estate sales happen in every market - 770 closed deals last month in Davidson County, up 10% from July of last year and 421 in Williamson County which was flat vs prior year at this time.

I smell opportunity! Seriously. I'm a discerning buyer, making smart, realistic offers (don't overestimate your power) and I'm an educated seller hitting today's market bid out of the gates (it's not 2021, let's be realistic). Both sides are going to take a bit longer than we got used to in recent history, but that's okay. Time allows everyone to make concerted decisions.

The city is still on fire 🔥. New hotels including the Pendry, St. Regis, Edition and Ritz, restaurants like Pastis, Craigs, and Alla Vita, and most importantly jobs evidenced by Amazon finally starting to build out their second tower and of course, the much-anticipated Oracle world headquarters on the East Bank. Technology has quickly become a top industry for the city along with healthcare and entertainment. I trust we'll play host to many more conferences in the near future. Elon Musk and Ai company Tricentis are taking notice with a proposed transportation tunnel from the airport to downtown courtesy of the Boring Company, and Tim Tebow keynoting the Tricentis Transform AI conference in October! Don't you think getting on the property ladder now sounds like a good idea? 🎤💧😉

Hope you are all closing out summer with a bang! Plenty of pool time left. Heading to the lake this weekend ourselves!

❤️

Cheers,

Shane

July was our season of LOVE 💕

* Celebrated 50 years of marriage for our besties parents!

** Overjoyed newlywed bliss (BEYOND beautiful everything!)

*** Horsing around with an old friend always fills my heart!

Development Spotlight

FOCUS DESIGN BUILD

The MONROE

Twenty-nine homes will sit on the centrally located, gently rolling topography formerly home to Monroe Harding, the 128+ year old orphanage turned Children’s House in Green Hills. I recently spent an afternoon with Lindsay Argo of Focus Builders – a custom and spec home developer in Nashville she and husband, Seth established 10+ years ago – who, along with Barlow Builders and Hidden Valley Homes have been tasked to masterfully repurpose twenty-two serene acres into a community worthy of its namesake. Sitting in a kitchen of distinction, with warm Southern hospitality, Argo is deliberate as she explains their process from ideation through execution.  When creating an everlasting contribution to our burgeoning Nashville community she and Seth apply their cooperative experience, education, and personal life experiences toward each project.

Full article & more information here.  

If you, or anyone you know may be interested, please send them my way for more information.

Please contact me for more information.

Listed by our friends, Lindsay Argo

The Focus Group of TN, LLC.

Local Events

ALL MONTH LONG

Nashville SC

- Austin Villa

- Orlando

- Atlanta

GEODIS PARK

ALL MONTH LONG

Nashville Sounds

- Sounds vs. Jacksonville

- Sounds vs. Durham

- Sounds vs. Louisville

- Sounds vs. Charlotte

First Horizon Park

August 5th | 7:30pm

Rob Thomas

The All night Days Tour

Ascend Amphitheater

August 7-10th

Tomato Art Fest

Five Points East Nashville

August 7th | 7:30pm

Jason Aldean

Full Throttle Tour

Bridgestone Arena

August 12th | 7pm

The Weekend

After Hours til Dawn Tour

Nissan Stadium

August 12th | 7pm

The Fray

Ryman Amphitheater

August 14th | 7:30pm

Rod Stewart

One Last Time

Ascend Amphitheater

August 14th | 7:30pm

Chris Isaak

(My hometown boy - Stockton REPRESENT!)

Ryman Auditorium

August 15th | 6:45pm

TOTO + Christopher Cross + Men at Work

Ascend Amphitheater

August 15-17th

PBR Nashville

Stampede Days

Bridgestone Arena

August 21st | 7:30pm

Linkin Park

From Zero World Tour 2025

Bridgestone Arena

August 22nd | 7pm

TITANS vs Minnesota Vikings

Pre-Season Game

Nissan Stadium

August 26th | 8pm

311

The Unity Tour 2025

The Pinnacle, Nashville TN

August 31st | 7:30pm

Louis C.K. | Ridiculous

Ryman Auditorium

Notable in Nashville

In case you missed it

LOCAL: 

* In-n-Out Burger President Lynsi Snyder-Ellingson recently revealed she plans to follow the company’s move to Franklin. The popular fast-food restaurant in 2023 announced plans to invest $125.5 million to open an office in Franklin, later dubbed its eastern headquarters. In-N-Out received a $2.75 million jobs grant from the state and an additional $1.89 million of combined property tax breaks from the city of Franklin and Williamson County. [NBJ]

* Pinnacle Financial Partners and Synovus Financial Corp. announce $8.6 billion merger. [NBJ]

* Elon Musk’s The Boring Co. has drilled past opposition, clearing the first hurdle to begin work on its Nashville tunnel project. Boring Co.’s lease of a downtown state-owned lot was approved by the State Building Commission on Thursday, allowing the firm to launch work on a tunnel that could connect downtown with Nashville International Airport. [NBJ]

* A California tech company is moving its headquarters to Music City. IT company Arctiq announced July 23rd it is relocating to Brentwood, according to a news release. The company, previously based in Irvine, California, has offices across the U.S. and Canada. “Nashville’s central location, vibrant business climate, and deep talent pool make it the ideal hub for our next phase of growth,” said Paul Kerr, CEO of Arctiq. “This move enhances our ability to serve clients across North America and reinforces our mission to deliver transformative, intelligent IT solutions.” [NBJ]

* Texas-based Tricentis, a global AI-augmented software company, will be hosting its first industry conferences this year in London and Nashville, according to a press release. The Nashville event will be hosted at Pinnacle Nashville Yards Oct. 21-22. Tim Tebow will keynote. [NBJ]

* Amazon landed over $13 million worth of permits to start work on its second Nashville tower. Two permits were issued this week related to the interior build-out of the second Amazon tower in Nashville Yards, which has sat empty for nearly three years, according to Metro records. One of the permits, valued at just over $9.2 million, is related to the build-out of the office levels on floors eight through 13. The scope of work for the other permit, which is valued at over $4 million, includes demolition and interior build-out of two of the parking garage levels, as well as floors one, five, six and seven, according to Metro records. In July 2022, the tech giant paused construction on much of the tower to reevaluate the design and layout of its space. Amazon announced in May that it would start interior work on the tower, located at 201 Platform Way N., and that the company would be leasing an entire floor of the CAA Office Building in Nashville Yards. [NBJ]

* The closely watched sale of the East Bank scrapyard was delayed again, and a new timeline has been revealed. The sale of Carl Icahn’s 45-acre scrapyard property is expected to close by Sept. 30. [NBJ]

* An Indiana-based aviation company is expanding its Nashville footprint with a new private terminal. Jet Access, which puts every sector of the industry under one roof, has broken ground on a luxury, 25,500-square-foot terminal at John C. Tune Airport (JWN). The project is expected to open in May or June of 2026. [NBJ]

* Equinox, the luxury gym expects to open its first Nashville location in 2026. It will occupy 37,000 square feet in Paseo South Gulch. [NBJ]

* The Pendry Nashville, a 30-story luxury hotel and condo tower, breaks ground in the Gulch. SomeraRoad secured a $253 million construction loan for the project. The development, slated to open in 2027, will feature 180 hotel rooms and 146 condos. [NBJ]

* A Sports Illustrated-branded property is being eyed for Midtown. Sport Illustrated Resorts will open a new location at 1600 McGavock St. in the building that previously housed the Placemakr hotel, according to a release from Travel & Leisure Co. The new Sports Illustrated Resort will operate as a timeshare property, offering studio, one-bedroom and two-bedroom suites. Amenities will include a pool, dining venue, exclusive lounge for owners and a fitness center. The location, which is the first in Nashville, is set to open in spring 2026. “Nashville is a city where the thrill of game day and the energy of live entertainment go hand in hand,” Geoff Richards, chief operating officer at Travel + Leisure Co, said in a release. “With this new resort, sports enthusiasts can enjoy that same excitement at a resort built specifically for them, offering a place where game-day culture meets iconic sports storytelling." [NBJ]

* Underscoring Wedgewood Houston’s growth as a creative hub, talent agency WME has signed an 83,000 sqft lease in the neighborhood for their new headquarters [ NBJ]

* Party Fowl is officially in growth mode following its December acquisition. The Nashville hot chicken restaurant will open at 1016 Woodland St., according to a building sign permit. The East Nashville location will neighbor Five Points Pizza and sit across from Music City staple Margot Café & Bar. [NBJ]

* Vancouver-based Earls Restaurant Group landed a $6.7 million permit for Earls Nashville at Nashville Yards. The restaurant, to open at 26 Platform Way S. in late 2025, will be 9,476 square feet with a 1,546-square-foot patio, according to the permit. [NBJ]

* California-founded Dog Haus Biergarten is on tap for East Nashville and Franklin. The East Nashville spot will be located at 908 Main St., once home to Edley’s Bar-B-Que and most recently housing Little Bites. [NBJ]

* The Dolly Wines Bar is now open at Assembly Food Hall [NBJ]

* Country star Ashley McBryde is bringing a new type of bar to Lower Broadway. McBryde will open Redemption Bar on the fifth floor of Eric Church’s Chief’s, on Aug. 28, according to a press release. [NBJ]

* After gaining popularity as a food truck, Bad Luck Burger Club has added a permanent outpost to its portfolio. The smash-burger restaurant is now open inside of Living Waters Brewing’s West Nashville location at 4909 Indiana Ave. [NBJ]

* Ingrassia & Sons Italian Deli is now open at 461 Humphreys St. in Wedgewood-Houston. [NBJ]

* Jack's Bar-B-Que's downtown Nashville location sold for $15 million. Robert's Western World owners purchased Jack's to expand their business. [NBJ]

* Popular Chicago restaurant, Alla Vita,  meaning “to life," will open next Spring at 523 Houston St., according to a release. [NBJ]

* A. Marshall Hospitality is expanding its downtown footprint. The longtime Nashville restaurant group will open Cliff’s Lounge & Oyster Bar, located in the auxiliary bar space of Deacon’s New South. The opening date, Aug. 5, is National Oyster Day. [NBJ]

* Philippe Chow will welcome guests this fall at 209 11th Ave. S. Suite 235, inside the historic Cummins Station. [NBJ]

* Choy, a Chinese American restaurant by Moni Advan and Nishaan Chavda, will close July 23, according to a social media post. 

* A serial entrepreneur and a tech software junkie are bringing a new type of retreat to downtown Nashville. Andy Williams, co-founder and CEO, and Tyce Miller, founder and chief strategy officer, will open Lodge2A, a private social club with shooting simulators, in 16,000 square feet of Cummins Station in the second quarter of 2026. [NBJ]

NATIONAL:

* U.S. Sen. Marsha Blackburn announces campaign for Tennessee governor. [NBJ]

* The White House is considering ending capital gains taxes on home sales.

Under current law, home sellers can face capital gains taxes once profits exceed $250,000 for single filers or $500,000 for married couples filing jointly. Since 1997, those thresholds have never been indexed for inflation, and more home sellers are subject to capital gains as property values rise. Some believe this won't happen, but the thresholds may be raised instead (long overdue!). Since 1997, the median home sales price has climbed by nearly 190%, from about $145,000 to roughly $417,000. (CNBC)

* Hawaii, New Hampshire, South Dakota, Idaho, North Carolina, Arizona, Nevada, Montana, Tennessee and Vermont have the the healthiest housing markets according to CNBC, who looked for a balance of affordability and value, price appreciation year over year, seller gains, affordability, property taxes, inventory, and housing starts. They also looked for signs of stress, like foreclosure activity and underwater mortgages. (CNBC)

* Uber: The app will let you choose “Women Drivers” when booking your ride [WSJ]

If you're in the market or know someone who would benefit from an informal conversation with me, please click here and we'll schedule some time together.

REMEMBER,

I have established relationships nationwide, likely in in your local markets, with agent colleagues of mine. Utilize the trust I've established with these high performing men & women to foster smooth dealings on your next transaction.

See the map below for our broad reaching locations. Thank you!

Shane McCarty

Affiliate Broker

M: 209.601.1957

O: 615.475.5616

shane.mccarty@compass.com