Rental Market in Nashville Slowing

Lee

September 2018

The time has come.  After many years, the Greater Nashville Area is experiencing an abrupt slowdown and prolonged time on market for single family rental homes.  Omni Realty Nashville has been experiencing an incremental shift, and testament to this issue is the overal quality of the applicant pool.  While there is still signifcant interest in our available properties, we have seen numerous applications that we, unfortunately, have had to deny at an alarming rate.  There also seems to be a strong supply “creep”, as evidenced by the blob of available properties that formerly were dots on the Zillow map.  With the presence of hedge-fund-owned properties and overabundance of apartment construction in the area, this shift is not at all suprising.  Omni strives to stay abreast of market circumstances like this, and maintain a robust and creative marketing platform to combat the issue.  Remaining proactive and adaptable, both as a service provider and as a property owner, is key to maintaining rental property performance in slower markets.  Check out this article from Bloomberg addressing these issues in Nashville and other markets across the USA.