Today I got stats from the wonderful folks at the Davidson County Assessor's Office. Seems like things haven't been too shabby here in Nashville either. Between 1994 and 2008, Davidson County's assessed valuation went from $7.784 billion to $16.479 billion - about 111%. Of the $8.694 billion in increased valuation, $5.130 billion or 59% is attributable to our residential and farm growth. Not as much as Williamson County's 70% - but still pretty strong.And if we were losing growth, businesses and residents to Williamson County, how could Nashville's real estate market be one of the most stable in the country?
Ironicially, our commercial and industrial tax base accounted for 34% of the total growth. That is 10% more than Williamson County. In fact, Davidson County's commercial/industrial tax base grew 89% from 1994 to 2008. Williamson County's percentage growth rate is higher at 400% but you tend to find those kind of percentages when you are working with small numbers. Williamson County's commercial tax base is still just 24% of Nashville's.
When you look past the May Town scare tactics at the numbers, you have nothing to fear except fear itself. Rushing out to build a downtown in a pasture would be knee-jerk nuts with Nashville's relative stability.