The Luxury condominium market refers to the real estate market segment of high-end, upscale multi-level buildings typically located in desirable areas of the city and characterized by their luxurious finishes, amenities, and features that facilitate a tailored lifestyle. In Nashville, many luxury condominiums are in the downtown area, near popular entertainment venues and notable dining destinations.
In recent years, Nashville has seen growth in demand for high-rise luxury condominiums and a continual upward shift in the price for the market. Prominent brands such as the Four Seasons emerging into the Nashville skyline and Ritz-Carlton further solidifying their plans to establish their presence in the area can be attributed to the city’s strong and diverse economy, rising demand for housing and the desire for urban living. When considering market conditions, the luxury end of the market seeks brand power and attractive lifestyle environments that can better withstand market fluctuations. Thrillist names Nashville amongst America’s top 20 cities with the most beautiful skylines.
Nashville’s vibrant culture centered on music, the arts and entrepreneurship and its resilient economy make it a desirable living destination. In 2022, the Nashville Metropolitan Statistical Area had the second-highest GDP growth of any major metro in the US. It exited the pandemic stronger than ever with tourism up 10% compared to pre-pandemic figures and development investments pouring in from local, national, and international players in the market. According to the Nashville Area Chamber of Commerce, The Chamber’s Year in Review, all eyes are on Nashville for 2023.
According to RealTracs®, Nashville’s new listings for condominiums priced at $580,000 or greater are down by 32% year-to-date and condominium closed sales priced $580,000 or greater are up by 52% year-to-date. Another critical factor contributing to the market's upward shift in value is supply. Currently, there are no high-rise condominiums under construction in Nashville. Compared to other metro-like cities, Nashville is still in its infancy when it comes to high-rise, and luxury condominiums and its limited supply calls for increased demand. Nashville has 10 high-rise luxury condominiums, that combined offer 2,293 residences.
Nashville's 10 high-rise buildings are fully amenitized with a combined 2,293 total residences:
- Four Seasons
- Broadwest
- 505
- Viridian
- Encore
- Icon
- Terrazzo
- Rhythm
- Adelicia
- Twelve Twelve
Giovanna Murillo is the 2023 President of NAHREP Nashville and a REALTOR® with The CityLiving Group at VILLAGE. She is a graduate of Lipscomb University, College of Business with a major in Corporate Management, Lean Six Sigma Green Belt certified, and an avid learner who is passionate about establishing higher standards of service excellence. Originally from Mexico, Giovanna is fluent in Spanish and English.
