Tenant demand for office space remains active amidst shifting space needs in Nashville
![Graph of Nashville urban and suburban submarket office space on market by months from 2017 to 2023 YTD](/documents/191207401/195262280/Nashville+Data+Bite+-+Office+months+on+the+market_11.6.23.png/148c0f27-14c8-921b-c13a-d29728795d40?t=1699887462778)
- Tenants’ shifting space needs amidst a large concentration of newly delivered speculative office space has caused vacancy to increase significantly in recent years, with Nashville’s office vacancy now standing at 21.1%, above the 10-year average of 12.8%.
- While rise in vacancy may give an impression of the market “softening”, tenant demand remains active in both urban and suburban submarkets throughout Nashville. Months on the market- the time space remains on the market before it is leased- is currently sitting below the averages recorded prior to the current construction boom.
- More active development submarkets in the urban core have seen a slight rise in months on the market due to the rapid increase in supply.
Get market intel
US-TN-NSH Nashville