Tennessee Housing Market – 1st quarter 2009
From Business and Economic Research Center, Middle Tennessee State University
Housing construction continued to plunge in the first quarter, with total permits down 13.7 percent from the fourth quarter and 45.0 percent over the year. Similar declines occurred in the South and the United States (Table 2). All of the decline for Tennessee can be attributed to multifamily construction, including apartments and condominiums. In fact, multifamily permits are down 49.1 percent from the previous quarter and 51.2 percent over the year.
See the entire 1st quarter 2009 report