The country music capital is in a growth spurt with luxury development on the rise and a bevy of corporate relocations underway
Nashville’s luxury condo scene is booming, with experts likening the Tennessee city of 700,000’s recent growth to a coming of age.
“I like to think of Nashville as this city that’s kind of a pre-pubescent adolescent,” Compass affiliate broker Katie Morrell said. “Some mistakes will be made, probably, and lessons will be learned, but I think we’re doing a good job” at growing responsibly.
Part of that growth is driven by major corporate relocations and expansions from the likes of AllianceBernstein, Amazon, Oracle and Starbucks that are bringing thousands of jobs to the city, adding to an economy already powered by tourism, healthcare and the music industry.
In step, Music City is experiencing a surge in branded residences and luxury condo high-rises to meet current and future demand for city living. After the Four Seasons Hotel and Residences helped prove demand for ultra-high-end living when it debuted to record-setting sales in 2022, a bevy of high-profile projects are following close behind.
This influx of new inventory offers an ideal opportunity for those looking to get a foot in the door in a market that has been wooing a growing cohort of deep-pocketed buyers with high-paying jobs, a unique city identity and favorable taxes.
Corcoran agent Kris Wylder recommended that potential buyers should make a move when a project is in pre-development to see the biggest return on their investment.
“In Nashville, historically, if you buy pre-development, the pricing is lower and then it jumps up,” she said. “I have tons of clients that have bought pre-development at every project that they’ve been able to here who have done insanely well with it.”
The gist, Wylder said, is get in while you can. With the likes of Oracle and Starbucks setting up shop, “real estate here—especially in the pre-development world—is not going to get less expensive.”
Nashville’s Most Expensive Condos
The luxury condo tower boom has taken over parts of Nashville. The Four Seasons Hotel and Residences—which opened in 2022 and where, soon after, a penthouse sold for a record-setting $15 million—proved there was an appetite for this level of luxury housing in the city, Morrell said.
The Four Seasons was just the beginning. The Pendry Residences, under the Montage International hospitality brand and slated for 2027, will bring 146 condos priced from $1.25 million as well as an 180-key Pendry hotel to Paseo South Gulch, a neighborhood also being developed by Pendry Nashville’s developer SomeraRoad.
“The Nashville market is growing to meet the demand and expectations of buyers that are coming to the city” from larger markets like New York, Los Angeles, Chicago and Texas, said Andrew Donchez, who heads up development for SomeraRoad. He noted that they’ve seen prospective buyers already living in Nashville interested in the Pendry residences, too.
A rendering shows the Pendry Nashville Hotel and Residences.
Pictury
“We’ve heard from a lot of potential buyers, and our current pool of buyers, that they would have loved to buy something downtown 10 years ago, it just didn’t exist,” he added.
The Residences at the Nashville Edition, a Marriott brand, are poised to debut in 2028 with 84 units—from one-bedroom to penthouse layouts—and prices starting around $1.65 million. They will sit on top of a 261-key Edition hotel. Wylder, who is the development’s sales director, said she’s seen a fair amount of pied-à-terre buyers and buyers looking for an investment in a city on the rise.
“Branded residences tend to demand more from a pricing standpoint, which also means that they, in my mind, hold value better because it is something that differentiates them within the market,” Wylder said. According to Corcoran Sunshine Marketing Group, the Edition achieves a 35% brand premium.
Also incoming is Paramount, a 60-story tower by local developer Tony Giarratana that is on track to become the tallest building in Tennessee. It will have 140 condominiums atop 360 rentals and a parking garage, with prices starting around $1.1 million.
Down the line, the city will welcome a 182-key hotel with 140 condos under the Ritz-Carlton brand. The St. Regis is also planning to bring a 179-key hotel and 182 branded residences to downtown.
Burgeoning neighborhoods the Gulch and Paseo South Gulch, where Pendry and Edition are located and where the Ritz-Carlton is planned, are being positioned as Nashville’s urban live-work-play hubs.
“The Gulch has emerged as the high-rent district in downtown Nashville. You see the flight to quality in all asset classes in real estate: office tenants moving to new buildings, the highest-end restaurants, the best residential offerings, the best hotels are all coalescing in the Gulch,” Donchez said.
A rendering shows a living room at the Residences at the Nashville Edition.
DBOX (Rendering)
Donchez takes particular pride in the mix of beloved local businesses and national chains SomeraRoad has cultivated in Paseo South Gulch. The Michelin-starred restaurant the Catbird Seat relocated to the neighborhood in 2024 after a decade in its former home. The Gulch is also poised to welcome the city’s first Equinox gym.
“I look at it like a mini-New York City,” Wylder said.
What’s Fueling the Nashville Boom?
Nashville has courted corporations for decades with its favorable tax policies—including its lack of state income tax—and quality of life for employees, but a few big recent corporate moves have created new momentum in the city.
Investment management firm AllianceBernstein relocated its corporate headquarters to downtown Nashville in 2021, bringing over 1,000 jobs with it. In the same year, Amazon established an East Coast operations hub in Nashville Yards, bringing about 5,000 corporate jobs to the city.
More recent relocations include Oracle’s 2024 announcement that it would move its world headquarters from Austin, Texas, to Nashville. Professional audio manufacturer Sennheiser announced earlier this year that it’s relocating its headquarters to Nashville, the country music capital.
In the same vein, the owner of Penguin Random House, Bertelsmann, announced in late April that it would combine its music business, BMG, with independent label Concord and locate its U.S. headquarters in Nashville. And in April, Starbucks announced it will spend $100 million to establish a new corporate hub that will bring 2,000 jobs.
And of course the city has its own homegrown industries, like a healthcare network that is among the most robust in the nation, and a tourism industry that has planted Nashville as a go-to destination not only for bachelor and bachelorette parties but also for its unique culture.
Add to that, too, that it’s the seat of the state’s NFL team, the Tennessee Titans, and that a new $2.1 billion multipurpose, enclosed stadium with 60,000 seats is slated to open in spring 2027.
Burgeoning neighborhoods the Gulch and Paseo South Gulch are where Pendry and Edition are located and where the Ritz-Carlton is planned.
SomeraRoad
Why It’s a Win for Buyers
Tennessee offers a range of favorable tax policies worth weighing for anyone considering relocating to the state.
Like Florida and Texas, Tennessee has no state income tax on wages. Property taxes are also relatively low by national standards, and are often lower than in Texas—another state without income tax—though rates vary by locality.
Unlike Florida, Tennessee doesn’t offer a broad homestead exemption that significantly reduces taxes for full-time primary residents. That can make the state especially appealing for second-home buyers, part-time residents, and investors who may not qualify for residency-based tax breaks elsewhere and who may have an eye on the city’s luxury condo market.
Tennessee also has no state estate or inheritance tax, and no separate state capital gains tax, adding to its appeal for higher-net-worth households.
“I do not believe Nashville is in this real estate bubble that is going to burst at some point,” Wylder said. “I think Nashville is finally catching up.”
