What does Amazon's announcement mean for Nashville's housing market?
Mike Reicher, Nashville TennesseanPublished 2:45 p.m. CT Nov. 15, 2018 | Updated 12:46 p.m. CT Nov. 16, 2018
In Seattle, Amazon’s 45,000 workers contributed to skyrocketing housing costs — an oft-criticized part of the “Amazon effect.”
Now 5,000 of the company’s jobs — with an average annual salary of $150,000 — are coming to Nashville.
The addition of thousands more white-collar employees to the city, both from Amazon and other companies, could push up housing prices, experts say. Some neighborhoods and types of homes could be in more demand — and potentially command a higher price — depending on how Amazon recruits its employees, and the types of jobs they fill. The effects, though, will be diffused over years, which is welcome news for many struggling to afford housing.
“Those kind of higher-wage jobs will put upward pressure on home prices,” said Daren Blomquist, senior vice president at Attom Data Solutions, a national property information company. “There are already upward pressures because it’s a booming economy, even without Amazon.”
Amazon said its new office will provide technology and management for its retail operations division, which handles customer service, transportation, the supply chain and fulfillment of online orders. The company hasn’t detailed, however, what types of jobs will be needed — how many software engineers, for instanc
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