Nashville’s office sales and pricing remain muted

As borrowing costs and vacancy levels have increased, office investment has slowed in Nashville, Tennessee. During 2021 and 2022, quarterly transaction volume averaged $334 million across an average of 84 transactions. Since the start of 2023, there has only been an average of $126 million in only 45 transactions per quarter as challenges remain, mainly in the form of high vacancies in less-desirable properties.