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Overview 

With a population of 7 million, Tennessee plays a big role in the U.S. economy. The state has a GDP of $447.5 billion, of which construction contributed $18 billion. There were 17,000 construction projects in Tennessee in the first quarter of 2024.  

Major Projects and Growth Opportunities 

Urban updates to areas of Nashville, Memphis, and Chattanooga are supporting the growing tech industry as more startups and firms are expanding. The state has invested $68 billion in new roads and bridges to improve transportation. Healthcare is also growing, with new hospitals and clinics being developed to address the aging population. The finance sector has also grown, especially in Nashville, which often requires expanding existing buildings and adding new banks and insurance centers. 

Sustainability and Infrastructure 

Tennessee invests in green energy like wind and solar power. Efforts are also underway to manage water better and cut carbon emissions. Updates to public transit and electric vehicle charging stations are part of infrastructure plans. Construction professionals who are LEED-certified may find several project opportunities throughout Tennessee in the coming months. 

Challenges 

Commercial construction professionals looking to operate in Tennessee need to be aware of environmental concerns, such as recent natural disasters and ongoing climate change, which could provide building opportunities and challenges for long-tail projects. 

Future Outlook 

The future of Tennessee has some positives and negatives. Growth is expected to continue but may slow down due to economic and climate problems. Investment in fields like biotech and clean energy could increase economic growth. Green and smart policies will shape the future, but housing costs and climate risks must be addressed for long-term growth. 

WPP Tennessee CHART_20241118.01

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Top 50 Cities in Tennessee

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