With no income tax and a low cost of living, Nashville is an attractive market for residents and businesses alike.Joe Howell
No. 8: Nashville
Score: 52.5
Like its chicken, the Music City is hot! Over the past few years, the city’s sports business reputation has grown, as it welcomed NASCAR back after a decade’s absence; saw its minor league soccer team move up to MLS and into the country’s largest soccer-specific stadium; and was only the fourth (and smallest) market since 1957 to host the NFL Draft. The city earned one of the highest levels of positive sentiment from the executives in our study, as the market was praised for its progressive and energetic business climate.
Sports properties (8): With a population of around 2 million, Nashville teams generated a five-year attendance total of 13.2 million, one of the highest ratios in our study. Attendance should continue to grow, as the only cities in our study with hotter residential real estate markets were Boston, Columbus and Louisville, Ky. Notable events include the 2022 Toyota U.S. Figure Skating Championships and a considerable SEC presence: the men’s basketball tournament (15 times, 2013-2030) and the 2026 women’s basketball tournament (eighth time).
Sponsor footprint (17): California’s iconic In-N-Out restaurant is building its Eastern headquarters here — the brand’s first move east of Texas. CKE Restaurants, parent to Carl’s Jr. and Hardee’s, recently relocated its Southern California headquarters to Nashville. Other notable sponsors include Bridgestone Tire, Nissan, ServPro and Hankook Tire.
Facilities: The Titans hope to move into a new $2.1 billion stadium in 2026; a $100 million modernization of the historic Nashville Fairgrounds Speedway is being finalized; and Austin Peay basketball will play at the $130 million F&M Bank Arena, which has two sheets of ice and is operated by the Predators. Geodis Park, home of Nashville SC, opened in 2022 to general acclaim, although traffic around it gets mixed reviews. (Have we mentioned our survey respondents don’t like traffic?)
Economics: Tennessee has no income tax and every major living expense is more affordable than the U.S. average. The nightly room rate of $167 and the 15.25% room tax falls in the middle of our market scoring. Tennessee established the Special Event Grant Program in 2022, and the Legislature provided a one-time allocation of $25 million to attract major entertainment and sporting events to the state.
What they’re saying: “It’s a hot city, growing by leaps and bounds. It’s an affordable market with an attractive business climate.”
“It’s becoming a ‘destination’ sports city, much like Las Vegas.” — D.B.
