Looking to secure heft, deepen scale, and drive affordability in one of the U.S.’s hottest new residential development and construction markets,

Source: Century company filings

We wrote earlier:

The backdrop of both aspects is a Nashville market that’s “on fire” as a magnet for jobs, for pandemic-era relocation to secondary and tertiary metros, and for economic vibrancy.

Here are a few bullet points that give context to the near- and longer-term outlook for the market:

  • The Wall Street Journal just highlighed a Moody’s Analytics study that recognized Nashville as the 2nd hottest jobs market in the US, highlighting these characteristics as drivers: “They’re in midsize cities, all with a population under 2.3 million. They’re in states with fairly low income taxes, or none at all. And their climates allow for outdoor activities all year round.”
  • According to analysis from Roofstock, Nashville MSA experienced job growth of 26% between 2010 and 2019, making the region the 2nd-fastest growing metro economy in the country.
  • Unemployment rate in Nashville is 2.8% as of October 2020, according to the BLS.
  • Target industries in Nashville include health care, music and entertainment, advanced manufacturing, corporate operations, and supply chain management.

Dale Francescon tells us:

We’ve morphed our M&A activities, and while there are a few markets in Florida that we’d like to be in and don’t have enough of a presence, our primary goal now is to augment our already extensive organic land supply. The Landmark transaction just fits that perfectly.”