Chattanooga has witnessed significant growth throughout 2024, with notable strides in commercial real estate, a thriving hospitality sector, and an expanding housing market. Downtown Chattanooga has emerged as a central hub of innovation, with a diverse range of large-scale projects currently underway. From comprehensive redevelopment efforts encompassing hundreds of acres to a notable increase in hotel development, the city is rapidly evolving to meet the demands of a growing population and economy.

Chattanooga continues to exhibit growth across all sectors of real estate. The lead stories for 2023 have been dominated by the progress and activity at the former Wheland Foundry site and The Bend. Combined, these two developments comprise over 200 total acres located on the Tennessee River and are located on the fringe of the central core of downtown.

Market conditions remain essentially the same in 2022 as they were in 2021. Continued impressive demand and diminishing supply persist across all segments of the market.

The real estate market in Chattanooga continues to be RED HOT across all segments. Residential inventories are at an all time low, as are inventories in industrial product and developable land. Quality of life, affordability, available opportunities, and extraordinary internet connectivity all contribute to make Chattanooga highly sought after by investors, as well as employers.

Nokian Tyres broke ground on the Dayton, Tennessee plant in early 2018, with production expected to begin in 2020. The company plans to invest $360 million in this project, which will be Nokian Tyres’ first North American plant. At least 400 new jobs will be generated once completed.