Nashville apartment rents fall 3.1% due to the amount of new apartments released in the last 2 years. Approximately 2000 new apartment units hit the market PER QUARTER, which is what the YEARLY output has been each year from 2010-2015. I think this correction was coming, but I do not think this is a sign of further long-term imbalance. Rents still remain high, and it is still much more advantageous to own than rent, if you can.
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