Tennessee continues to rank high on list for inbound moves and more regional business news
(EDITOR’S NOTE: This is a roundup of business news from throughout the Knoxville region. If you have some business news that you would like to be included in Teknovation Weekend, please email us at news@teknovation.biz.)
Tennessee ranks seventh for inbound moves in United Van Lines “Annual National Movers Study”
Tennessee continues to make rankings for inbound movers. The state has once again made the top 10 list for people moving here. In the 45th “Annual National Movers Study” from United Van Lines, Tennessee ranked #7 for inbound movers, with 62 percent. Neighboring South Carolina and Alabama were also on the list. In Tennessee, 29 percent of the inbound movers said it was for family, while around 32 percent said it was for a job. Nearly 30 percent of the movers were 65 or older, the largest age group. The second largest was 55 to 64 with around 25 percent. The two age groups also represented the largest portion of the outbound movers. Those 65 or older made up around 34 percent of those moving out of Tennessee, while those 55 to 64 were around 19 percent. Learn more here.
Tennessee in middle of the pack for Great Resignation rankings
Sometimes it is best not to be recognized as a leader, and that could certainly apply to a recent report from WalletHub. The personal finance website analyzed data from each state and the District of Columbia related to the “Great Resignation” and found that Tennessee ranks #23 with a 3.0 percent resignation rate in December and 3.03 percent over the past year. Topping the list for the past 12 months was Alaska, followed closely by two neighboring states – Georgia (#3) and Kentucky (#4). Click here for the rankings.
Housing News
In its January “Market Pulse” newsletter, the Knoxville Area Association of Realtors (KAAR) said the city’s rental market outperformed most of the United States for occupancy and rent growth in December. Occupancy rose to 98.9 percent and rent growth was more than double Knoxville’s five-year average. In a Q4 report from Attom Data, Blount and Knox County were among the top 50 markets least vulnerable to a pandemic downturn. KAAR also noted in the report that it will release its “2021 State of Housing Report” soon. Another highlight from KAAR was the continued increase in prices of building materials. Prices rose 15.9 percent across 2021. There were double-digit price increases in almost every category of material.
Business Openings
New2Knox and Move2Knox recently opened an office downtown at 323 Union Avenue. The business started with New2Knox, helping people connect to new friends in the area. Using social media and a webpage, the sites offer events, small groups, and articles. Learn more about the two businesses in this Inside of Knoxville article.
A new Downtown Marriott has opened on Henley Street. The property is owned by Rockbridge, which also owns the Tennessean. A ribbon-cutting was held earlier this week. There are 302 rooms in the hotel. Read more in this Inside of Knoxville article.
New Hires and Promotions
The Christman Company promoted Scott Wilkins to Senior Superintendent at the firm’s Knoxville office. Wilkins has 28 years of experience in oversight of large-scale projects. He joined Christman in 2019. “Scott is committed to fostering a safe, positive and productive work environment for his trade contractor partners and all craft workers while delivering exceptional results to our clients,” said Marty Gibbs, Vice President and General Manager for The Christman Company’s Knoxville operations. “He also has demonstrated that he is an excellent planner and leader who is able to strategically deliver our most challenging projects.”
