Nashville real estate - Why do government officials project record growth every year when they are budgeting? If businesses were run this way, more would fail than succeed.
In a quote from State Representative Glen Casada, "Tennessee Governor Bredesen noted that revenue collections continue to worsen for the State. Tennessee could be facing a $500 million shortfall on projected revenue collections which would result in substantial cuts to projected spending to the 2008-09 State Budget. I think it is important to note that the State will collect more than what it did last year, thus the "cuts" we hear about are cuts on projected growth. Their may be some actual cuts in some departmental spending, but this will be due to increased spending in other departments."
It's nice to have some government officials who believe in stating the facts.
How does this impact Nashville real estate? It shouldn't, unless our leaders can convince the voters to allow for a State income tax. If that were to happen, I'm sure that the migration of corporate offices to Nashville, Franklin and the surrounding areas would come to a grinding halt. The fuel for real estate is jobs, and our tax structure in Tennessee is very good for business growth. As long as the job growth continues, our real estate market will flourish.
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