The nation’s economic recovery is “running out of steam,” but Knoxville is doing better than most other metropolitan markets when it comes to job creation and production, according to study released this week by The Brookings Institution.
Knoxville was one of only 19 metro areas that saw faster output growth in the second quarter than in the first quarter, Brookings reports in the quarterly MetroMonitor, which analyzes the health of the nation’s 100 largest metro economies.
Knoxville’s housing market was behind the curve when the housing bubble burst a few years back and sales and prices plummeted. That was a good thing. The regional housing market suffered, but not nearly as much as cities in California, Florida, Las Vegas and other overheated markets.
Apparently the same is true when it comes to the housing market recovery. Sales prices are starting to rise in much of the country, but not in metropolitan Knoxville, according to a report released today by the National Association of Realtors.