Real estate developer Meg Epstein turned heads when she decided to leave California and start her real estate development business in Tennessee in 2016. Now, however, it is clear that she made the smartest possible move. Epstein is the recipient of multiple real estate-related awards, including the 2022 NAWRB Commercial Leader Award and the 2020 Up and Coming Developer of the Year Award. Her company, CA South, has developed over 500,000 square feet of industrial office space, 70,000 square feet of office space, more than 163,000 square feet of residential space, and 155 residential units. As inflation and rising interest rates put a strain on real estate markets in other parts of the country, Tennessee real estate continues to perform well, and Epstein is eager to explain why.
Population growth plays a big role in successful real estate development. The 2020 census found that more than half a million people have moved to Tennessee in the last ten years, Meg Epstein explains, and this has increased demand for housing. At the same time, the Tennessee construction industry has faced the same headwinds faced by construction companies throughout the nation, including inflation and supply chain shortages. This has limited supply while demand steadily grows for new housing. Furthermore, Tennessee's economy is a healthy, growing one that is sure to bring in new companies and people in the coming years. The state's job market increased by almost 2% in the last year, but future job growth for the next ten years is predicted to exceed 41%, which is significantly higher than the national average of 33.5% Tennessee has been ranked as the eleventh best economy in the nation, just below Washington, D.C.
At the same time, Epstein notes, market growth varies not only by state but also by city. Zillow notes that residential real estate prices in Cookeville, Tullahoma, and Sevierville will increase by over 6% over the next year. At the same time, Nashville and Memphis will see only a modest rise in value. While experts warn that rising mortgage loan rates and other economic factors could cause a market slowdown they point out that a crash is highly unlikely as demand remains high, supply is low, and current homeowners are in a strong financial position, making the occurrence of a foreclosure crisis unlikely.
Meg Epstein enjoys seeing the potential in markets that don't generally attract a lot of attention and diversifying her investments to include both projects in high-income suburban areas and projects in areas with a moderate income level but a rapid growth rate. When she's not working, she also enjoys a range of active hobbies, including traveling, sailing, and yoga. Epstein is also a regular volunteer at Celebrity Center Nashville, Church of Scientology, where she works on human rights campaigns, protection of parental rights, and campaigning for religious freedom.