Quotes of the Month
--"There is a fine difference of perspective between getting involved and being committed. In ham and eggs, the chicken is involved but the pig is committed. -- John Allen Price
-- Kemmons Wilson founded Holiday Inn. He never got a high school diploma. Here's the advice he gave at a high school graduation: "I've only worked half days my entire ife. My advice to you is to do the same - work half days every day. And it doesn't matter which half...the first twelve hours or the second twelve hours. -- From Harvey Mackay

           Interest Rates:
10 year Treasuries were 4.55% as of 2/28/07, compared to 4.71% as of 12/29/06, 4.61% on 10/31/06, 5.07% on 4/28/06, 4.56% on 3/30/05, and 4.62% on 6/30/04.

           Top Stories and Observations from News Reports:

1. Nashville is 30th Largest U.S. TV Market
2. Smyrna Booming, 2 Major Projects Announced
3. Nashville's 2005 Population 31,700 More Than Thought
4. Nashville Office Absorption Highest Since 2000
5. 2.2 Million SF of New Nashville Office Space in 2007
6. Nashville No. 18 on Forbe's "Best Cities For Jobs" List
7. One Century Place Sells For $70 Million
8. Gaylord Plans $400 Million Expansion

           Headlines For January 2007 (listed by date)

1. Nashville 30th Largest TV Market in U.S.,Neilsen Media Estimate, 1/1/07
2. U.S. Manufacturing Expanded More Than Expected In December, AP, 1/3/07
3. 2006 U.S. Holiday Shopping Unimpressive, AP, 1/3/07
4. Smyrna Getting 86 Acre Retail, Residential Project, Business Journal, 1/5/07 (Colonial Properties Trust paid $12.4 million on which 400,000 sf of retail and 300 apartments will be built on Sam Ridley Parkway near I-24)
5. Nuclear Power Booming, Personal Finance, 1/10/07 (All around the world, not as much yet in the U.S.)
6. Cinema, Office, Condos Announced For Smyrna, City Paper, 1/17/07 ( 14-screen Malco and 133,600 SF of retail condos)
7. MetroCenter Warehouse Building Sells For $19.9 Million, CoStar News, 1/17/07 (597,500 SF)
8. Consumer Prices Rose In 2006 At Slowest Pace In 3 Years, AP, 1/18/07
9. Nashville's Revised Population is 607,000 For 2005; 31,739 More Than Thought, AP, 1/18/07
10. Eckerd Becoming RiteAid, AP, 1/19/07
11. Nashville Set Record For Building Permits In 2006, Business Journal, 1/23/07
12. Nashville MSA Jobless Rate 3.5% In December, Tennessean, 1/25/07 (Down from 3.9% In Nov. and 4% in Dec. 2006. 2.6% in Williamson. 4.5% for U.S.)
13. Commercial Construction Prices Projected To Increase 6% to 8% in 2007, National Real Estate Investor, 1/25/07
14. Opus Contracts For 184 Acres In Wilson County For $2.2 Million Industrial Park, Business Journal, 1/26/07
15. Williamson County Was 15th Wealthiest In U.S. In 2005,Grubb & Ellis/Centennial, 1/30/07
16. 2006 Had Highest Office Space Absorption Since 2000, Grubb & Ellis/Centennial, 1/30/07 (860,500 SF of net absorption in Nashville area. 9.9% vacancy)

           Headlines for February 2007 (listed by date)

1. 2.2 Million SF Of New Nashville Office Expected In 2007, Most Since 2000, CoStar News, 2/1/07 (Most in Cool Springs)
2. 2006 Personal Savings At 74 Year Low, AP, 2/1/07 (Negative 1%)
3. One Century Place Sells For $70 Million, Business Journal, 2/2/07 (539,000 SF)
4. 2007 Could Be A Year Of Economic Growth, Low Inflation And Stable Interest Rates, Business Week, 2/5/07
5. 629,000 SF Retail Center Planned For Briley And Dickerson Pike, Business Journal, 2/9/07
6. Gaylord Plans $400 Million Expansion, Tennessean, 2/13/07
7. Nashville No. 18 On Forbe's "Best Cities For Jobs" List, Business Journal, 2/19/07
8. Conference Board Indicates Modest U.S. Economic Growth For First Half Of 2007, AP, 2/21/07 (Tracks 10 Economic Indicators)
9. Central Parking To Go Private in $726 MM Deal, Tennessean, 2/22/07 (Congratulations to Monroe Carell)
10. Steep Increase In Office And Warehouse Predicted, National Real Estate Investor, 2/22/07
11. 87% of Europeans Say They Are "Happy", Reuters, 2/26/07
12. Economists Say Recession Unlikely, AP, 2/27/07
13. 2006 CPI Was 2.5%, TN Labor Market Report, 2/28/07
14. Nashville Cost Of Living 11% Less Than U.S. Average, TN Labor Market Report, 2/28/07 (89% vs. 96% for Memphis. U.S. Average is 100%)
15. Will Lenders Tighten Up Due To Meltdown Of Subprime Lenders?, Fidelity Insight, 2/28/07 ("Subprime" lenders specialize in home loans to people with weak credit. The index for bonds backed by those loans as dropped 30% in 2 months, indicating that investors believe default rates will rise sharply)
16. Marcus & Millichap 2007 National Office Report Predicts Office Cap Rates Stable In 2007 Marcus & Millichap, 2/28/07
17. Comp USA Closing half of their stores, but not in Nashville, Various reports, 2/28/07

David Huddleston
(615) 310-2547