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  • Writer's pictureJohn Williams

Clarksville is Booming!

Updated: Dec 29, 2023

Downtown Clarksville Tennessee
Clarksville is Booming!

Clarksville, Tennessee is a city in Montgomery County, located in the northwestern part of the state. It is the fifth-largest city in Tennessee and has a population of approximately 160,000 people. Over the years, Clarksville has undergone significant economic and business growth, making it a thriving hub for various industries. In this blog post, we will explore some of the recent economic and business trends in Clarksville, TN, to truly show you why Clarksville is Booming!

1. Real Estate

The real estate industry has been growing significantly in Clarksville in recent years. The city is currently experiencing a construction boom, with numerous housing projects popping up all over town. New homes, apartments, and condos are being built to accommodate the growing population, especially with the influx of military personnel from nearby Fort Campbell.

Additionally, the average home value in Clarksville has increased by over 10% in the past year alone. The current median home sales price is around $309,000, which is lower than the national median but higher than the Tennessee state average. With a low unemployment rate and steady population growth, the demand for housing in Clarksville is expected to remain strong in the coming years.

2. Manufacturing

Clarksville has a robust manufacturing industry, with companies such as LG Electronics, Florim USA, and Bridgestone America all having significant manufacturing facilities in the area. The city’s central location, excellent infrastructure, and access to transportation make it an ideal location for manufacturing and logistics companies.

Additionally, in 2021, the city announced that a new $800 million manufacturing plant would be built by the Japanese-owned company, Hankook Tire. The new facility is expected to create over 1,800 jobs in the area and will be a significant boost to the local economy.

3. Healthcare

The healthcare industry is also growing in Clarksville, with the opening of the new Montgomery County Veterans Plaza and Health Center in 2021. The 47,000 square foot facility will provide primary care, mental health, and other medical services to veterans in the area.

Additionally, the new Tennessee Valley Healthcare System Hospital is expected to be completed in 2023. The $430 million project will include a 155-bed hospital and a 100,000 square foot outpatient clinic. The hospital is expected to create over 1,000 jobs and will provide much-needed medical services to the residents of Clarksville and the surrounding area.

4. Education

Clarksville is home to Austin Peay State University, a public university with over 10,000 students. The university has been growing steadily over the past decade and has become a significant contributor to the local economy.

Additionally, the Clarksville-Montgomery County School System is one of the largest employers in the area, with over 5,000 employees. The school system has been investing in new facilities and programs, making it an attractive option for families looking to move to the area.

5. Retail and Hospitality

The retail and hospitality industry in Clarksville has also been growing in recent years. The city has seen a significant increase in tourism, with visitors attracted to its historic downtown area, scenic parks, and proximity to Fort Campbell.

The opening of the new Downtown Commons in 2019 has also been a significant boost to the local economy. The 4-acre park includes a performance stage, a splash pad, and a large open-air pavilion for events. The park has become a popular destination for locals and tourists alike and has helped spur new retail and restaurant development in the downtown area.

6. Technology

Finally, the technology industry is also on the rise in Clarksville. The city has been investing in its infrastructure to attract tech companies, including the construction of a new data center by the company TierPoint.

Additionally, the city has been working with Austin Peay State University to establish a new Center for Excellence

The bottom line is that Clarksville has been experiencing a lot of exciting growth… and it is only expected to continue!

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