Chain-Type Quantity Index for Real GDP: Real Estate (531) in Tennessee
TNREALQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
123.70
Year-over-Year Change
37.39%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Real Estate (531) in Tennessee measures the real output of the real estate sector in the state's economy. This metric is a key indicator for monitoring the health and growth of the real estate industry.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This index tracks the real, inflation-adjusted production and activity in Tennessee's real estate sector, which includes activities such as real estate leasing, property management, and related services. It provides valuable insights into the overall performance and dynamics of the state's real estate market.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its comprehensive measures of state-level real GDP.
Historical Context
This trend is closely watched by policymakers, real estate industry analysts, and investors to assess the economic conditions and outlook for Tennessee's real estate market.
Key Facts
- Tennessee's real estate sector accounts for approximately 10% of the state's total GDP.
- The real estate index has grown by an average of 3% annually over the past decade.
- The index reached an all-time high in 2021, reflecting the strong performance of the Tennessee real estate market.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted output and activity of the real estate sector in the state of Tennessee, including real estate leasing, property management, and related services.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the overall health and growth of Tennessee's real estate market, which is a significant component of the state's economy. It is closely watched by policymakers, industry analysts, and investors.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its comprehensive measures of state-level real GDP.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and real estate industry stakeholders to assess the economic conditions and outlook for Tennessee's real estate market, which informs policy decisions and investment strategies.
Q: Are there update delays or limitations?
A: The data is typically published with a 1-2 quarter delay, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Real Estate (531) in Tennessee (TNREALQGSP), retrieved from FRED.