Real Gross Domestic Product: Real Estate (531) in Tennessee
TNREALRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
47,118.70
Year-over-Year Change
37.39%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Real Gross Domestic Product: Real Estate (531) in Tennessee' series measures the real output of the real estate sector in the Tennessee economy, adjusted for inflation. This metric is a key indicator of economic activity and growth in the state's 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 data series represents the real, inflation-adjusted value added by the real estate industry, a key component of Tennessee's overall gross domestic product (GDP). It provides insights into the health and performance of the state's real estate market, which is an important driver of economic growth and investment.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its state-level GDP accounts.
Historical Context
Policymakers and analysts use this metric to monitor the real estate sector's contribution to Tennessee's economic performance and to inform decisions related to housing, construction, and urban development policy.
Key Facts
- Tennessee's real estate industry accounts for approximately 12% of the state's total GDP.
- The real estate sector has seen steady growth in Tennessee over the past decade.
- Fluctuations in this metric can signal changes in the state's housing market and construction activity.
FAQs
Q: What does this economic trend measure?
A: This data series measures the real, inflation-adjusted value added by the real estate industry to Tennessee's gross domestic product (GDP).
Q: Why is this trend relevant for users or analysts?
A: The real estate sector is a critical component of Tennessee's economy, and this metric provides important insights into the performance and health of the state's housing and construction markets.
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 state-level GDP accounts.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to monitor the real estate sector's contribution to Tennessee's economic performance and to inform decisions related to housing, construction, and urban development policy.
Q: Are there update delays or limitations?
A: The data is typically updated on a quarterly basis, with some potential for minor revisions to historical figures.
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Citation
U.S. Bureau of Economic Analysis, Real Gross Domestic Product: Real Estate (531) in Tennessee (TNREALRGSP), retrieved from FRED.