Real Gross Domestic Product: Real Estate and Rental and Leasing (53) in Tennessee
TNRERENTLEARQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
53,253.00
Year-over-Year Change
10.04%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the real gross domestic product (GDP) of the real estate and rental and leasing industry in Tennessee. It provides insights into the performance and growth of this key sector of the state's economy.
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
The Real Gross Domestic Product: Real Estate and Rental and Leasing (53) in Tennessee series tracks the inflation-adjusted output of businesses primarily engaged in real estate, rental, and leasing activities within the state. This metric is used by economists and policymakers to analyze the health and dynamics of Tennessee's real estate and related industries.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard national accounting methods.
Historical Context
This trend is relevant for understanding broader economic conditions and policy decisions affecting Tennessee's real estate and rental markets.
Key Facts
- Tennessee's real estate and rental/leasing sector accounts for over 13% of the state's GDP.
- This industry has experienced steady growth, with an average annual increase of 2.4% over the past decade.
- The COVID-19 pandemic had a significant impact, leading to a 3.7% decline in 2020 before a rebound in 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) of the real estate and rental and leasing industry in the state of Tennessee.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the performance and growth of a key sector of Tennessee's economy, which can inform economic policy and business decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard national accounting methods.
Q: How is this trend used in economic policy?
A: This trend is relevant for understanding broader economic conditions and policy decisions affecting Tennessee's real estate and rental markets.
Q: Are there update delays or limitations?
A: The data is typically updated on a quarterly basis, with a lag of several months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Real Estate and Rental and Leasing (53) in Tennessee (TNRERENTLEARQGSP), retrieved from FRED.