Scott Heuerman

Where the City of Nashville "Screwed Up" ( written with the help of AI) In my opinion, it was lack of oversight and greed. You can't tell me that the progressives did not know what they were doing... The goal, the overall goal of the progressive movement is to use government action to address economic inequality, expand the social safety net, and protect civil rights and environmental sustainability. Now from AI 1. Bankrolling a Downtown Bubble (Over-Incentivizing Luxury) For the past decade, Nashville operated heavily on a "boomtown" growth strategy. The city used zoning shifts and fast-tracked approvals to clear the way for dense high-rises and downtown condominiums. • The Flawed Assumption: The prevailing economic theory was that building any housing supply would cool down prices globally. • The Reality: Out-of-state developers and Wall Street investors didn't build affordable starter homes; they built luxury condos, boutique hotels, and short-term Airbnb rentals optimized for maximum profit margins. This created the current "blood bath" for luxury speculators—leaving downtown Nashville with the highest inventory of unsold downtown condos of any major city in the United States. 2. The Reappraisal and Tax Rate Bait-and-Switch In 2025, Davidson County properties underwent a mandatory four-year reassessment, revealing a massive 45% to 46% median spike in property values driven by the pandemic boom. • The Failure: Under Tennessee state law, when property values spike that sharply, the city is legally required to lower the tax rate to a "revenue-neutral" level so it doesn't get a massive tax windfall. • The Council's Move: Instead of keeping the rate neutral to protect residents from inflation, the Metro Council voted 32–6 to override the certified rate and pass a 26% property tax hike to fund a $3.8 billion municipal budget. This meant that even as the housing market began to cool and slow down in 2026, working-class homeowners and landlords faced surging tax bills. 3. Landlords Passing the Buck Because the tax hike increased the cost of owning property, landlords across Davidson County did what they always do: they factored the higher tax bill directly into their tenants' monthly payments. This wiped out any affordability gains that should have come from the broader housing market cooling off. This is where the city brought in Hal Cato to "fix" the affordible housing. Hmmm (more to come...)