Tennessee’s 2023 GDP Outpaces National Average, But Growth Remains Concentrated

The state’s gross domestic product grew by 3.2% in 2023 compared to the national average of 2.5%.

Image Credit: wilsoncountytn.gov

By Adam Friedman [The Tennessee Lookout -CC BY-NC-ND 4.0] –

Tennessee’s economy continues to outpace the national average in gross domestic product growth, data released the Bureau of Economic Analysis a month ago shows.

Since 2017, Tennessee’s GDP in real dollars has grown at a 3% yearly average compared to the United States average of 2.2%.

But, that growth is not equal, as 30 counties within Tennessee grew faster than the state average. Wilson County has led the way over the past five years, with its economic growth around 6% each year.

This follows a trend in Tennessee, which has seen much of its economic growth in the past decade concentrated in Middle Tennessee, particularly in Davidson County, home to Nashville and its surrounding counties.

Tennessee’s more rural West Tennessee counties continue to lag. Since 2017, 10 county economies have shrunk, and half were in the western grand division.