Knoxville economy bouncing back

4:06 PM, Mar 28, 2012   |    comments
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Knoxville's economy is bouncing back from the recession faster than many other major metro areas, according to a new report from the Brookings Institution.

Among the top 100 metro areas in the U.S., Knoxville places in the top 40. Nashville ranks in the top 20.

To come up with this ranking, the Brookings Institute tracked economic growth since the recession ended.

On of Knoxville's big strengths is job growth. Post-recession, we've seen a 3.4 percent increase, the 16th highest among the top 100 metros.

Knoxville's also turning out more goods and services.

Our gross metropolitan product, everything Knoxville's economy produces, rose 7.4 percent. That's the 29th highest growth.

But one area is holding the Knoxville economy back--housing prices.

We've only seen a 1.1 percent increase during the recovery. That puts Knoxville at 58th. During the end of last year, there was only a .2 percent increase, with a rank of 80.

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