The state of Tennessee experienced lower unemployment in April, according to newly released data from the Department of Labor and Workforce Development. It is the second consecutive month the statewide jobless rate has dropped.

The April 2023 seasonally adjusted rate came in at 3.3%, 0.1% lower than the previous month and 0.1% away from the state’s all-time lowest unemployment rate of 3.2%.

In a year-to-year comparison, the state’s new unemployment rate was unchanged from April 2022.

Tennessee employers added 2,000 new nonfarm jobs to the state’s workforce between March and April. The education and health services sector accounted for most of the new jobs during the month. The government sector and the manufacturing sector added the next largest number of jobs to the state’s economy.

Between April 2022 and April 2023, the number of new nonfarm jobs in Tennessee grew by 90,000 positions. The leisure and hospitality sector reported the largest amount of growth during the year. The education and health services sector had the next largest increase, followed by the government sector.

Nationally, the seasonally adjusted unemployment rate dropped from 3.5% in March to 3.4% in April.

RE/MAX: April sale decline tells many stories

The seasonal ramp-up to peak summer homebuying did not occur in April as closings dropped 7.6% from March across the report’s 49 metro areas. That came as the Median Sales Price rose 2.3% to $409,000 month-over-month and inventory inched up 1.8% over the prior month.

The number of home sales typically increases every month from February to June. But April posted a decline despite a month-over-month increase in new listings of 5.6%. Year-over-year, April sales were down 29.5% while new listings were 22.1% lower.

“The data tells a story, but it’s just one side of the story,” says RE/MAX, LLC president and CEO Nick Bailey. “Sales may be down across the U.S. as move-up buyers, who like their current mortgage rate, choose to stay in their homes. But first-time homebuyers are active and those entering the market have an edge as sellers are negotiating more and giving buyers a chance.”

Nashville led the 49 metro areas surveyed in year-over-year new listings percentage increases at 3.6%, followed by Trenton, New Jersey at +3.1% and Philadelphia at +1.1%. Across those metros, the number of newly listed homes increased 5.6% compared to March and decreased 22.1% compared to April 2022.

Other notable metrics:

• The median sales price has increased 6.2% since January after dropping 9.6% the previous seven months.

Months’ Supply of Inventory in April was 1.3, unchanged from March but above the 1.0 a year ago.

April’s average close-to-list price ratio was 99%, meaning that on average, homes sold for 1% less than the asking price. A year ago, it was 103%.

• Homes sold in April were on the market for an average of 33 days – six days less than March but 10 days longer than a year ago.

Bridgestone rolls out new EV-specific tires

Bridgestone Americas has debuted its new Turanza EV grand touring tire, the company’s first-ever replacement tire designed specifically for premium electric vehicles and the first to feature Bridgestone ENLITEN technology.

Launching immediately at tire retailers nationally, the new Bridgestone Turanza EV grand touring tire was purposefully designed to account for the unique vehicle dynamics of EVs, providing excellent tread life, minimal ride noise and confident wet handling to complement the electric vehicle experience.

Designed, developed and manufactured in North America, the initial five sizes include fitments for Tesla Model 3, Model S, Model X, Model Y and Ford Mustang Mach-E, with 13 additional sizes launching in early 2024.

The Bridgestone Turanza EV tire is the first replacement market tire in North America to feature ENLITEN technology, which is engineered to help optimize all-season performance, provide longer wear life, and allow for the incorporation of renewable and recycled materials in its tire products.

Vanderbilt to launch electric shuttle program

Electrada, an electric fuel solutions company, announced Vanderbilt University continues to reduce its carbon footprint through Electrada’s complete electric fuel solution, leading to the private research institution’s VandyRide shuttles fleet’s transition to all EVs.

With the electric VandyRide shuttle buses in service for the Fall 2023 semester, Vanderbilt continues to contribute to its carbon neutrality.

“Vanderbilt is committed to lowering its carbon footprint, so switching to electric vehicles in our shuttle fleet is a top priority,” says Lindsay Ganson, assistant director of mobility at Vanderbilt University. “We’re so excited to have our shuttles in action before the fall semester begins and are looking forward to working with Electrada on our electric fuel needs.”

Electrada’s 360 Charging-as-a-Service (CaaS) offers fleet operators across multiple vehicle classes and sectors a fully capitalized and performance-contracted electrification solution that simplifies the transition to electric vehicles. This unique approach to fleet electrification provides a predictably priced contract that eliminates the upfront capital investment, technology and energy cost risks that often prevent organizations from adopting a robust EV program.

Key to Vanderbilt’s decision to launch its electrification strategy was the collaborative approach provided through Electrada’s partnership with Holman, a global automotive service organization, which provides EV fleet management to Vanderbilt. Holman and Electrada have previously provided integrated electrification solutions in the logistics and telecom sectors, where like at Vanderbilt, asset performance and predictable electric fuel pricing are critical factors.

New Clarksville solar farms online by December

CDE Lightband, Tennessee Valley Authority and Silicon Ranch, one of the nation’s largest independent power producers and a community-focused renewable energy company, broke ground last week on two solar farms totaling 6.75 MWAC in Clarksville, Tennessee.

Clarksville has experienced historic economic growth over the past decade and with it a rapidly growing population. These two solar projects will generate enough reliable, low-cost energy to help serve more than 1,000 households annually.

The event celebrated the groundbreaking of both the 2 MWAC Solar Band: Red Array and the 4.75 MWAC Solar Band: Orange Array. The event was hosted at the larger Solar Band: Orange Array. Both solar farms are expected to be fully operational and deliver energy to the Clarksville community in December 2023.

“CDE Lightband prides itself on reliability and connectivity. Our customers expect nothing less. These solar farms will help us improve the resiliency of our services without increasing costs, all while helping Clarksville attract additional businesses to the area,” says CDE Lightband general manager Brian Taylor. “I am proud of this partnership with TVA and Silicon Ranch and the collaboration from each organization to make this possible.”

TVA and CDE Lightband partnered with the city to help it achieve ambitious infrastructure goals to meet the needs of a growing population. This includes installing fiber cables, and opening access to renewable energy with the goal of attracting more businesses to the Clarksville area.

Poll: 1-in-4 TN parents worried about depression

The latest analysis of the 2023 Tennessee Child Health Poll, released during National Mental Health Awareness Month, has found that roughly 29% of Tennessee parents are concerned their child has undiagnosed anxiety or depression.

The poll, fielded in the fall of 2022 by researchers at the Vanderbilt Center for Child Health Policy, also found more than 30% of parents polled said their child had been diagnosed with attention deficit hyperactivity disorder, anxiety or depression, a 7% increase since the question was first asked in the annual poll in 2019.

“The mental health of kids in Tennessee is suffering, and parents are increasingly concerned,” said Heather Kreth, associate professor of pediatric psychology and a member of the Center. “The number of children I treat who are suffering from severe depression, anxiety and thoughts of self-harm or suicide has been steadily increasing in recent years. Suicide remains the second leading cause of death for teens and young adults nationwide.”

In total, more than 20% of parents reported concerns their child had undiagnosed anxiety, nearly 14% said they were concerned their child had undiagnosed depression and more than 11% were concerned their child had undiagnosed ADHD/ADD.

In 2019, before the COVID-19 pandemic disrupted the lives of children and families across the state, 14% reported concerns about undiagnosed anxiety, and less than 7% reported concerns about ADHD/ADD.

The findings are the latest to be released from the annual poll that covered a wide range of issues impacting Tennessee parents and kids from online bullying, school firearm violence, food security and insurance status.

Belmont data group announces next project

Fresh off its first community project focused on hypertension in Nashville, the Belmont Data Collaborative (BDC) announced the launch of Project WELL, a new health equity initiative focused on addressing mental health concerns in young Nashvillians.

In partnership with community funding from CaringWays, a trusted crowdfunding platform for healthcare-related expenses, BDC’s role in the initiative will focus on using data to identify populations across Nashville who have the greatest need for mental health care resources. This data will then inform the deployment of resources, with help from nonprofit partner Accessia Health, to support Nashville’s greatest needs.

Wes Sellers, CaringWays co-founder and CEO and Belmont alumnus (MBA, ‘07), connected with BDC executive director Charlie Apigian last year after hearing about the Data Collaborative’s successful hypertension project.

Project WELL is now underway, with a goal of $1.2 million raised to support and provide mental health care, reduce stigma and generate awareness.

“When you align big data and big dollars, you have the ability to convene people and move toward action, which leads to longitudinal effects,” Sellers says. “We have big partners on board for this project, focused on speaking against the stigma of mental health and raising awareness through storytelling. Data, funding and smart philanthropic partnerships are the three legs of the stool, and we are excited to have these elements in place to make this project successful.”