NASHVILLE, TN (WSMV) – A new report shows Nashville experienced the biggest drop in consumer spending from COVID-19 compared to other major cities.
News4 spoke with Michael Schoff who work at Big Time Boots on Lower Broadway. He remembers what it was like before the coronavirus.
"Wall to wall people going up and down the street,” Schoff said.
The Opportunity Insights Economic Tracker looks at how COVID-19 is impacting the country.
From the time the virus hit the United States in January to April 30th, the study said consumer spending plummeted 46.3% in Nashville.
Boston, Miami, and Washington, D.C. saw the next largest hits.
Vice President of Research for the Nashville Area Chamber of Commerce, Rupa DeLoach, said it doesn’t give the full picture.
“You really need to look at this data with a grain of salt,” DeLoach said.
In the report, Affinity Solutions put together the data from businesses like credit card processors. It’s different from the chamber’s economic models using unemployment claim numbers.
"Our decline has been on par with other major metropolitan areas within the country. Ultimately, I think you have to look at the strength of our economic landscape, the diversity of businesses and industries we have,” DeLoach said.
DeLoach said it’ll likely be toward the end of next year before Nashville gets back to what it was before the coronavirus.
"We'll get back to it, but it's just slow right now and it'll come back pretty soon,” Schoff said.