Tennessee State Facts & Information

As of July 2024, Tennessee's population reached 7,227,750 people, representing a 1.1% increase of 79,446 residents from the previous year. The state has experienced steady growth, though the growth rate has slowed from 1.4% in 2022 to 1.2% in 2023 and 1.1% in 2024.

Bill Lee is Tennessee's 50th governor, serving since January 19, 2019. He was re-elected to a second term in 2022, with his current term ending on January 16, 2027. A seventh-generation Tennessean and Republican Party member, Lee previously served as president of the Lee Company, a mechanical contracting and home services company founded by his grandfather.

Tennessee's nominal GDP in 2024 was $561.2 billion, with a real (inflation-adjusted) GDP of approximately $440.2 billion. The GDP per capita reached $59,806, up 1.3% from 2023, ranking 31st among all states. The manufacturing industry is a major contributor with $57.7 billion, while finance, insurance, and real estate leads with $74.5 billion in value added.

Nearly all of Tennessee's population gains in 2024 came from net migration. The state netted 48,700 new residents from domestic sources and 27,650 from international migration. Natural population increase contributed modestly with 3,358 people, as births (83,233) slightly exceeded deaths (79,865). Changes in international migration estimation methods also contributed to the reported growth.

Nashville is the capital city of Tennessee and also serves as the state's largest city. Known as "Music City," Nashville is a major center for the music industry, healthcare, education, and finance. Davidson County (Nashville) added the most population in Tennessee during 2024, with international migration adjustments playing a significant role in its growth.

Tennessee's economy is diversified with strong manufacturing, healthcare, and information sectors. The information industry showed the strongest growth, with 2024 GDP 2.2 times higher than 2014. The state has the second-lowest state and local tax burden per capita, no income tax on wages, and ranked eighth for lowest cost of living in 2023. Manufacturing employment concentration is 1.35 times the national average.

According to projections from the Boyd Center for Business and Economic Research at the University of Tennessee, Knoxville, Tennessee's population is expected to reach 7.94 million by 2040. This represents continued growth driven by both domestic and international migration, though at a moderating pace compared to the strong post-pandemic gains of 2022.

Davidson County (Nashville) added the most population in 2024, outpacing Rutherford County for the first time since 2015, largely due to international migration adjustments. Meanwhile, Shelby County experienced the nation's largest population decrease in 2024. The growth pattern shows continued urbanization, with metropolitan areas gaining residents while some rural counties face population challenges.