Savannah Over River

Trend Report: Savannah’s Economy in 2024

It’s always interesting to observe economic trends, and this is especially true when it comes to hyper-local economies. In the case of Savannah, a path of economic growth and innovation has been weaving its way through our communities for some years. In 2024, this exciting evolution will only continue, with expansions and ongoing investments that are sure to drive Savannah’s economy ever forward. We took a close look at Savannah Area Chamber’s Savannah 2024 Economic Trends brochure, and we’re sharing a few of our favorite takeaways!

Hyundai Motor Group’s Metaplant America

The construction of this $5.5 billion electric vehicle and battery plant promises to revolutionize the industrial landscape. And it’s all happening within Savannah’s economy. Not only will this create local jobs and bring monetary flow into the city. It will also position Savannah as a leader in sustainable technologies. Who knows? We may see more facilities like this one from the foremost organizations in tech, innovation, and consumer needs.

Georgia Ports Authority Expansion

The Georgia Ports Authority continues on its mission to enhance capabilities. According to the brochure, “Current and long-term expansions are projected to increase the Port of Savannah’s capacity by 60 percent, growing from 6 million TEUs to 9.5 million TEUs by 2025.” This is an obviously major boost for Savannah’s economy! It reinforces our place as a global hub for trade.

Flourishing Tourism

Savannah Tourist

With its rich historical heritage and cultural vibrancy, Savannah has long been a beloved destination for vacationers and second homeowners alike. We here at Upper East River often hear about this from our residents and potential buyers. They love the charm of this place, and many are visitors turned full or part-time locals. Savannah Area Chamber notes how the numbers reflect this reputation, stating, “The [visitor-serving hospitality] sector’s forecast is encouraging for 2024 and the longer term as new product is added at both the western and eastern end of the Savannah riverfront district.”

Hi there, that’s us! Specifically, the brochure talks about our neighbors at Plant Riverside District, and we can’t say enough wonderful things about all of the food, entertainment, shopping, events, and more they are bringing to our hometown. We love being within walking distance of this everything hot spot. And we’re honored to be part of keeping Savannah’s economy thriving. Speaking of …

Real Estate Renaissance

With so many historic renovations happening alongside fresh new developments that suit the character of our fair city, Savannah’s real estate scene is thrilling at the moment. And of course, Savannah’s economy is benefiting from this. Median sale prices are expected to increase by 7% to 10% in 2024. And, we aren’t the only new development slotted to continue bringing new residents into our economy. Of course, we are biased and think our neighborhood is one of the best places you could settle in to enjoy all Savannah has to offer!

Upper East River and Its River Homes

Upper East River | River Homes

If that is indeed something you’ve been seeking—a home base to enjoy the Hostess City—we’d love to chat about our available River Homes. We currently have several on the market, and they are some of our most stunning spaces. Designed to pay homage to the elegant architectural trends of old classics and complete with carriage homes that are perfect for a guest retreat or rental, these townhomes are breathtaking. Take a closer look at the three available residences:

408 Geo Meyer Avenue

412 Geo Meyer Avenue

416 Geo Meyer Avenue

And if you’d like to discuss further, feel free to get in touch with one of our fabulous agents!

Denise “Dee” Stamps-Auston
Sales Manager
404-388-9580

Mandy Evans
Sales Associate
770-490-8967

Conclusion

Savannah’s economy in 2024 presents a compelling narrative of growth, innovation, and enhanced quality of life. To experience it all as it comes, consider starting a new chapter at Upper East River.

Share this post

Upper East River
Neighborhood Guide

Download this 18-page guide and get the inside story on downtown Savannah’s newest – and last – riverside neighborhood.

  • This field is for validation purposes and should be left unchanged.
Guide to Upper East River in Savannah, GA

© 2024, Patrick Malloy Communities, All Rights Reserved.

Read the Property Report before signing any documents. No federal agency has judged the merits or value of this property. This print ad is not an advertisement or solicitation to purchase or sell property in states where prohibited by law. Site plan and descriptions are subject to change without notice. Renderings are for illustration purposes only, not intended to portray exact layouts, dimensions, or details.