Face Off: Nashville’s growing demand for CPAs and accounting firms

Writer: Pablo Marquez

October 2025 — As one of the fastest-growing metropolitan areas in the United States, Nashville has become a hub for small businesses, entrepreneurs, and large corporations alike, driving the need for reliable Certified Public Accountants (CPAs) and accounting firms. 

According to the 2024-2025 Annual Report by the Nashville Area Chamber of Commerce, the city has experienced rapid economic growth over the past decade, with an expanding business environment fostering a diverse array of industries that rely heavily on accurate financial reporting, tax planning, and compliance. This has paved the way for Nashville’s accounting firms to offer specialized services ranging from tax advisory to audit and forensic accounting.

As Nashville’s economy grows, the role of CPAs becomes even more critical. The American Institute of CPAs (AICPA) highlights the importance of accounting professionals in ensuring financial transparency and stability for businesses, non-profits, and government entities. Nashville, with its thriving healthcare, education, and tourism sectors, relies heavily on skilled accountants to navigate the complex financial landscapes these industries present. A growing number of accounting firms in the area now offer services that go beyond traditional tax filing, such as strategic financial planning, mergers and acquisitions (M&A) consulting, and international tax compliance.

To delve deeper into the trends that are currently shaping the accounting industry in Nashville, Invest: met with Jim Schmitz, market leader for Nashville at Elliott Davis, and Sarah Hardee, office managing director for Nashville at CPA UHY. Their insights highlight why Nashville is a great business hub, how they are using data and technology for proactive client solutions, while also addressing how CPAs are retaining talent in a competitive market.

From your perspective, what makes Nashville an attractive place to do business?

Schmitz: Nashville retains its “can-do” attitude, which has been a defining characteristic for years. While no place is perfect, the collaboration between the mayor’s office and the Chamber of Commerce has been strong, with the current administration actively engaging the business community. Another key advantage is our regional mindset. Unlike other areas where counties compete for economic development, Nashville and the surrounding counties work together, recognizing that a rising tide lifts all boats. Companies often remark that this level of cooperation is rare elsewhere. The synergy between nearby counties is uncommon and fosters a thriving environment where everyone benefits. For instance, if a major company comes here, Metro Nashville might not be the best fit, but nearby counties are great options. Regionalism, where you do not have a county battling with ours for economic development, and cooperation makes Nashville a great place to be.

Hardee: The Middle Tennessee market continues to grow as new national companies come to town. This is affecting counties other than Davidson County. Many of the C-suite executives of these companies settle in areas surrounding Nashville. We are fortunate to have great schools here in Williamson County and it is ranked among the nation’s best. However, as people and companies come to Nashville, we are noticing more congestion, and there are more residential buildings being built downtown.There are growing infrastructure needs, both housing and transportation, and there are many projects that are currently in the works. People are coming to Nashville because we have a great standard of living that is not as expensive as some of the other coastal areas in the country, as well as a large, thriving workforce. Nashville offers a readily available workforce, from executives to line workers, already established within the community for incoming companies.

How are you leveraging data and technology to deliver more proactive and predictive solutions to your clients?

Schmitz: Our broad-based expertise allows us to integrate multiple specialties, such as international, private equity, and healthcare, into a cohesive approach. We utilize our data, experience, and resources to guide clients through complex processes, such as preparing a company for market, executing transactions, and managing post-transaction integration. Many business owners lack experience in these areas, so our ability to provide end-to-end support is a major advantage for them and allows them to remain focused on their business.

Hardee: We are using a lot of AI to support our analysis of financial statements in various industries so that we can assist our clients in benchmarking themselves against their competitors. We continue to see an insulated economy in Nashville. As we see drop-offs in other areas across the country, we do not necessarily see those here in Nashville. Rather, those drop-offs tend to serve as an early heads-up for us. We have clients in the trucking industry, which is usually a good indicator of the overall economy. We are noticing a bit of a slowdown in people purchasing those trucks.

How are you retaining talent in such a competitive professional landscape?

Schmitz: From a broad workforce standpoint, I think the state and local governments have implemented many initiatives to increase the number of appropriately trained adults. As the environment evolves, with AI advancements and shifting job skill requirements, we are doing a good job of addressing those needs. Ensuring proper training is essential to meet the demands of the job market. Without that foundation, attracting talent becomes much harder.

Hardee: Salary, benefits, the ability to work a hybrid schedule, and flexible time off models play a big role in employee satisfaction. We recently switched to a flexible time off model as opposed to the accumulation of paid time off. There is no cap on time off for our exempt employees. They are still expected to have time off approved through their managers, and we have to work around busy seasons or special projects; however, this does give our employees more flexibility. It’s more than just the benefits. Having a culture where we show (not just say) we care about the whole employee is part of our success.

Want more? Read the Invest: Nashville report.