Sarah Hardee, Office Managing Director, UHY
Sarah Hardee, office managing director of the certified public accounting firm UHY, sat down with Invest: to discuss recent mergers and acquisitions, why companies are choosing to move their businesses to Nashville, and how AI and other technological advancements can be used to increase efficiency throughout the industry.
What changes over the past year have most impacted your clients’ business strategies in the Nashville market, and how is UHY helping them adapt?
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.
What do you see as your biggest milestones so far in leading the Nashville office, and how do they align with UHY’s broader vision for growth?
In 2025, we were named a Top 25 firm. Our firm has been growing at a fast pace and that includes our office here in Nashville. We pride ourselves on offering the next level of service to all of our clients. As the cost of doing business increases due to salaries, AI and information technology, it is important to make sure that we are offering our next level of service at market rates. Many of our competitors are around the same price as us. We have noticed an easing of the labor market, which tells us that we are in alignment with our competitors when it comes to salaries as well. In our first two years in Nashville, UHY has grown 21% and we’re on pace for the same growth rate for 2025.
How do regional trends, such as population growth, workforce shifts, or industry diversification, influence how you support clients across sectors?
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.
With so many industries facing supply chain challenges, regulatory shifts, and talent shortages, what emerging risks or opportunities are top of mind for your clients?
There are many opportunities to use AI for logistics and forecasting. We have a consulting office in Atlanta that does a lot of software consulting for our clients. We have been working to find AI software to improve efficiency in their workflow. This forecasting element is highly important when it comes to the supply chain and can help predict whether or not deadlines can be met on big contracts. The passing of the recent One Big Beautiful Bill (OBBB) provides a tax planning opportunity for our business and individual clients. Specifically, modifications to the research & development tax credit, the availability of 100% bonus depreciation, and adjustments for how interest is deducted for large companies will be huge opportunities for our clients. It’s likely that some of the higher-profile features of the OBBB for individuals, like “no tax on tips,” deductions for certain taxpayers on Social Security, and no taxes on “overtime” will be less impactful to our clients than perhaps we originally thought. We feel this is one of the most valuable services that we can provide, and we will start the planning process much sooner this year than in the past.
What strategies are you seeing successful organizations adopt to attract, retain, and grow talent right now?
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.
What trends are you watching in public-private partnerships and infrastructure spending that could create opportunities or challenges for clients across your region?
Mergers and acquisitions in private equity are creating significant opportunities for our clients. Historically, certain industries have not received substantial investment, but with this new capital, they can now invest in AI and improve efficiency. PE is getting into industries as never before – like the “trades” (contractors, HVAC, etc.) and professional services (CPA firms, etc.). Everyone seems to be looking to gain access to new markets and gain economies of scale in their M&E activity. With the passing of the One Big Beautiful Bill (OBBB), we have a clearer picture of the federal government’s budget for the foreseeable future, which may free up capital that is sitting on the sidelines. As construction companies continue to merge, it may simplify the landscape. There will not be as much noise with only large construction companies using subcontractors in the area. The ability to negotiate as a large primary contractor is key, which is true both nationally and globally. You need size and resources to be able to negotiate. Private equity is providing the resources for companies to achieve that scale.
I’m glad they are coming to Nashville. We need local work to keep our economy booming. There are likely going to be challenges for smaller mom and pop shops. When you have these acquisitions, they tend to create big corporations and small mom and pops, leaving not a lot of room in the middle. It can be frustrating for those companies in the middle, but there is a lot of opportunity in Nashville to combine forces and take a company to the next level.
Looking ahead three to five years, what are your top priorities for the Nashville office and how do you see UHY continuing to evolve?
We are getting ready to move to a new office here in Cool Springs at the Meridian Office Park. It is an upgrade in space and will provide our employees with a very walkable area in their downtime. We are making a point to be in an area with yoga studios, healthy food options, and the ability to get up and move. We are in an industry where you do a lot of work from a desk, and we are making a lot of moves to ensure our employees are healthy and happy. We are doing simple things inside the office, like having sit/stand desks. We are also focused on making sure we are serving the whole client. We aren’t just a run-of-the-mill CPA firm doing taxes and bookkeeping. UHY has expertise in a variety of services that businesses need, such as mergers and acquisitions representation, cost segregation studies, and valuation.
