Tuesday, July 30, 2013

Tennessee's Commercial Market for Ruud HVAC Products Grows 19% in Last Two Years  

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Ruud’s annual report of regional shipments and sales for its commercial products recently showed 19% sales growth for the brand in Tennessee from 2010 to 2012, which is the highest in the Southeast by 6%.

Additionally, Tennessee ranked second, behind Florida, in the three-year average of commercial shipments of quality Ruud HVAC products. Tennessee moved an average 14,598 units from 2010 to 2012, or 16 percent of the total Southeast distribution area.

Florida had the highest average shipments, claiming 31 percent of the total market, followed by Tennessee, Georgia (15 percent) and North Carolina (13 percent).

It’s impressive that Tennessee represents such a significant, growing chunk of Ruud commercial shipments. Considering that Tennessee’s adult population is much smaller than many of our peer communities, you’d think that commercial construction in states like Georgia and North Carolina would be higher than Tennessee, which doesn’t appear to be the case. Companies are investing in Tennessee’s workforce. They’re building and expanding their headquarters and purchasing more Ruud HVAC equipment.

According to the U.S. Census Bureau, Tennessee’s adult population is roughly 33 percent smaller than both Georgia and North Carolina. In 2012, the Tennessee Department of Economic and Community Development announced major corporate expansions and/or relocations, including Nissan (Smyrna), Nike (Memphis), Oberto Brands (Nashville), Agero (Clarksville), HCA (Nashville) and Tractor Supply Co. (Brentwood), among others.

Ruud’s report also revealed a three-year upward trend of commercial shipments within Tennessee. South Carolina was the only other state to show positive year-over-year-over-year growth.

The statewide statistics certainly mirror Comfort Supply's trend as a Ruud distributor. For example, in 2011, our commercial sales grew roughly 40% year over year.

The states included in the assessment were Alabama, Florida, Georgia, Kentucky, Mississippi, North Carolina, South Carolina and Tennessee.

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