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Business

Consumer survey says: Time to buy a car?

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Volkswagen
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MURFREESBORO, Tenn. (WMOT)  --  A report out this week shows that mid-state consumers are feeling increasingly confident about the local economy.

Dr. Tim Graeff of Middle Tennessee State University says the latest Middle Tennessee Consumer Index rose 23 points to 226.  He says the index has now scored above 200 for two consecutive quarters, something that hasn’t happened since before the economy crashed in 2008.

Dr. Graeff says the survey results indicate mid-state residents are in the mood to buy, good news for local retailers as we head into the all-important holiday shopping season. He says car dealers will be especially pleased with the numbers.

“A significant increase in the number of people who are now saying it’s a good time to buy a car, which makes sense because we’re approaching the end of the year and typically at the end of the year car dealers have their clearance sales and they’re wanting to get rid of their inventory.”

Dr. Graeff says on the down side, Middle Tennesseans are far less confident about the future of the broader national economy. He says ongoing conflicts in the Middle East and the standoff with Russia over Ukraine is giving consumers pause.