More than six in ten Nashville area residents said jobs in Middle Tennessee are "hard to find," the report said. More consumers are hesitant about making large purchases, suggesting they could be taking a "cautious approach to spending in the event of even more economic tough times ahead," said Timothy Graeff, director of The Office of Consumer Research.
"This steady decline in confidence began in September of last year and shows little sign of a quick reversal," Graeff said in his report.
The overall consumer confidence index dropped to 53 this month, down 30 points compared to December 2009, based on consumer perceptions on the current economy, their expectations for the future and their believe that now is not a good time to make large purchases. The index is based on a poll of 200 adult residents of Davidson, Rutherford and Williamson counties. The poll, made up of 11 questions, was completed on Tuesday.
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