Nashville nonprofit helps musicians, creatives buy homes

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NASHVILLE, Tenn. (WSMV) – A Nashville nonprofit that helps musicians and service industry workers afford homes is looking for funding to continue its mission.

Nashville Industry Fund (NIF) founder Stephanie Eatherly said homeownership is crucial for musicians’ stability.

“We’ve seen so many musicians be able to just flourish in their careers by homeownership.”

The organization offers free home-buying and financial advising classes, credit repair assistance, and access to real estate professionals. Eatherly said it’s important to keep musicians in the city: “Creating generational wealth is so important, especially in a musical family. Nashville’s musical history has to be maintained.”

NIF offers down payment assistance in the form of $6,000 given to a recipient each quarter. Their ultimate goal is to offer it to everyone who qualifies, Eatherly said.

“A lot of our musician friends have told the story of homeownership and how it’s helped them,” she said, “whether they’re on tour and their roommates can help out with the house, with the rent price, with their mortgage if they’re out of town.”

Nashville-based singer-songwriter Kenny Sharp says he relocated to Music City for the unique opportunity it offers. “In a lot of other cities, it can seem like, ‘Oh, you’re a dreamer,’” Sharp said. “Nashville gives you the opportunity to have both the dream and the reality.”

Sharp’s sentiment reflects a larger effort within the city to support its music and service industry workers through initiatives like the NIF. The nonprofit aims to help musicians and service industry workers afford housing, ensuring they can maintain careers in the city known for its musical history.

According to Eatherly, affordability remains one of the greatest challenges for musicians living in Nashville. “We were just part of the Greater Nashville Music Census that interviewed over 4,000 musicians, and they said the greatest need in the city is affordability,” she added.

Further, according to the same census, the music and hospitality sector brings in over $9 billion to the local economy. Nashville ranks highest in the nation for total workforce size in the music industry, yet ranks no. 37 nationally for arts funding.

“It’s not just musicians. We also help hospitality workers,” Eatherly said. “So if you’re a bartender, a server at a venue, or even a door guy, someone who runs sound, a photographer, a designer who designs within the music industry – as long as you touch what people think of as Music City, we want to be able to help you.”

Now in its third year, the nonprofit receives about three applications each month and was awarded its first grant last month. Sharp, who currently balances his music career with bartending, says he’d be eager to apply. “Organizations like this are why I moved here because they help support and make it easier for you,” he said.

While Sharp says his financial situation is stable, homeownership would provide him with lasting security. “The community here supports the musician, and the fact that we’re even having this conversation shows people are aware of it and there are solutions being put in place,” he said.

NIF relies on donations and community support to continue its work.

Its annual fundraiser is Oct. 3 at 3rd and Lindsley, starting at 7:30 p.m. Click here to buy tickets to the benefit concert. If you’re unable to make it but still wish to support the NIF, click here to donate.