May is one of the few times that one of the most important pieces of the local and U.S. economies is formally recognized. Small Business Month’s goal honors the entrepreneurs who bring growth to our economy and sustain it. That has special significance for Realtors®. It’s special because they’re a big part of the small business community.  

The most current Census lists 92 real estate firms in the Greeneville, Johnson City, and Kingsport-Bristol metro areas that are agents or brokers in selling or buying or renting real estate for others. Those firms have 205 employees. Their annual payroll is $7.3 million in the latest report. The Greeneville payroll number was not reported for privacy reasons.  

But that’s only the tip of the iceberg in this story. The biggest segment of the real estate small business story is the agents. Most are independent contractors. The IRS describes them as nonemployee businesses, and there are a little more than 4,412 of them in the Tri-Cities.  

Locally, this segment of real estate professionals accounts for a little better than 10% of the region’s workforce.   

As eye-popping as the Census numbers are, it’s not a real-time picture. The current Census totals are from 2023, and the ranks of agents have increased since then.  

Not all real estate agents are Realtors®, but the number of Realtors® is a good benchmark to gauge the big picture. Typically, the number of Realtors® declines when the market softens. But so far that hasn’t happened here in the Tri-Cities. The Northeast Tennessee Association of Realtors (NETAR) membership roll keeps increasing. 

 Sixteen new members completed their orientation last week. Currently, the association has 1,866 members. 

Realtors® are involved in almost all real estate transactions, and according to a Realtor.com survey the average mover spends almost $20,000 setting up their new home. Applied to the number of new households in 2025, that’s a cool $76 million. The actual economic impact is higher when you factor in all the variables the National Association of Realtors® (NAR) Research Dept. uses in its economic impact study.  

Local residential sales alone had a volume of about $2.5 billion last year. Sweep in the economic multipliers identified by NAR’s researchers and the total balloons by almost another $1 billion. And that doesn’t include vacant land sales, commercial real estate transactions, or deals that were not listed on the local Multiple Listing Service (MLS).  

Overall, real estate accounts for about 15% of the state and local economy, and almost all the heavy lifting is done by firms with fewer than five employees and all those agent nonemployee businesses.  

The region’s economy is seeing stable economic and population gains. Small businesses and real estate are a big part of those gains. NETAR was the first local organization of its kind that recognized, embraced, and employed the economic benefits and efficiencies of regionalism to market real estate and represent its members. It has a 30-year record of successes. 

May is a fitting observance because small businesses are important. They provide opportunities for entrepreneurs and create meaningful jobs with greater job satisfaction than positions with larger, traditional companies. They foster local economies, keeping money close to home and supporting neighborhoods and communities. NETAR and its members are proud to be part of that dynamic.