By the middle of 2022 full economic recovery in Tennessee has a positive outlook according to the University of Tennessee after presenting its annual economic report to Gov. Bill Lee outlining what we can expect for the future. The report reveals the underlying causes of labor shortages and rising prices.UT research professor Larry Kessler calls 2021 “a year of recovery.” In the economic report to the governor, his team said Tennessee has returned to a GDP equal to before the pandemic.