By David Sher

I think I have a pretty good handle on what is happening in Birmingham.

I’ve been writing ComebackTown for nearly 15 years, talking with business leaders, public officials, and people involved in economic development.

But something Senator Tommy Tuberville said recently at a prominent Birmingham civic club meeting caught me completely by surprise.

Birmingham’s Financial Comeback?

Tuberville was talking about Birmingham’s once-prominent position as a financial center and how Fannie Mae’s planned relocation from San Francisco might help bring it back.

Fannie Mae isn’t just another financial institution. It buys mortgages from lenders, helping make more money available for home loans across America.

Last December, Tuberville announced the relocation of Fannie Mae’s San Francisco office to Birmingham. According to WBRC’s original report, the new Birmingham office was expected to open in early 2026, with the move beginning in the first quarter.

That was exciting news. Birmingham has a proud banking history, and more professional jobs would be welcome. But as the months passed, I heard little about the move.

Then came Tuberville’s October 14 Birmingham civic club announcement.

“This used to be the financial capital of the South. Birmingham, Alabama. I’ll go back. Used to be. We’re bringing it back.”

Then came the statement that really got my attention:

“They’ve already got 100 people here or so. They’re building. They got a temporary place here downtown. They will be here permanently.”

And he added:

“It will be a multi-million dollar project, which is going to really help downtown Birmingham. We want downtown Birmingham to explode.”

One hundred people? Already here? A temporary downtown office? A multimillion-dollar permanent investment?

How could I have missed something so significant?

So I Started Asking Questions

I wanted to learn where the temporary office was, how many people were working here, and what was planned for a permanent facility. After all, the projected early-2026 opening was now months behind us.

I searched for reports of an opening, a downtown address, or a staffing announcement. I couldn’t find answers.

I emailed Tuberville’s communications director, called his Washington office, and emailed again. I received no response.

I also contacted Fannie Mae. After unanswered emails, I called its media representative and left a message. He finally replied:

“Hi, David. Apologies for not getting back to you sooner. We politely decline to comment.”

I wasn’t asking for trade secrets. I simply wanted to understand what sounded like wonderful economic development news for Birmingham.

As of this writing, I haven’t independently verified the approximate 100-person figure, found a confirmed address for the temporary office, or learned the location and timing of a permanent facility.

That doesn’t mean Tuberville was wrong. It means the details remain unconfirmed.

Let’s Make the Most of This Opportunity

If Fannie Mae already has around 100 people working in Birmingham, that’s terrific. If a permanent multimillion-dollar downtown investment is coming, that’s even better.

Our region needs more high-paying financial and professional jobs. We should be asking how Fannie Mae’s presence—whatever its current size—could help us attract more.

I hope we soon have facts to celebrate: jobs filled, investment underway, and a permanent office with room to grow.

Birmingham doesn’t just need promises of becoming a financial powerhouse again. We need the jobs, investment, and opportunity that will make it happen.

David Sher is the founder and publisher of ComebackTown.  He’s past Chairman of the Birmingham Regional Chamber of Commerce (BBA), Operation New Birmingham (REV Birmingham), and the City Action Partnership (CAP).

Care about Birmingham’s future, sign up for ComebackTown newsletter

Invite David to speak for free to your group about how we can have a more prosperous metro Birmingham. dsher@comebacktown.com