The worst hit parts of town will be 'down' for about 6 months or so as the drywall & mold are taken care of.
Some people had mild flooding, so many have had 5' or more of water in their homes. I suspect it will take those 'hoods much longer to come back to 'normal'.
However, the big music fest here Fan Fair, renamed to CMA Fest, in June is still scheduled to go on. Pretty amazing really. They need the tourist dollar$ so from a business perspective, it makes sense.