Creating conditional to display taxonomy term meta

I’m trying to display an extra meta field for taxonomy terms. wever I’m trying to create a conditional, in that, if the meta field is empty, show a default value.

here’s the code for creating the taxonomy meta field:

// Add phone number to location taxonomies
function nwtd_lpfs_taxonomy_add_new_meta_field() {
    ?>
    <div class="form-field">
        <label for="term_meta[phone]"><?php _e( 'Location Based Phone Number', 'nwtd' ); ?></label>
        <input type="text" name="term_meta[phone]" id="term_meta[phone]" value="">
        <p class="description"><?php _e( 'Enter a phone number for this location','nwtd' ); ?></p>
    </div>
<?php
}
add_action( 'locations_add_form_fields', 'nwtd_lpfs_taxonomy_add_new_meta_field', 10, 2 );

// Edit term page
function nwtd_lpfs_taxonomy_edit_meta_field($term) {

    // put the term ID into a variable
    $t_id = $term->term_id;

    // retrieve the existing value(s) for this meta field. This returns an array
    $term_meta = get_option( "taxonomy_$t_id" ); ?>
    <tr class="form-field">
    <th scope="row" valign="top"><label for="term_meta[phone]"><?php _e( 'Location Based Phone Number', 'nwtd' ); ?></label></th>
        <td>
            <input type="text" name="term_meta[phone]" id="term_meta[phone]" value="<?php echo esc_attr( $term_meta['phone'] ) ? esc_attr( $term_meta['phone'] ) : ''; ?>">
            <p class="description"><?php _e( 'Enter a phone number for this location','nwtd' ); ?></p>
        </td>
    </tr>
<?php
}
add_action( 'locations_edit_form_fields', 'nwtd_lpfs_taxonomy_edit_meta_field', 10, 2 );

// Save extra taxonomy fields callback function.
function save_taxonomy_custom_meta( $term_id ) {
    if ( isset( $_POST['term_meta'] ) ) {
        $t_id = $term_id;
        $term_meta = get_option( "taxonomy_$t_id" );
        $cat_keys = array_keys( $_POST['term_meta'] );
        foreach ( $cat_keys as $key ) {
            if ( isset ( $_POST['term_meta'][$key] ) ) {
                $term_meta[$key] = $_POST['term_meta'][$key];
            }
        }
        // Save the option array.
        update_option( "taxonomy_$t_id", $term_meta );
    }
}  
add_action( 'edited_locations', 'save_taxonomy_custom_meta', 10, 2 );  
add_action( 'create_locations', 'save_taxonomy_custom_meta', 10, 2 );

The conditional I’m trying to use in my template is:

<?php if( $term_meta['phone'] != "" ) {             
     echo $term_meta['phone'];                                      } else {                                
    echo '(555) 555-555';                                       }?>

Any thoughts? TIA