We theoretically study the interplay between electrical and mechanical properties of suspended, doubly clamped carbon nanotubes in which charging effects dominate. In this geometry, the capacitance between the nanotube and the gate(s) depends on the distance between them. This dependence modifies the usual Coulomb models and we show that it needs to be incorporated to capture the physics of the problem correctly. We find that the tube position changes in discrete steps every time an electron tunnels onto it. Edges of Coulomb diamonds acquire a (small) curvature. We also show that bistability in the tube position occurs and that tunneling of an electron onto the tube drastically modifies the quantized eigenmodes of the tube. Experimental verification of these predictions is possible in suspended tubes of sub-micron length.