Overview icon Overview
Supply icon Supply
Demand icon Demand
Buy or Sell icon Buy or Sell

Nashville Housing Market Overview

Nashville's housing market is cooling slightly. The median home price is $470,200, a 3.4% increase from last year. Only 686 homes were sold, with a 7.2% decline YoY. Homes spend an average of 84 days on the market, which is 8 days more than the same time last year.

Nashville offers a wide mix of housing, from classic bungalows in East Nashville to modern builds in areas like Antioch and Mt. Juliet. With its growing economy, top-notch music scene, and zero state income tax, the city attracts hordes of buyers. Nashville remains a solid choice for both first-time buyers as well as long-term homeowners.

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Nashville Housing Supply

Nashville draws buyers with its strong job market, growing economy, and appealing mix of urban and suburban neighborhoods. This month, there are 3,423 homes for sale in Nashville, up 13.8% from last year. However, only 1,137 new listings hit the market, which is 3.7% less than last year. Buyers have more homes to choose from, but fresh options remain limited.

Housing supply in Nashville tends to rise in spring and summer. Sellers aim to close before the new school year, while buyers hope to settle in before fall. At present, homes stay on the market for longer, which gives buyers more negotiating power. However, make sure to inspect homes carefully and ask for seller concessions where possible.

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Nashville Housing Demand

The Nashville real estate market shows signs of transition to a buyer's market. Only 12.8% of homes sell above the list price. Meanwhile, 21.4% of homes sell with price drops, which indicates that buyers now have more room to negotiate. The sale-to-list price ratio is 97.7%. While some sellers still get strong offers, many have to adjust prices to retain buyers and close faster.

To stand out, sellers should price homes correctly and offer concessions to attract buyers. In addition, listing on the Tennessee MLS boosts visibility and draws more interest to your property. For buyers, the current market opens the door to better deals, especially on homes that sit longer in the market, or have recently seen price drops. With rising inventory, buyers now have more options and leverage.

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Buyer’s Market

Seller’s Market

Balanced: Neither buyers nor sellers dominate the market. Supply meets demand, prices stay stable, and both parties negotiate on an equal footing.

The Nashville housing market shifts between buyer-friendly and seller-friendly conditions, much like other parts of the Tennessee housing market. While the market stays active year-round, seasonal changes create chances for both buyers and sellers. When inventory expands and competition slows, buyers get more room to negotiate. However, when demand outpaces supply, sellers benefit from stronger offers and faster sales.

If Nashville's housing supply climbs above 5-6 months, which is the balanced threshold of the US housing market, buyers have more time to compare options. But when supply falls below that level, sellers are likely to receive multiple offers at higher prices. Knowledge of these patterns helps you decide the best time to buy or sell your house.

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Frequently Asked Questions

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