Navigate Rising Prices & Market Trends

How Nashville Home Buyers and Sellers Can
Navigate Rising Prices and Market Trends

as featured in 'THE TENNESSEAN'

 

A surge of housing inventory has hit the Nashville market this year, leading to more options, concessions and opportunity for buyers looking to break in. But despite more choices, housing prices aren't predicted to plummet.

According to the latest Re/Max National Housing Report, the greater Nashville area ranked fifth in the nation for new listings in August, up more than 5% when compared to this time last year. Total inventory is also up by about 30% year-over-year as housing options have piled up throughout 2025.

Despite the increase in inventory, affordability in general is still an issue across Tennessee, where the median home price has risen by about 68% in just the past five years, according to data published by ThinkTennessee.

"While affordability remains a challenge in many areas, despite some recent improvements in mortgage rates, opportunities persist, especially in markets where prices have stabilized or inventory has improved," Re/Max CEO of Holdings Erik Carlson said in a statement. "Buyers and sellers who stay informed and work with experienced agents are best positioned to navigate today's market."

More homes on the market paired with relatively flat demand year-over-year means buyers can take their time to find a home that's right for them. Meanwhile, sellers need to price homes competitively, and many motivated sellers are offering concessions, according to Nashville-based residential appraiser Jason Covington.

The Nashville housing market was extremely competitive just three years ago, with buyers moving to Middle Tennessee from across the U.S. and getting into bidding wars for limited inventory. 

For-sale homes have slowly been piling up since then, which means buyers have more options to choose from and can expect a slightly more relaxed house-hunting process. Furthermore, concessions are out there, Covington said.

When buyers are looking and newly built homes, that could mean builders have a preferred lender with perks. Or, they might be willing to throw in upgrades to get deals closed. Other concessions could include mortgage rate buy-downs or sellers covering closing costs.

"I do see builders getting creative with their incentives," Covington said. "I do see them doing a lot of different things, working with lenders and brokers, partnering up. I think buyers can look forward to having inventory to look at and being incentivized to buy."

When it comes to selling a home, Covington said it's important to price accurately and competitively. According to data published by Re/Max, homes in Nashville are taking 10 days longer to sell, on average, when compared to this time last year. Covington said in order to price homes accurately, he has seen more sellers hire professional appraisers in the beginning of the listing process instead of during closing.

"What I see from sellers right now is them going out of their way to make sure they have priced their home correctly," he said. "I have seen more sellers work closely with their professional real estate agents to accurately market and sell that home and price it correctly. I see more and more of them hiring appraisers to do professional
measurements."

Covington said if sellers don't want their homes sitting on the market for 60 to 90 days, his best advice is to pay close attention to advice from a professional real estate agent and find the right price.