Market Intelligence Report — TN-980

Nashville, TN

Monthly housing intelligence, market trends, and trusted local expertise.

Ref. No: 2026-TN-08
As of the latest 2026 data
Cooling

Median Listing

$540K
+0.0% YoY

Pending Ratio

0.38
-5.0% YoY

Active Inventory

12,197
+12.6% YoY

Median DOM

60 Days
+1.7% YoY

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The Nashville-Davidson--Murfreesboro--Franklin market is exhibiting Cooling conditions. The pending ratio currently stands at 0.38, indicating that demand absorption is moderate relative to available supply, with a year-over-year decline of 5.0%.

Local Market Signals

Source: FRED (St. Louis Fed)

Local economic trends can influence how quickly homes sell and how much competition sellers may face.

Job Market

3.1%-0.3 pp YoY

Unemployment rate · Jul 2026

Shows whether local employment conditions are supporting buyer demand.

U.S. Bureau of Labor Statistics via FRED (St. Louis Fed).

Population & Migration

2.20M+1.6% YoY

Resident population · Jan 2025

Shows whether the area is gaining or losing potential housing demand.

U.S. Census Bureau via FRED (St. Louis Fed).

Future Housing Supply

1,343-31.9% YoY

Building permits (private housing units) · Jul 2026

Shows whether future inventory pressure may increase.

U.S. Census Bureau building permits via FRED (St. Louis Fed).

Market Analysis

What's moving the Nashville market right now.

Active listings have increased by 12.6% over the past year, while new listings saw a marginal gain of 0.6% during the same period. The median listing price remained stable with 0.0% change year-over-year, and the median price per square foot saw a slight decrease of 0.8% over the last year. Median days on market experienced a modest increase of 1.7% year-over-year, reaching 60 days, suggesting a slightly slower pace of transactions.

Music City demand keeps pressing prices upward despite higher rates.

Historical Analysis

Market Trends

Median Price

$540K+0.0% MoM

Active Inventory

12,197+12.6% YoY

Days on Market

60+1.7% YoY

Sold Score™

47-5.0% YoY

Sold Score™ Over Time

Market liquidity index • 36 months

47
Sep 23Aug 26

Price & Days on Market

Median listing vs market velocity

Price DOM
Sep 23Aug 26

Inventory Dynamics

Total active listings vs new monthly supply

Active New listings
Sep 23Apr 24Nov 24Jun 25Jan 26Aug 26

Sourced from Realtor.com RDC Inventory Core Metrics, supplemented by the Primpted research desk. Updated As of the latest 2026 data.

Market Signals & Indicators

Negotiating Leverage

With a pending ratio of 0.38 and an increase in active listings over the past year, market dynamics suggest a moderate pace of absorption. This environment places increased pressure on price discipline, as elevated inventory levels may afford properties longer exposure periods. The current conditions indicate a more deliberate transaction process compared to prior periods.

Luxury Segment

The average listing price has risen by 2.4% over the past year, contrasting with a stable median listing price and a slight year-over-year decline in median price per square foot. This divergence, coupled with an elevated spread between average and median prices, suggests some varied dynamics within the higher price tiers relative to the broader market.

Supply Dynamics

12,197 active listings represent the current floor, with new supply arriving at roughly 4,040 per month.

Pricing Pressure
22.0%

of active listings carry a price reduction, +0.8% from prior period.

$/Sq Ft
$0K

Median price per square foot has moved -0.8% year-over-year.

Absorption
0.38

Pending-to-active ratio — Cooling.

Recommended For This Market

Cooling

Selling in Nashville, TN? Inventory is up 13% from last year.

Buyers have leverage in Nashville, TN. Homes that sell are the ones priced and presented for today's conditions, not last year's.

Buyer Demand Index
38%
Median Days on Market
60 days
Inventory YoY
+13%

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Metro Demographics

MSA Population
2.1M
Metro Area
Nashville–Davidson
CBSA Code
34980
State
TN

ZIPs in Nashville, TN

Sorted by active inventory · click a ZIP for its full report