Market Intelligence Report — TN-980

Nashville, TN

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

Ref. No: 2026-TN-09
As of the latest 2026 data
Cooling

Median Listing

$534K
-1.0% YoY

Pending Ratio

0.37
-6.1% YoY

Active Inventory

12,150
+12.0% YoY

Median DOM

62 Days
+5.1% YoY

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The Nashville-Davidson--Murfreesboro--Franklin market is in a Cooling condition, characterized by a pending ratio of 0.37. This indicates that demand absorption is lagging inventory, with fewer pending listings relative to active inventory.

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

2.9%-0.2 pp YoY

Unemployment rate · Sep 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

1,549+3.9% YoY

Building permits (private housing units) · Sep 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 expanded by 12.0% year-over-year, contributing to a more ample supply environment. New listings have seen a modest decrease of 2.4% over the past year. The median listing price has experienced slight declines, down 1.1% month-over-month and 1.0% year-over-year, reflecting market adjustments. Median days on market increased by 5.1% year-over-year to 62 days, suggesting a slower pace of transactions.

Music City demand keeps pressing prices upward despite higher rates.

Historical Analysis

Market Trends

Median Price

$534K-1.1% MoM

Active Inventory

12,150+12.0% YoY

Days on Market

62+5.1% YoY

Sold Score™

48-6.1% YoY

Sold Score™ Over Time

Market liquidity index • 36 months

48
Oct 23Sep 26

Price & Days on Market

Median listing vs market velocity

Price DOM
Oct 23Sep 26

Inventory Dynamics

Total active listings vs new monthly supply

Active New listings
Oct 23May 24Dec 24Jul 25Feb 26Sep 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 0.37, the absorption of available inventory is moderate. This environment suggests that properties are remaining on the market for longer, and buyers may encounter less competitive conditions, potentially allowing for greater price discipline in negotiations. The elevated level of active inventory reinforces a more measured pace for market transactions.

Luxury Segment

The average listing price increased by 2.5% year-over-year, while the median listing price decreased by 1.0% year-over-year and median price per square foot declined by 1.3% year-over-year. This disparity, alongside a high average-to-median spread, suggests some softness within the higher-priced segments of the market despite the overall increase in average listing price.

Supply Dynamics

12,150 active listings represent the current floor, with new supply arriving at roughly 3,842 per month.

Pricing Pressure
22.4%

of active listings carry a price reduction, +0.3% from prior period.

$/Sq Ft
$0K

Median price per square foot has moved -1.3% year-over-year.

Absorption
0.37

Pending-to-active ratio — Cooling.

Recommended For This Market

Cooling

Selling in Nashville, TN? Homes here are taking 3 days longer to sell than 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
37%
Median Days on Market
62 days
Inventory YoY
+12%

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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