News

As we step into the holiday season, the Nashville real estate market offers plenty of reasons to celebrate. With interest rates dropping to their lowest levels in months and the election season behind us, 2025 is shaping up to be a promising year for buyers and sellers alike.

Last week our nation paused to observe Veterans Day, a day dedicated to honoring the brave men and women who have served in the United States Armed Forces. It is a time to reflect on the sacrifices and contributions made by veterans to protect the freedoms we cherish and to recognize the ongoing impact they have on our communities.

The election is over, so what’s next for the real estate market? Talk to any agent and they’ll tell you they had clients waiting until the election was over to make a move. Now that we know who our President will be for the next four years, will buyers come back to the market? I think this past week has shown us that they will. Whether it’s because they want to move to a different state, or finally move up in-house, we are seeing buyers start to prepare themselves to purchase in the next few months. While some will likely wait until after the holidays, the smart buyers are looking now.

Reflecting on October’s housing market data, it’s clear that the Greater Nashville Realtors 9-county reporting area continues to demonstrate stability and growth in key areas. Before we dive in, I’d like to clarify a point from last week's column—median home sale prices referenced from 2014, 2019, and 2024 were specific to Nashville proper, not to be confused with the broader regional data shared here.

As Veterans Day approaches and we honor and recognize the contributions and sacrifice of veterans to our nation, it’s also important to acknowledge their impact on the housing market as a whole. Veterans represent a vital segment of homebuyers and they continue to shape the landscape of real estate in profound ways.

NASHVILLE, Tenn. (November 7, 2024) – Data for the month of October showed 2,841 home closings, according to figures provided by Greater Nashville REALTORS®. This figure indicates a 5 percent increase from the 2,697 closings reported for the same period last year.

Despite the current climate of higher-than-expected interest rates, Nashville’s real estate market remains robust, presenting a unique opportunity for buyers in 2024. With a notable five-month supply of housing—a figure we haven’t seen in over a decade—buyers today have more options and negotiating power than ever. This shift in the market offers a rare advantage: buyers can negotiate terms such as closing cost assistance, price concessions, and, in some cases, get offers accepted with as little as a 3% down payment.

The rise in severe natural disasters underscores the growing climate risk affecting global economies. Recent flash floods in Tennessee, for instance, caused widespread damage to neighborhoods, small businesses, and commercial properties on September 26-27, 2024. Such events highlight how climate change reshapes the commercial real estate (CRE) landscape, prompting responses like Governor Bill Lee’s Emergency Declaration, which emphasizes adaptive policies and resilience planning to maintain economic stability. As climate impacts spread across industries, investor behavior, and economic strategies must evolve accordingly.