News

The defining theme for 2025 is stability. With the Federal Reserve likely pausing interest rate hikes, the worst-case scenario appears to be maintaining current rates. While we’re not returning to the booming market of 2021, this stability should be welcomed by all market participants as it reduces volatility and allows for better planning. Buyers, sellers, renters, and investors alike can benefit from a more predictable market environment.

When considering the best time to purchase a home, several key factors come into play—home prices, interest rates, and the state of the economy. However, supply and demand are the driving forces that most directly impact the real estate market.

Many were shocked when Elvis Presley's Graceland was listed for sale in May of 2024, including the Presley family. Naussany Investments and Private Lending posted a notice of foreclosure sale for the Graceland estate, stating the owner of the museum had failed to pay a loan.

Earlier this week, Greater Nashville Realtors released its monthly home sales report for December 2024, alongside Q4 market data and total closings for the entire year. While the report contains a wealth of data, here are key takeaways that shed light on the 2024 market's performance and what it might mean for buyers and sellers in 2025.

NASHVILLE, Tenn. (Jan. 7, 2025) – Final numbers for 2024 indicate there were 33,935 homes sold in the region, compared to the 33,429 closings in 2023. The total sales for 2024 were up 1 percent compared to 2023.

As the incoming president of Greater Nashville REALTORS®, it is an honor to connect with you in this weekly column, which has long served as a resource for the real estate community and consumers alike. My name is Collyn Wainwright, and I am proud to serve our dynamic and thriving region. As a Realtor with over a decade of experience, I’ve had the privilege of both working with clients in the home-buying and selling process, as well as mentoring agents in their own transactions.

Nashville’s housing market in 2025 is expected to continue reflecting its dynamic growth and evolving demographics, driven by strong population inflows, a robust job market, and increased urban development. Analysts predict home sales will experience moderate growth, fueled by demand from young professionals, retirees, and transplants drawn to Nashville’s reputation for quality of life.

As I prepare to close this chapter of my career as president of an association representing nearly 7,000 Realtors across Middle Tennessee, I want to leave you with a message that has resonated with me more deeply than ever.