Real Deal Column

Over a decade ago, in early 2013, journalist Kim Severson of The New York Times dubbed Nashville the “It City” in an article titled Nashville’s Latest Big Hit Could Be the City Itself.

I’m Jack Gaughan, 2026 president of Greater Nashville REALTORS®, a Nashville native, and managing broker with RE/MAX Choice Properties. I’m a third-generation REALTOR® and a third-generation association president. Both of my parents, along with my grandfather, previously served as president of the Sumner Association of REALTORS®. Those are big shoes to fill, but I’m honored to serve our association this year and proud to work in an industry that has given my family a terrific life. More importantly, I’m proud of the role REALTORS® play every day helping clients across Middle Tennessee build stability, opportunity, and generational wealth through homeownership.

As Heraclitus of Ephesus famously quoted the only constant is change, there is one lesson I will undoubtedly carry with me into 2026 after my year serving as president of Greater Nashville Realtors. Leaning into the inevitable obstacles that will arise to enact meaningful change is an essential step toward progress.

The end of the year is quickly approaching, and as the holiday season fills calendars with travel, family time, and a chance to slow down, the housing market tends to follow suit. This time of year typically brings a natural pause in activity, and the latest home sale figures for November reflect that familiar seasonal lull.

A long-standing pathway to building wealth in the United States has been homeownership. Right after World War II, Congress passed what’s commonly known as the G.I. Bill in an effort to avoid a postwar return to mass unemployment.

In January of this year, I began my one-year term serving as the president of Greater Nashville REALTORS®, a title I’ve gained immense pride from over the course of 2025. Just a few weeks ago, I attended my final event as president of this world-class association, which serves more than 6,800 Realtors across Middle Tennessee, at our annual Member Luncheon and Board of Directors Installation.

Throughout the year, I’ve shared concerns about housing affordability in Nashville and beyond. For many residents, buying a home feels out of reach, and that reality is not getting any closer as home prices continue to rise and interest rates remain above six percent.

The 2025 housing market can largely be summed up in one word: expensive. For many Middle Tennessee residents and people across the country, especially younger Americans, homeownership is slipping further out of reach.