Real Deal Column

Last week, I traveled to Washington, D.C., with Greater Nashville REALTORS® staff and leadership to attend the National Association of REALTORS®’ 2025 Legislative Meetings. We joined thousands of REALTORS® from across the country to meet directly with members of Congress, advocating for policies that support the housing market, protect property rights, and help make homeownership more attainable for more Americans.

Originally launched as National Homeownership Week in 1995 under the Clinton administration, this initiative aimed to expand access to homeownership nationwide. In 2002, it was extended to the full month of June under President George W. Bush, emphasizing the importance of homeownership through new programs and outreach efforts.

Last week, Greater Nashville REALTORS® hosted its annual economic summit, NASHONOMICS, bringing together business leaders, economists, and real estate professionals to discuss the latest trends shaping our region’s housing market and economic landscape.

On Tuesday, May 6, Mayor Freddie O’Connell’s office announced that the city reached a long-anticipated agreement to redevelop Rivergate Mall in Goodlettsville into a mixed-use destination, including multifamily housing. 

The latest home sales data from Greater Nashville REALTORS® offers a snapshot of a market moving toward better balance across our nine-county region. In April, there were 2,963 home closings—a 3 percent decrease from the 3,060 reported during the same time last year. While the drop is modest, it signals a trend: buyers are becoming more cautious, likely influenced by recent economic uncertainty and fluctuations in the financial markets.

Greater Nashville REALTORS® recently hosted its quarterly Business Conditions Council meeting, where members heard from Bishoy Mikhail, Vice President of Research at the Nashville Area Chamber of Commerce. Mikhail shared the latest insights into Nashville’s housing market and economic outlook for the first quarter of 2025 — and the trends reinforce what many of us are seeing firsthand: our region continues to grow, but so do the challenges that come with it.

If you’ve lived in Nashville for the past several years, you’ve likely seen the city grow—fast. Along with a booming population, property values have soared. In fact, the median sales price of a single-family home in Davidson County has risen nearly 43 percent, from $346,500 in March 2020 to $495,000 in March 2025, according to data from Realtracs.

As affordability remains a challenge for many Americans seeking to buy a home, there is encouraging news: between 2013 and 2023, the U.S. homeownership rate rose, with 11.8 million more homeowners added during that decade, according to the National Association of REALTORS®' 2025 Snapshot of Race and Home Buying in America report.