Real Deal Column

The latest home sales data from Greater Nashville Realtors was recently released, offering key insights into the region's housing market compared to last year.

Homeownership has long been a cornerstone of the American Dream, providing financial stability and a reliable path to building long-term wealth. Across the country, rising home prices have reinforced this reality, making real estate one of the most effective investments for wealth accumulation.

For the past several decades, Greater Nashville Realtors has proudly celebrated the achievements and contributions of its members at the annual Awards of Excellence Gala. This event honors the professionals who have guided countless Tennesseans—whether first-time buyers, retirees, or growing families—in finding their place to call home in the Nashville area.

Last year, Greater Nashville Realtors partnered with the Nashville Area Chamber of Commerce to deliver valuable economic insights to our members. Thanks to the expertise of Bishoy Mikhail, the Chamber’s Vice President of Research, we’ve gained a clearer picture of the region’s job market, population growth, and housing trends. These key factors continue to shape Middle Tennessee’s economic future.

Last week, Greater Nashville REALTORS® released its monthly home sales report for January, and the numbers are promising as we ease into the second month of the year.

Over the last several years, communities across our state have been significantly impacted by natural disasters. From the once-in-a-lifetime floods that poured over Nashville in 2010 to the devastating tornadoes that struck the city in 2020, and most recently, on the West Coast, where catastrophic fires erupted in California, displacing more than 200,000 residents in the Los Angeles area—these types of events are unfortunately all too common.

Just a few weeks ago, mortgage rates reached 7% for the first time since May 2024, adding pressure on buyers in an already challenging housing market. This occurred despite the Federal Reserve cutting rates by a full percentage point in recent months, which had sparked hope for financial relief among homebuyers. Yet, home prices continue to rise both in Nashville and nationally.

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.