NASHVILLE, Tenn. (Feb. 10, 2024) – Greater Nashville REALTORS® has released its first annual housing market report, offering an in-depth look at the trends and data that have shaped the region’s real estate landscape over the past year. The 2024 Housing Market Report highlights both the challenges and opportunities faced by the industry, underscoring the resilience and growth within Middle Tennessee's dynamic market.
Key Highlights from the 2024 Housing Market Report:
- Total home sales increased by 1% compared to 2023, signaling steady demand across the region.
- Single-family home prices rose by 5%, reflecting continued interest in traditional housing options.
- Condominium prices experienced a 2% increase, indicating growing demand in urban living spaces.
- The local economy saw a $5 billion boost in GDP, marking a 3% increase year-over-year, driven by a thriving job market and population growth.
“This past year has been one of both challenges and opportunities, marked by resilience and growth in the face of economic shifts and evolving market dynamics,” said Collyn Wainwright, 2025 president of Greater Nashville REALTORS®. “Our members play a critical role as trusted advisors to home buyers and sellers, and this report provides the insights needed to guide clients through an ever-changing market.”
The report highlights the significant factors influencing the housing market, including fluctuating interest rates, steady home price growth, and a dynamic job market. Despite a competitive landscape, Middle Tennessee continues to attract new residents and businesses, contributing to a robust and growing economy.
“Understanding these trends is essential for navigating the current market and preparing for what lies ahead,” Wainwright added. “Greater Nashville REALTORS® remains committed to supporting Middle Tennessee residents with the information and resources they need to succeed and to help our community thrive.”
The full 2024 Housing Market Report is available here.
About Us: Greater Nashville REALTORS® is one of Middle Tennessee’s largest professional trade associations and serves as the primary voice for Nashville-area property owners. REALTOR® is a registered trademark that may be used only by real estate professionals who are members of the National Association of REALTORS® and subscribe to its strict code of ethics.
