On March 6, we hosted our first NASHONOMICS NOW of the year, featuring an insightful discussion on the economic and housing trends shaping Middle Tennessee. Led by our President-Elect, Jack Gaughan, this virtual series brings together industry experts throughout the year to break down key market forces affecting real estate professionals and the broader community.
If you’re looking to stay informed about Nashville’s economic climate, job market, and housing affordability, NASHONOMICS NOW is a must-watch. These sessions are available on the Greater Nashville REALTORS® website, providing valuable data and expert analysis to help navigate our ever-evolving market.
Key Takeaways from the Latest Session
In our most recent discussion, we were joined by Bishoy Mikhail, Vice President of Research at the Nashville Area Chamber of Commerce, and Nadia Evangelou, Senior Economist & Director of Real Estate Research for the National Association of REALTORS® (NAR). They provided an in-depth look at demographic shifts, job growth, and the housing market’s trajectory.
One of the most striking insights came from NAR’s research on homeownership and affordability in the Nashville Metropolitan Statistical Area (MSA).
Home Equity Growth: A Decade of Gains
Homeownership continues to be one of the most powerful ways to build wealth. Over the past decade, homeowners in the Nashville MSA have seen significant equity growth. In the first quarter of 2015, the median home price in our region was $186,400. By December 2024, that number had risen to $425,600. That’s an equity gain of $273,875—a testament to the long-term value of owning a home.
Housing Construction: Meeting the Demand
Another key topic was housing supply, which has struggled to keep pace with our region’s growth. Since the 2008 housing crisis, the U.S. has faced a severe shortage of new homes. While Nashville saw a 40% surge in housing construction in 2014, the rate gradually declined in the years that followed. More recently, construction activity dipped in 2022 but has been rebounding since last spring.
With Middle Tennessee’s population continuing to grow, expanding our housing supply is critical. Increasing inventory will help maintain affordability and ensure that more people can find housing that meets their needs.
Looking Ahead
The economic outlook for Greater Nashville remains strong, with continued job growth and homeownership opportunities. However, challenges such as workforce constraints, infrastructure needs, and rising housing costs remain at the forefront. Addressing these issues will be key to sustaining our region’s long-term success.
If you’re invested in Nashville’s future—whether as a homebuyer, business owner, or community leader—staying informed is essential. Be sure to check out NASHONOMICS NOW for ongoing insights into the forces shaping our market.
