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.
Rising home prices and mortgage rates are prolonging the path into homeownership. This is reflected in the median age of first-time buyers, which has reached a record high of 40 according to the National Association of Realtors 2025 Profile of Home Buyers and Sellers. The report also shows that first-time buyers made up just 21 percent of home purchases between July 2024 and June 2025, marking another record low in NAR’s data going back to 1981.
Despite these affordability challenges, there is a silver lining for those hoping to enter the market. The latest figures from Greater Nashville Realtors show that housing inventory rose 19 percent compared to this time last year, reaching some of its highest levels since 2014. With inventory continuing to climb, the market has shifted toward conditions that favor buyers, creating opportunities not seen in several years.
A recent analysis from Realtor.com highlights a trend across several metros in the South and West where conditions are shifting toward a buyer’s market. This occurs when the months supply surpasses the six-month benchmark, which measures how long it would take for all current listings to sell at the existing sales pace. In the Nashville MSA, months of supply increased from 5.8 in June to 6.4 in August, placing the region in buyer’s market territory.
While this shift has not yet translated into easier access for younger buyers, mainly because of ongoing affordability challenges, it does give many purchasers new advantages. Buyers have regained leverage, which helps keep the market balanced. For several years leading up to and during the COVID-19 pandemic, sellers had a clear advantage.
When you consider Nashville’s strong job market, relatively low property taxes, and overall economic vitality, it is easy to understand the continued appeal of the region. Those fundamentals, paired with rising inventory, some price stabilization, and more options to choose from, are creating conditions where buyers have more room to breathe and far less pressure than in previous years. As we move into the holiday season and competition eases, the coming weeks and months may offer a promising window for buyers to enter the market. Many purchasers could find a higher likelihood of securing a reduced price and receiving concessions from sellers.
Collyn Wainwright is president of Greater Nashville Realtors. A Realtor is a member of the National Association of Realtors who subscribes to its strict code of ethics. You can reach Collyn at 615-383-6964 or collyn@collyn.com.
