Nashville’s real estate market continues grabbing headlines for its resilience and fast-changing dynamics. Locals will tell you demand is still strong, but the flavor of the conversation has changed with the times. Davidson County saw its median sale price tick up to $464,000 in September 2025, a 3.1% annual bump, but that heat doesn’t mean homes are flying off the shelves—properties are lingering for longer, with the average days-on-market climbing to 68, up from 60 last year, according to Redfin. Bidding wars are cooling, and sellers are revisiting their expectations as more inventory hits the market.

The latest Realtor.com data shows nearly one in five Nashville-area homes had to cut their price in September as inventory surged and buyers flexed their bargaining muscles. Most reductions are happening in the lower- and mid-tier price ranges, which fits Nashville’s profile, while the luxury segment is holding firm. Nationwide, homes priced between $350,000 and $500,000 are leading on price cuts, and locally those numbers track. Sellers have had to adjust to longer selling times, with homes taking about a week longer to sell than last year.

The South, which includes Nashville, is still seeing price dips, but not enough to spark a dramatic reversal. The median list price in the region was just shy of $389,000 in September and fell a modest 0.4% year-over-year. Compared to national trends, Nashville is still pricier than average, but the edge is shrinking. And even as prices flatten, affordability is strained—one of the persistent ghosts haunting this hot spot.

Momentum in industrial and commercial real estate is another story. According to a Matthews report, the industrial sector rebounded sharply in Q3 2025, absorbing over 700,000 square feet and keeping vacancy rates at a solid 6%. Developers remain undeterred, with nearly 10 million square feet under construction, betting big on Nashville’s position as a logistics and consumer hub—especially with all those new residents (over 136,000 since 2020, thanks in part to international migration). Small-bay industrial buildings, in particular, are in high demand but low supply, keeping rents strong and investors eager. The major movers, like Brennan Investment Group and Hamilton Development, are all-in, aiming to transform peripheral neighborhoods and keep Nashville on the supply chain map.

On the multifamily front, rent growth has slowed but not reversed. According to RealPage data, effective rent growth was a mild 2% annually through Q3, keeping rates at around $1,880 per month. CoStar confirms the rental market is cooling in step with national trends, with more options for renters and less urgency for landlords to push big hikes.

Looking ahead, speculation swirls—will inventory increases force more price reductions, or will in-migration reignite the bidding wars of yesteryear? No one’s crystal ball is foolproof, so I’ll be tracking these trends and separating fact from fiction next week.

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