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March 2023 Nashville Market Update

The market feels different, even though it is statistically pretty status quo, stable, and balanced. There seems to be fewer people moving within the area that usual, and a larger percentage of transactions are first time home buyers or relocation either in or out of the the city. Transaction volume continues to be down compared to last year at this time. Q2 last year saw a massive spike in prices before resettling in Q3. So, over the next few months, the YOY numbers may seem alarming, but we actually already experienced the shift that will ultimately be showing up on the white board. Attractive homes that look better than the competition without a lot of projects for buyers to inherit are still selling, often at seller favorable prices.

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