Just the other day, a friend sent me a video of a guy saying the Nashville market was going to drop by 35%. The fear-based headlines are talking about inflation and economic downturn and layoffs. Okay, so the economy’s not roaring like we want it to today, but what does that really mean for Nashville home prices? Let’s dig into the numbers.
Davidson County median price is 444,000. That’s a 6% dip over the last 12 months. Inventory under $500,000, there’s more buyers than sellers, so prices are going to creep up in that price range. Over $500k, inventory is creeping up. We would look to see anywhere from maybe a 3% dip to a 3% appreciation over the next 12 months.
The tip for those that are in the market to buy a home right now is, take a look at the interest rate buydown. For a little bit upfront, it can save you a ton of money and make your mortgage feel much more affordable.
