I’ve been watching Nashville’s housing market like it’s the hottest ticket in town, and right now the headline is this: prices are inching up, but the party has definitely slowed down. According to Redfin, the median Nashville home sold for about $495,000 in October, up roughly 7% from a year earlier, while price per square foot actually slipped a few percent, a sign buyers are pushing back on how far their dollars stretch. Homes are now taking about 74 days to sell, longer than last year, which means the bidding-war era is fading even as values keep climbing.

The vibe on the ground is “somewhat competitive” rather than cutthroat. Redfin data shows the typical listing gets about one offer, with more homes sitting and occasional price cuts creeping in. In East Nashville, long the darling of creative transplants, the median sale price is higher, around $577,000, and still rising about 5% year over year, but days on market have stretched from under two months to well over two, hinting that even trendsetters are starting to negotiate harder.

On the rental side, Apartments.com reports average rent in Nashville at about $1,650 a month as of early December, actually down about 2% over the past year. That small dip, after years of relentless increases, suggests supply is finally catching up and some landlords are blinking first. Yet rents remain slightly above the national average, and the city’s overall cost of living still runs just a bit higher on housing than the U.S. norm.

Nationally, Redfin’s latest report shows new listings falling and homes taking longer to sell across the country, with mortgage rates just above 6%. That broader chill is washing over Nashville too, muting the frenzied growth but not reversing it. A recent AOL report went so far as to call Nashville a buyer’s market and floated predictions of price drops ahead; that’s speculative, and so far the hard sales data does not show an actual price plunge, just slower momentum and more inventory.

The long-term story? Barring a deeper economic shock, most national forecasts expect a more balanced market in 2026, leaning slightly toward buyers without erasing the gains of the past decade. For Nashville, that likely means fewer fireworks, more normal negotiations, and a city that’s still pricey, but a bit less punishing for newcomers.

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