Middle Tennessee Market Snapshot

The Greater Nashville area continues to show a softening but still resilient housing market in late 2025. After several years of rapid appreciation, higher mortgage rates and a slightly larger pool of homes for sale have slowed the pace of bidding wars and pushed some price growth into the low single digits — while new-home incentives and lower rates in pockets are drawing buyers back in. Regionally, the metro median listing price sits north of the national average, reflecting strong demand for Middle Tennessee lifestyle and job growth.  

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Quick takeaways (one-liners)
    •    Nashville: Still pricey but stabilizing; buyers see more time to shop and fewer multiple-offer situations.  
    •    Franklin / College Grove: Luxury and suburban markets remain expensive — College Grove’s average values are much higher than surrounding towns.  
    •    Murfreesboro: Market showing modest price movement and easing conditions; some local reports point to better buyer opportunities as rates dip.  
    •    Spring Hill: Strong demand but more inventory than a year ago; median prices elevated but sales timelines lengthening.  
    •    Manchester: More affordable relative to the metro; smaller market with gradual year-over-year gains.  

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City-by-city snapshot

Nashville

Nashville’s housing market remains higher-priced than the U.S. average, with median sale prices near the upper-$400Ks and modest year-over-year gains. Homes are taking longer to sell than during the hottest months of 2020–2022, giving buyers slightly more negotiating room, but desirable neighborhoods still command premiums. Inventory is improved versus the tightest recent years, yet affordability pressures remain a factor for many local buyers.  

Franklin

Franklin continues to be one of the strongest suburban enclaves — historic downtown and Westhaven draw buyers willing to pay for location and schools. While some segments of Franklin report longer days on market and only modest price growth, central and luxury pockets (larger lots, custom homes) are still maintaining high price tags. Expect more balanced conditions than the buyer frenzy of a few years ago.  

College Grove

This market skews toward the high end: College Grove’s average home values are well above the metro average, driven by acreage properties, horse farms, and custom construction. Sales move slower (longer days on market) compared with denser suburbs because listings often target a narrower pool of buyers. For sellers, high-end staging and targeted marketing still pay off.  

Spring Hill

Spring Hill is a fast-growing suburb with a strong new-construction presence (auto and manufacturing growth nearby helped spur demand). Recent data show elevated median prices (mid-$500Ks) but also a growing inventory of listings and a higher percent of homes selling under list price — signs the market is normalizing and offering buyer leverage in many price bands.  

Murfreesboro

As one of the larger satellite cities, Murfreesboro has shown steady, modest appreciation with a healthy, diverse housing stock. Local reporting highlights that slightly lower mortgage rates in 2025 helped re-attract buyers, and median price-per-square-foot remains near historic highs for the area — but month-to-month softness gives buyers opportunities.  

Manchester

Manchester is more affordable compared with the core suburbs and Nashville itself. Average home values are lower and gains are more gradual, making it attractive to price-sensitive buyers or investors seeking rental yield. Because the market is smaller, price moves can be choppier and depend heavily on a few new listings or sales.  

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What’s driving the current picture
    1.    Mortgage rates: After cycles of increases, rates have come down from their mid-2024 peaks. Even small rate declines can re-open buyer demand and encourage builders to offer incentives on new construction.  
    2.    Inventory normalization: More sellers are listing, so buyers see more choice and fewer instant bidding wars — that brings negotiation power back to buyers in many neighborhoods.  
    3.    Local job & migration trends: Continued in-migration to Middle Tennessee (jobs, quality of life) sustains long-term demand even as short-term activity ebbs and flows.  

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Advice for buyers and sellers (practical)

Buyers
    •    Get pre-approved and watch neighborhoods for price reductions — improved inventory means you can be picky.
    •    Consider new-construction incentives (rate buydowns, price concessions) if you’re comparing resale vs. new builds.  

Sellers
    •    Price to today’s market: comps and days-on-market matter more now than in a frantic seller’s market. Professional staging and targeted digital marketing still boost results in competitive micro-markets (Franklin, College Grove).  

Investors
    •    Look for value in places like Manchester or selected Murfreesboro submarkets where yields can be stronger and entry prices lower.  

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Bottom line

Middle Tennessee in late 2025 is in a transition from the ultra-competitive market of recent years to a more balanced one. Prices remain above national averages in the core suburbs and Nashville, but easing mortgage rates and increasing inventory are opening windows of opportunity for buyers while forcing sellers to be more strategic. Local micro-markets still vary widely — so neighborhood-level data and a local agent’s knowledge are essential when making decisions.