News

NASHVILLE, Tenn. (Feb. 9, 2026) – There were 1,825 home closings reported for the month of January, according to figures provided by Greater Nashville REALTORS®. This figure is down 4 percent from the 1,905 closings reported for the same period last year.

Late last year, the share of first-time home buyers fell to a record low of 21 percent, while the typical age of a first-time buyer climbed to an all-time high of 40, according to data from the National Association of REALTORS®.

In mid-January, mortgage rates dipped to their lowest level since September 2022, falling to 6.06% from 6.16% following a social media post from Donald Trump instructing Fannie Mae and Freddie Mac to purchase $200 billion in mortgage-backed securities.

When people say real estate is “political,” they often picture partisan arguments or catchy slogans. But those aren’t the things that impact your bottom line.

Housing affordability dominated the conversation in 2025, from lawmakers and business leaders to residents across the country. Nationally, it will remain a central focus as we move into 2026 and beyond.

In 2025, 112 homes sold for $4 million or more across the Greater Nashville region, with the majority of those closings concentrated in Williamson County. Homes at this price point spent an average of 128 days on the market, with a median size of 7,801 square feet, underscoring the patience and selectivity that often defines the region’s highest tier of buyers.

The Greater Nashville Area’s housing market has shifted from breakneck competition to a more balanced, opportunity-rich phase. However, affordability and local demand still influence every transaction. Average sale prices remain higher than the national average, and inventory has also increased, resulting in homes staying on the market longer than they did last year at this time.

Over a decade ago, in early 2013, journalist Kim Severson of The New York Times dubbed Nashville the “It City” in an article titled Nashville’s Latest Big Hit Could Be the City Itself.

I’m Jack Gaughan, 2026 president of Greater Nashville REALTORS®, a Nashville native, and managing broker with RE/MAX Choice Properties. I’m a third-generation REALTOR® and a third-generation association president. Both of my parents, along with my grandfather, previously served as president of the Sumner Association of REALTORS®. Those are big shoes to fill, but I’m honored to serve our association this year and proud to work in an industry that has given my family a terrific life. More importantly, I’m proud of the role REALTORS® play every day helping clients across Middle Tennessee build stability, opportunity, and generational wealth through homeownership.

As a REALTOR® who works closely with families, investors, and first-time buyers, I’ve noticed more and more conversations surrounding a new trend in home financing, the 50-year mortgage. Yes, you read that right. Half a century of payments. So, let’s unpack what this means for you, the pros, cons, and what to really consider before signing on that dotted line.

As Heraclitus of Ephesus famously quoted the only constant is change, there is one lesson I will undoubtedly carry with me into 2026 after my year serving as president of Greater Nashville Realtors. Leaning into the inevitable obstacles that will arise to enact meaningful change is an essential step toward progress.

The end of the year is quickly approaching, and as the holiday season fills calendars with travel, family time, and a chance to slow down, the housing market tends to follow suit. This time of year typically brings a natural pause in activity, and the latest home sale figures for November reflect that familiar seasonal lull.