After several years of a red hot real estate market in Nashville, demand seems to be cooling off a bit here in 2019.
According to newly released housing market statistics, home appreciation in Nashville has steadily slowed since last fall, and that’s after significant year-over-year growth from around 2016 to mid-2018.
Back in March, price growth for Nashville homes settled at around the same rate as the national average of 6.6%, which is quite the drop-off from March 2017 when prices spiked by over 11%.
The apparent slowdown isn’t all that unexpected, however, at least so some economists around the country. The Nashville market was experiencing price growth at a rate that was simply unsustainable, and the recent steadying of Nashville home prices could be a welcome change for many still looking to buy.
In March, the number of unsold homes in the Nashville area swelled to 11,510, which represents the largest inventory we’ve seen since the very beginning of 2015.