Nashville, TN 37209 Real Estate Market Report

ZIP Code: 37209
Report Date: February 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The median sold price in Nashville, TN (ZIP: 37209) stands at $613,000, reflecting a localized cooling trend as prices have decreased. This decline in sold prices suggests a shift in market dynamics, with buyers gaining more leverage amid elevated inventory levels. The median listing price of $684,900 indicates seller expectations remain high, but the gap between listing and sold prices may create pricing friction as the market adjusts to current conditions.

Transaction activity is characterized by a median of 177 days on market, indicating slower sales velocity. This extended timeframe for properties to sell, combined with elevated interest rate pressure, suggests that affordability constraints are impacting buyer engagement. Despite these challenges, the underlying economic strength from job and population growth provides a stabilizing floor against significant price drops, although the overall market temperature is currently assessed as neutral.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

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Property Taxes

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Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

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Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in the Nashville TN 37209 area average around 5.875% to 6.037%, which is slightly lower than the 6.76% average rate seen for similar Tennessee originations earlier in 2026.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. The median sold price of $613,000 indicates a decrease in market value, reflecting recent price declines.

2. With a median listing price of $684,900, there is a notable gap between seller expectations and actual market transactions, suggesting potential pricing friction.

3. Properties are taking a median of 177 days on market, signaling slower sales velocity and a shift in buyer leverage.

4. The market temperature is currently neutral, indicating balanced conditions despite elevated inventory levels.

5. Elevated interest rate pressure continues to constrain affordability, impacting buyer demand and overall market activity.

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Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.