Nashville, TN 37217 Real Estate Market Report

ZIP Code: 37217
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: 37217) is currently $375,000, reflecting a market that has seen a decrease in values year-over-year. This decline suggests a shift in buyer sentiment and market dynamics, as the area adapts to elevated inventory levels and a more balanced market environment. The median listing price stands at $449,000, indicating a notable gap between seller expectations and actual transaction values, which may create pricing friction for potential buyers.

Transaction activity appears moderate, with 247 days on market indicating slower sales velocity. This extended time frame for properties suggests that buyers are exercising caution, likely influenced by a neutral market temperature and moderate interest rate pressure. While the underlying demand remains supported by population growth, the current conditions may lead to further adjustments in pricing as sellers align with market realities.

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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 Nashville, TN, around 5.75%-6.00% are lower than the 6.55% average seen earlier in 2026, presenting a cost opportunity for recent borrowers.

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 $375,000 indicates a market that has experienced a decrease in values, reflecting changing buyer dynamics.

2. With a median listing price of $449,000, there is a significant gap between asking prices and sold prices, which may lead to pricing friction for sellers.

3. Properties are taking a long time to sell, with a median days on market of 247, suggesting slower sales velocity and potential buyer hesitation.

4. The market temperature is currently neutral, indicating balanced conditions without strong pressure on either buyers or sellers.

5. Rental rates are also softening, with a median market rent of $1,758, reflecting higher vacancy levels and downward trends in rental performance.

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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.