Nashville, TN 37221 Real Estate Market Report

ZIP Code: 37221
Report Date: February 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

As of February 2026, the real estate market in Nashville, TN (ZIP: 37221) reflects a median sold price of $599,450, indicating a market that has experienced a modest adjustment with a year-over-year price trend that is down. This decrease suggests a shift in market dynamics, where buyers may have more negotiating power amid the current conditions. The elevated median days on market, now at 180 days, further signals a slower sales velocity, indicating that properties are taking longer to sell compared to previous periods.

The overall market temperature is currently assessed as neutral, with elevated inventory levels contributing to a more balanced environment. While some segments may still favor sellers, the increasing days on market and the elevated interest rate pressure—with current mortgage rates around 6.15%—are likely tempering buyer enthusiasm. This combination of factors suggests a rebalancing of the market, where price appreciation is modest and liquidity may be constrained in certain segments.

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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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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 6.15% are slightly higher than the 5.67% average seen earlier in 2026, suggesting property owners locked in a more favorable rate recently.

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. $599,450 median sold price indicates a down trend in property values, suggesting potential pricing friction for sellers.

2. • 180 days median days on market reflects a slower sales velocity, indicating that properties are taking longer to sell.
3. • The market temperature is neutral, suggesting a balanced environment with no clear advantage for buyers or sellers.
4. • $2,230 median market rent remains stable, indicating consistent rental demand despite fluctuations in sales prices.
5. • Elevated interest rate pressure, with rates around 6.15%, may be impacting buyer affordability 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.