1) What's interesting is that this inventory surge in Nashville is happening amidst a wave of positive press about how many people are moving to the city.
WSJ just ran a piece about Nashville booming.
But that doesn't seem to be backed up by the data anymore… pic.twitter.com/2VFDhpoOg6
— Nick Gerli (@nickgerli1) April 29, 2024
3) Of course – prices in Nashville are still high at an aggregate level. With the typical value of a house still resting near a record $440k.
With prices highest in Williamson County to the south.
Values there are approaching $900k for the typical house. Making it one of the… pic.twitter.com/BMxFtjhHMv
— Nick Gerli (@nickgerli1) April 29, 2024
5) Currently, the Reventure App Price Forecast score ranks Nashville as a 43/100.
Suggesting moderate downward price pressure this year. Due to rising inventory, price cuts, DOM, and slowing appreciation.
This will be an interesting market to track as the year goes on. pic.twitter.com/jP6Davw17I
— Nick Gerli (@nickgerli1) April 29, 2024