Is Now a Good Time to Buy a Home in Nashville With Today’s Interest Rates?

Nashville Market Snapshot — 2025

As of early 2025:

• Median home price: ~$482,000

• Average mortgage rate: 6.25%–6.75% (30‑year fixed)

• Average days on market: 26 days

• Buyer competition: Moderate but heating up in affordable price ranges

Rates are higher than during the pandemic lows, but home prices in Nashville have continued to rise steadily.

Why Buying Now Can Still Be Smart

1. Home Prices Are Still Climbing

Even with higher rates, Nashville’s strong job market and population growth keep demand high. Waiting may mean paying more for the same home.

2. You Can Refinance Later

If rates drop in the next few years, refinancing could lower your monthly payment.

3. More Negotiating Power Than in 2021–2022

While some neighborhoods still see multiple offers, the frenzied bidding wars have cooled in many price points, allowing buyers to negotiate more effectively.

The Cost of Waiting

If home prices increase by even 3% in the next year:

• A $450,000 home would cost ~$463,500

• At current rates, that could mean an extra $100–$200/month on your payment — even if rates drop slightly later.

Strategies to Make Buying Now Work

• Buy Below Your Max Budget — Gives you breathing room if rates rise

• Consider a Temporary Buydown — Lowers your rate for the first 1–3 years

• Use Seller Concessions — Ask sellers to cover some closing costs or rate buy‑downs

• Shop Multiple Lenders — Rates vary more than you think

When Waiting Might Make Sense

• If you’re unsure about your long‑term plans

• If your credit score needs significant improvement

• If you don’t yet have funds for a down payment and closing costs

How Nik Shewmaker REALTOR Helps

• Market Insight: I’ll help you understand whether your target neighborhood is trending up, down, or holding steady.

• Lender Connections: Access to trusted lenders offering competitive rates and creative financing options.

• Negotiation Expertise: Ensures you get the best deal possible in today’s rate environment.

Final Thoughts

Interest rates shouldn’t be the only factor in your decision to buy. If you’re financially stable, ready to commit to Nashville for several years, and find a home you love, it can still be the right time to buy — especially with the option to refinance later.

Call to Action

If you’re wondering whether now is the right time to buy a home in Nashville, contact Nik Shewmaker REALTOR today for a personal market analysis and financing review.

Nik Shewmaker (NashvillesNik)

📲 Call or text (615) 585-0022

📧 Email: Nashvillesnik@gmail.com

🌐 Visit: www.NashvillesNik.com