Nashville-area home sales picked up in February as inventory expanded and mortgage rates stayed near 6%

February closings rebounded after January disruptions, while buyers saw more choices across Middle Tennessee

Home sales activity across the Greater Nashville area increased in February, with 2,133 closings recorded for the month, reflecting a market that resumed momentum after weather-related delays earlier in the year. The February performance coincided with a larger number of homes available for purchase and borrowing costs that, while still elevated by recent historical standards, remained close to the 6% range for a 30-year fixed-rate mortgage.

The regional figures cover multiple counties in Middle Tennessee and are commonly used as a barometer for Nashville’s broader housing conditions. February’s results also included 2,433 pending sales at month’s end, an indicator of near-term demand because it reflects signed contracts that have not yet closed.

Inventory climbed, shifting negotiating conditions

Supply continued to build. Available inventory reached 12,315 properties for sale, representing a noticeable expansion from year-earlier levels and adding options for buyers who faced tight selection through much of the post-pandemic period.

Market timing also pointed to more measured conditions. The average time on market for a single-family home was reported at 72 days, signaling that listings generally required longer marketing periods than in prior peak years. Longer marketing times often coincide with a higher likelihood of concessions, renegotiations after inspections, and pricing adjustments, particularly when buyers have more alternatives.

• Closings (February): 2,133

• Pending sales (end of February): 2,433

• Active inventory: 12,315

• Average days on market (single-family): 72

Prices remained high, with different signals across property types

Pricing in the region remained elevated. The median price for single-family homes was reported at $499,900, while the median condominium price was $338,500. Condo pricing, in particular, drew attention because it reflected a lower level than the prior year’s February benchmark in the same regional tracking.

With inventory higher and homes taking longer to sell, the market is showing clearer signs of balance than in recent years.

Mortgage rates: supportive, but still a constraint

National mortgage-rate averages remained a key factor shaping affordability. The weekly average for a 30-year fixed-rate mortgage was 6.22% as of March 19, 2026, rising from 6.11% the prior week. Even small weekly changes can affect monthly payments, influencing how quickly buyers can act and how sellers position pricing.

For Nashville-area participants, February’s data suggests a market with improving transaction flow, a larger pool of active listings, and more time for due diligence—conditions that contrast with the rapid, low-inventory environment that defined much of the earlier decade.