Nashville Home Price Index Shows Modest Gains
Twenty states and the District of Columbia showed yearly and monthly increases in sales price. Tennessee was in the middle of the pack with a 1.5% yearly decrease and a 0.5% monthly price index decrease. I expect that the Tennessee numbers are skewed by the large number of distressed properties in Memphis. Nashville Metro Home Prices were down 0.7% over last year. With distressed properties removed, the Nashville Home Price Index increased by 0.8% over last year.