Home Value Trail

Nashville-Davidson--Murfreesboro--Franklin, TN metro area: home price history and building permits

Tennessee14 counties2,197,416 residents (2025 estimate)

  • FHFA quarterly index to 2026 Q2
  • FHFA annual index 1975 to 2025
  • Developmental index
  • Release of

The FHFA annual house price index for Nashville-Davidson--Murfreesboro--Franklin, TN increased by 121.8% from 2015 to 2025. From 2020 to 2025, the index increased by 56.0%. From 2024 to 2025, the index increased by 1.6%. From 2025 Q2 to 2026 Q2, the quarterly index increased by 1.6%.

2015

+121.8%

From 2015 to 2025, the FHFA annual all-transactions index for Nashville-Davidson--Murfreesboro--Franklin, TN increased by 121.8%.

From 2015 to 2025, the average change in each year is +8.3%, compounded.

Same span at each level: 2015 to 2025
AreaChangeBar
Nashville-Davidson--Murfreesboro--Franklin, TN+121.8%
Tennessee+113.5%
United States+85.0%
Nashville-Davidson--Murfreesboro--Franklin, TN FHFA quarterly all-transactions index, 100 in 1979 Q2
  • Nashville-Davidson--Murfreesboro--Franklin, TN
  • United States, set to the same start
  • Recession (NBER dates)
  • Your span

The line is FHFA's quarterly index, through 2026 Q2. The calculator and the tables use FHFA's annual index of the area.

Index values for each year
FHFA annual all-transactions index for Nashville-Davidson--Murfreesboro--Franklin, TN, 1975 to 2025
YearIndexChange from the year before
20251,263.65+1.6%
20241,244.22+4.1%
20231,194.83+5.2%
20221,135.47+22.6%
2021926.32+14.3%
2020810.24+3.9%
2019779.50+5.6%
2018738.29+8.5%
2017680.50+9.4%
2016621.91+9.2%
2015569.69+7.5%
2014530.07+7.7%
2013492.14+3.5%
2012475.68−0.3%
2011477.30−2.4%
2010488.79−3.6%
2009506.89−3.2%
2008523.51+0.6%
2007520.49+5.0%
2006495.81+8.7%
2005456.03+7.3%
2004424.99+3.8%
2003409.57+1.5%
2002403.38+2.3%
2001394.48+3.7%
2000380.33+3.6%
1999367.07+3.2%
1998355.77+4.2%
1997341.35+5.7%
1996323.01+5.5%
1995306.29+8.1%
1994283.28+7.1%
1993264.62+2.9%
1992257.20+1.9%
1991252.31+0.2%
1990251.71−0.2%
1989252.11+0.2%
1988251.67+3.0%
1987244.45+6.4%
1986229.65+7.4%
1985213.90+6.1%
1984201.59+7.7%
1983187.15+7.2%
1982174.52+7.7%
1981162.10+2.4%
1980158.33+4.2%
1979152.00+8.5%
1978140.09+22.2%
1977114.62+7.2%
1976106.97+7.0%
1975100.00n/a

Each figure is the change of the FHFA annual all-transactions index, from the year that you pick to 2025. It is a change for the area. It is not the change in the value of your home, and it does not use the price that you paid.

The average for each year is a compounded annual change. The guide to values explains more.

When using the FHFA House Price Calculator, please note that it does not project the actual value of any particular house.

FHFA, about its own House Price Calculator: Federal Housing Finance Agency, House Price Index Datasets, HPI Calculator, copied on . The calculator of FHFA uses quarterly figures. For the states and the 100 largest metro areas it uses the purchase-only index. Its figures can differ from the figures here.

Since the last FHFA release

No recorded FHFA release changed a figure of Nashville-Davidson--Murfreesboro--Franklin, TN. The record of releases starts with the next FHFA release. FHFA releases recorded by this site

Same span, every level

Change in the FHFA annual index to 2025: Nashville-Davidson--Murfreesboro--Franklin, TN and the areas above it
Area1 year2024 to 20255 years2020 to 202510 years2015 to 202520 years2005 to 2025Since 20002000 to 2025Each yearaverage of 10 years
Nashville-Davidson--Murfreesboro--Franklin, TN+1.6%+56.0%+121.8%+177.1%+232.3%+8.3%
Tennessee+2.4%+59.5%+113.5%+139.6%+186.3%+7.9%
United States+2.8%+47.0%+85.0%+79.1%+158.3%+6.3%

Each row uses FHFA's annual all-transactions index and the same two years.

Drawdowns

A drawdown is a decline of 5% or more of the annual index from a peak.

Drawdowns of the index of Nashville-Davidson--Murfreesboro--Franklin, TN, deepest first
PeakLowDeclineBack at the peak
20082012−9.1%2014

Decade by decade

Change in the index of Nashville-Davidson--Murfreesboro--Franklin, TN in each decade
DecadeChangeUnited StatesBar
1980s1980 to 1990+59.0%+68.2%
1990s1990 to 2000+51.1%+33.9%
2000s2000 to 2010+28.5%+29.7%
2010s2010 to 2020+65.8%+35.5%
2020s so far2020 to 2025+56.0%+47.0%

The index is 100 in the first year with a value for the area (1975 here). The change in a decade is the index at the end of the decade divided by the index at the start. The base year has no effect on it.

Building permits in the area

In the 12 months to August 2026, building permits in the 14 counties of the area authorized 16,971 housing units. That is 7.7 units for each 1,000 residents.

Housing units authorized by month, latest 60 months
  • Units in buildings with 1 unit
  • Units in buildings with 2 or more units
Units for each month
Housing units authorized by building permits in the Nashville-Davidson--Murfreesboro--Franklin, TN metro area, by month
MonthAll units1 unit2 or more units
Aug 20261,4961,209287
Jul 20261,4721,047425
Jun 20261,4521,205247
May 20261,2761,156120
Apr 20261,9411,165776
Mar 20261,2111,19417
Feb 20261,02895573
Jan 20261,248782466
Dec 20251,303946357
Nov 20251,512864648
Oct 20251,445993452
Sep 20251,5871,004583
Aug 20251,4081,037371
Jul 20252,0991,223876
Jun 20251,8721,264608
May 20251,4061,31690
Apr 20251,6421,384258
Mar 20252,0151,289726
Feb 20251,4921,010482
Jan 20251,5691,011558
Dec 20241,260871389
Nov 20241,633923710
Oct 20241,1201,06753
Sep 20242,2051,1241,081
Aug 20241,4471,318129
Jul 20241,5931,327266
Jun 20241,3411,29348
May 20242,3451,462883
Apr 20242,0211,305716
Mar 20241,4701,221249
Feb 20242,0151,275740
Jan 20241,5041,126378
Dec 20231,1431,028115
Nov 20231,596971625
Oct 20231,8021,179623
Sep 20231,2301,066164
Aug 20232,8371,3711,466
Jul 20231,3921,30686
Jun 20231,7271,494233
May 20232,1431,503640
Apr 20233,4161,3122,104
Mar 20231,8281,330498
Feb 20232,9349781,956
Jan 20231,112909203
Dec 20221,022657365
Nov 20221,01595758
Oct 202290984861
Sep 20221,2201,19723
Aug 20221,2161,14472
Jul 20221,2061,10997
Jun 20221,6481,442206
May 20221,5871,482105
Apr 20222,0431,614429
Mar 20222,1552,030125
Feb 20221,5471,44899
Jan 20222,6211,3781,243
Dec 20212,7609721,788
Nov 20212,1319981,133
Oct 20211,735977758
Sep 20211,517937580
Housing units authorized by year, 1995 to 2025
  • Units in buildings with 1 unit
  • Units in buildings with 2 or more units
Units for each year
Housing units authorized by building permits in the Nashville-Davidson--Murfreesboro--Franklin, TN metro area, by year
YearAll units1 unit2 or more units
202519,20313,2675,936
202420,03814,4655,573
202323,67613,9609,716
202228,43815,50712,931
202132,32217,55114,771
202027,24215,63111,611
201922,81214,5648,248
201819,15913,4705,689
201720,63113,6506,981
201620,18212,8307,352
201518,29111,4176,874
201414,9449,0755,869
201311,5787,6973,881
20128,7895,8822,907
20115,7964,4871,309
20105,4334,2791,154
20095,3004,324976
20088,8166,2912,525
200714,86012,0392,821
200617,28315,6251,658
200518,59016,0002,590
200417,98314,5673,416
200314,93612,9042,032
200213,02811,8821,146
200113,00111,2531,748
200011,4949,5501,944
199914,54211,8502,692
199811,11411,1140
199710,22410,2240
199610,95410,9540
19959,8139,8130

The counts are the sums of the county files of the Building Permits Survey for the counties of the area (OMB delineation of July 2023).

Counties of the area

Counties of the Nashville-Davidson--Murfreesboro--Franklin, TN metro area, by name
CountyState1 year10 yearsUnits, 12 months
Cannon CountyTN+8.9%+148.1%75
Cheatham CountyTN−0.1%+121.4%200
Davidson CountyTN+1.0%+115.7%4,982
Dickson CountyTN+1.7%+126.0%457
Hickman CountyTN+3.1%+136.6%117
Macon CountyTN+6.2%+139.9%172
Maury CountyTN+4.2%+152.5%1,438
Robertson CountyTN+2.1%+121.3%867
Rutherford CountyTN0.0%+131.2%3,490
Smith CountyTN+6.1%+147.6%146
Sumner CountyTN+1.8%+124.7%1,407
Trousdale CountyTN+1.9%+149.5%113
Williamson CountyTN+2.8%+128.3%1,792
Wilson CountyTN+2.0%+118.2%1,715

Agency pages

  • FHFA House Price IndexFederal Housing Finance AgencyThe index page of FHFA: data, tools and the release dates.
  • FHFA HPI CalculatorFederal Housing Finance AgencyThe calculator of FHFA. It works by quarter, for a state or a metro area.
  • Building Permits SurveyUS Census BureauThe survey of housing units that building permits authorize.

Each link loaded on .

Cite this page

Home Value Trail. Nashville-Davidson--Murfreesboro--Franklin, TN home price history. https://homevaluetrail.com/metro/34980-nashville-davidson-murfreesboro-franklin/. Source: Federal Housing Finance Agency, annual house price index for CBSAs (developmental); US Census Bureau, Building Permits Survey. FHFA release of .

Where the figures come from

Index
FHFA annual house price index for CBSAs, all transactions, 1975 to 2025. Release of March 31, 2026. The line: FHFA quarterly all-transactions index for the metropolitan area, through 2026 Q2.
Other levels
FHFA annual indexes for the states and the United States, from the same release.
Building permits
US Census Bureau, Building Permits Survey, county files through August 2026, added for the counties of the area.
Counties of the area
OMB delineation of core based statistical areas, July 2023.
Residents
US Census Bureau, population estimates for 2025.

All files are works of the US government, in the public domain. To report an error, see Corrections.

Questions

Which years had the largest changes in the index for Nashville-Davidson--Murfreesboro--Franklin, TN?
The largest increase in one year was 22.6%, from 2021 to 2022. The largest decrease in one year was 3.6%, from 2009 to 2010.
How did the index for Nashville-Davidson--Murfreesboro--Franklin, TN change over 20 years?
From 2005 to 2025, the index for Nashville-Davidson--Murfreesboro--Franklin, TN increased by 177.1%. In the same years, the index for Tennessee increased by 139.6%. In the same years, the index for the United States increased by 79.1%.
What is the highest value of the index for Nashville-Davidson--Murfreesboro--Franklin, TN?
The index is 100 in 1975, the first year with a value for this area. The highest annual value is 1,263.65, in 2025.
Which counties are in the Nashville-Davidson--Murfreesboro--Franklin, TN area?
The area has 14 counties in the delineation of July 2023. The Census Bureau estimates 2,197,416 residents for 2025.