HPI (2025)FHFA
332
Metro Series · South · Rank #36
Home Price History in Nashville
FHFA all-transactions House Price Index for the Nashville-Davidson--Murfreesboro--Franklin, TN metropolitan statistical area — annual data, 1975 through 2025, rebased to 100 in the year 2000.
YoY changeFHFA
+1.6%
5-yr changeFHFA
+56%
Since 2000FHFA
+232%
Nashville is one of the standout post-2012 boom metros. From 2012 to 2022 the FHFA index rose ~140% — one of the steepest decade-long appreciation runs in the country. Pandemic-era in-migration, music/entertainment industry stability, and the Tennessee no-income-tax advantage have driven sustained out-of-state buyer demand.
The 2007–2011 housing crisis cut the Nashville HPI by 9.1% peak-to-trough — from 137.7 in 2008 to 125.1 in 2012. For context, the U.S. national HPI fell roughly 24% over the same period, so Nashville was meaningfully less affected than the national average.
The pandemic-era surge brought the Nashville HPI from 204.9 in 2019 to 332.2 in 2025 — a cumulative +62.1% move in 6 years. Compared to the U.S. national HPI's roughly 50% gain over the same period, Nashville appreciated noticeably faster the national rate.
Located in the South region of the United States, Nashville is one of the 100 largest U.S. metropolitan statistical areas by population. Long-run housing appreciation in Nashville reflects a combination of regional employment trends, in-migration patterns, and local supply constraints. The full year-by-year FHFA HPI for Nashville is in the data table below.
To compare Nashville to the national U.S. housing market, see the national median price history dashboard. Other metros in the South region: see the full metro index. For state-level data, see the state index.
Annual data — Nashville
FHFA House Price Index, 2000=100. Annual data; not seasonally adjusted. Source: U.S. Federal Housing Finance Agency.
| Year | HPI (2000=100) | YoY change |
|---|---|---|
| 2025 | 332.25 | +1.56% |
| 2024 | 327.14 | +4.13% |
| 2023 | 314.16 | +5.23% |
| 2022 | 298.55 | +22.58% |
| 2021 | 243.56 | +14.33% |
| 2020 | 213.04 | +3.95% |
| 2019 | 204.95 | +5.58% |
| 2018 | 194.12 | +8.50% |
| 2017 | 178.92 | +9.42% |
| 2016 | 163.52 | +9.17% |
| 2015 | 149.79 | +7.48% |
| 2014 | 139.37 | +7.70% |
| 2013 | 129.40 | +3.46% |
| 2012 | 125.07 | -0.34% |
| 2011 | 125.50 | -2.35% |
| 2010 | 128.52 | -3.57% |
| 2009 | 133.28 | -3.17% |
| 2008 | 137.65 | +0.58% |
| 2007 | 136.85 | +4.98% |
| 2006 | 130.36 | +8.71% |
| 2005 | 119.91 | +7.31% |
| 2004 | 111.74 | +3.76% |
| 2003 | 107.69 | +1.54% |
| 2002 | 106.06 | +2.26% |
| 2001 | 103.72 | +3.72% |
| 2000 | 100.00 | +3.62% |
| 1999 | 96.51 | +3.18% |
| 1998 | 93.54 | +4.22% |
| 1997 | 89.75 | +5.68% |
| 1996 | 84.93 | +5.46% |
| 1995 | 80.53 | +8.12% |
| 1994 | 74.48 | +7.04% |
| 1993 | 69.58 | +2.88% |
| 1992 | 67.63 | +1.94% |
| 1991 | 66.34 | +0.24% |
| 1990 | 66.18 | -0.17% |
| 1989 | 66.29 | +0.18% |
| 1988 | 66.17 | +2.96% |
| 1987 | 64.27 | +6.44% |
| 1986 | 60.38 | +7.36% |
| 1985 | 56.24 | +6.11% |
| 1984 | 53.00 | +7.70% |
| 1983 | 49.21 | +7.23% |
| 1982 | 45.89 | +7.67% |
| 1981 | 42.62 | +2.38% |
| 1980 | 41.63 | +4.15% |
| 1979 | 39.97 | +8.53% |
| 1978 | 36.83 | +22.20% |
| 1977 | 30.14 | +7.15% |
| 1976 | 28.13 | +7.00% |
| 1975 | 26.29 | — |
Methodology
The FHFA House Price Index is a weighted, repeat-sales index that measures average price changes in repeat sales or refinancings on the same single-family properties. The all-transactions index incorporates both purchase mortgages and refinance appraisals; the index is calibrated to the South census region and rebased to 100 in the year 2000. Coverage begins in 1975 for Nashville.