Nashville home prices cited for stability

Local market held out as an example of resilience despite national decline

Email | Print By Walker Duncan

Information out this afternoon in the Fiserv Case-Shiller Home Price Indexes uses Nashville’s home market as an example of a bright spot in a national market that has seen average prices fall by some 14 percent.

Contributing to our market’s relative resilience, the study claims, are the comparative affordability of Nashville homes and our job market, which has outpaced national growth figures in the last three years.

Nashville’s median home price has remained fairly steady at $156,000 over the last year. And while that figure is well below the national average of $196,000, Nashvillians on the whole pay a smaller portion of their household income on monthly mortgage payments.

While Nashville was chosen as the example, its results are not unique by any stretch, according to the report. Fiserv analyzed some 375 cities, with more than 63 percent of those showing year-over-year increases in home price.

In addition to Tennessee, other states showing pockets of resilience include Georgia, North Carolina, Texas and Colorado. On the flip side, the states showing the steepest declines include California, Florida, Nevada and Arizona.