How many more houses the Nashville area needs to meet demand is influenced by the cost to borrow. Extremely low interest rates in 2020 and 2021 led to an enormous gap between how many homes our market could absorb and how many were for sale.
Time equals freedom, and long commutes just add to the time that working to make a living takes from what could be family, fun, rest, or sleep time.
When people start to really contemplate their commute times and put a premium on their distance from work, that creates demand in urban neighborhoods.
Like a tended child or an orderly office, a well-loved home is apparent to everyone who sees it. A well-loved home can sometimes appeal to Buyers more than a new home, if the improvements make it seem more “finished”. The reverse is also true in that a home where repairs and improvements are left undone can scare Buyers away.