Franklin Monthly Real Estate Recap: May 2025
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Winding down one school year and already looking ahead to the next. Our family spent the evening at the Franklin High School stadium as the marching band and color guard set the tone for Fall 2025.
This is a time of reset for a lot of us regarding school, work, vacations and every day life. Our Real Estate market seems to have taken a cue. A lot of flags waving, signaling a change, and kicking off a new era of Buying and Selling.
The New Era
If you've been following my blogs or social media posts, none of this will come as a surprise to you. But to sum it up, we have more Buyers in the market than we had this time last year and a hell of a lot more homes on the market than we have seen in 5 years.
This new era can be described as this: Stubborn yet "historically average" mortgage interest rates, more homes on the market than possibly ever, and between those two factors, a softening of prices among homes on the market.
To be clear: I am NOT talking about a crash. The "C" word has not been part of my vocabulary for almost two decades, especially in Williamson County, but also in Greater Nashville. This area still has an incredible amount of demand among Buyers shopping from outside of Tennessee which provides a floor to our prices (not a free fall).
Our median home prices in Williamson County have doubled since 2019, and while that's mind-blowing to us locals, we're still only selling at half of the median price of homes in Los Angeles, and about a quarter-million dollars less expensive than the median price in New York. Anyone looking to leave those states due to their rising costs of living is certainly still considering this area.
Don't get too excited, though, as a Seller. This new era also requires your best foot forward in presentation. With a higher price tag comes higher expectations (as with any product). The Sellers who can price realistically and present their home accordingly still have a shot at a quick and seamless sale. But not having the best price and presentation is a recipe for frustration right now. Our higher dollar homes carry higher expectations.
How High is our Home Value?
In Williamson County, we're registering an increase of 1% in our median home sale prices from April 2024 to April 2025. The median sales price of $1,000,000 is one of our top three median sales prices EVER in Williamson County, as indicated by the red dot.
May 2025's numbers will be out soon and I do NOT expect to see the insane boom we saw in May 2024. In fact, we will likely see a dip in this month's home sales prices when all is said and done, judging by pacing and subtle leading indicators already in the market.
And Speaking of Indicators
This inventory chart below shows what I mentioned earlier about having a lot more homes on the market these days. Again, the red dot indicating our most recent number of inventory in our local market. It's the highest number of homes For Sale that we've seen locally since 2019, climbing just over April 2024 levels. And my expectation is to see an even higher number for May 2025.
On a Smaller Scale - Grassland
Closer to home, we've had twice as many homes sell in Grassland comparing April 2024 to April 2025.
Our median sales price is $161,600 higher than this time last year and $152,000 higher than the county's median.
$1,151,600 to be exact. This is a 14% increase in our local median home prices year-to-year.
Average days on market is just over a month -- 32 DOM. This is the same as the county-wide DOM.
In Davidson County - Nashville
Median sales price is $521,000. This is a 2% decrease in Davidson County home sale prices year-to-year.
Active Inventory is up by almost 30% year-to-year, as is Days on Market. Though again, fewer homes are coming to market.
The Takeaway
Davidson County typically acts as a bellweather in our Greater Nashville market, especially for Williamson County. Comparing the two, Davidson County usually experiences slowdowns and decreases in price growth first and more severely. Williamson County is typically barely, if ever, scathed though we do experience our own version of these shifts.
It certainly feels like more of a Buyers market in most places across the United States right now, and even down to the Williamson County level. We are seeing Buyers walking away with more concessions beyond pricing. Home sale contingencies are back in the game and Closing cost concessions are up for consideration. This will likely continue for the remainder of 2025 (and possibly be felt even more deeply -- though not crazy) before a higher number of Buyers are lured back out into the market.
It certainly is a season of reset -- not just in the county but even closer to home in Franklin, where schools are out, students prep for Fall and families vacation before mandatory summer sports practices. Everyone with the same goal: To win here at home.
Schedule a chat with me ASAP: Click this Link!
Thinking of moving? Need a plan tailored to your needs? I'd love to help you. I'm a Franklin resident and a Multi-Platinum Award-Winning Williamson County REALTOR ranking in the top 1.5% of agents locally. I am a top producer within Benchmark Realty, the largest brokerage in Tennessee and among the largest in the country. My continuing education includes several designations and my experience keeps me up-to-date with fast-changing market trends. I am a Million-Dollar GUILD Member of the Luxury Home Marketing Institute, my market insights are regularly featured in broadcast media, and my success planted me on the front page of a December 2021 Nashville-area Magazine. But most importantly, I specialize in helping my friends and neighbors buy and sell homes. Why look further when you've got a friend and neighbor who is among the best in the business!?
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