Is Rutherford County’s Real Estate Market Shifting?

The Rutherford County real estate market continues to move in interesting ways, and if you’re considering buying or selling a home in Murfreesboro, Smyrna, La Vergne, or Eagleville, you’ll want to pay attention to the latest numbers. Real estate, much like the weather, moves in seasons—and right now, we’re seeing signs of a transition.

This week’s update shows some steady trends but also a few surprising shifts that could shape decisions for both buyers and sellers. You can watch the full breakdown here: 👉 Rutherford County Real Estate Market Update

Inventory and New Listings

As of this week, Rutherford County has 1,550 homes available for sale. That number has held fairly steady in recent weeks, hovering in the mid-1500s, suggesting the market has leveled out after months of fluctuation.

What’s more telling is the number of new listings. Only 78 homes were listed this week, compared to 98 during the same week last year. In fact, for five of the past six weeks, we’ve seen fewer new homes come to market than in 2024. This could reflect a slowdown in new construction, or perhaps homeowners waiting for stronger selling conditions before making a move.

Pending Sales and Closings

On the flip side, 118 homes went under contract this week, compared to 111 in the same period last year. That’s a positive sign that buyers are still active, especially considering the higher mortgage rate environment. There were also 68 closings, and when we look at the last three months combined, Rutherford County has seen 1,410 closings.

This steady pace of pendings and closings indicates that buyers are adapting to the current market and moving forward with their plans—often taking advantage of motivated sellers who are more willing to negotiate.

Market Balance and Buyer Leverage

Right now, Rutherford County is sitting at a 3.3-month supply of inventory. Traditionally, anything under five months is considered a seller’s market, but conditions on the ground tell a different story. Many sellers are offering concessions, whether that’s covering closing costs, contributing to rate buydowns, or making repairs to sweeten the deal.

This means that while the market may technically lean toward sellers, buyers actually have more leverage than they’ve had in years. It’s an unusual balance—by definition still a seller’s market, but one where buyers can negotiate favorable terms.

Price Reductions and Affordability

One of the clearest signals of seller motivation is the number of price reductions. In Murfreesboro, 36% of homes currently for sale have had a price drop, and in Smyrna, that number is 33%. For buyers, this presents opportunities to secure a home at a better price or with added incentives.

Mortgage rates are averaging 6.58%, slightly lower than earlier this summer, and mortgage applications are actually rising compared to last year. That combination—rates trending down while buyer demand inches up—could signal momentum building as we head into the fall.

That said, affordability is still a challenge. A recent Zillow study suggests that in Nashville, mortgage rates would need to fall to around 4.13% for the average home to be considered truly affordable. While that scenario is unlikely in the near term, it underscores the need for buyers to approach the market strategically.

The Bigger Picture

Looking back historically, Rutherford County’s market is much stronger today than during the pandemic years when inventory hit record lows. Compared to 2019, our inventory is actually 37% higher, giving buyers more choices than they’ve had in years.

At the same time, the higher-end price ranges are showing surprising resilience. Homes in the $700,000+ market currently sit at just three months of supply, and even the million-dollar range has remained relatively strong. This suggests that demand is present across all price points, not just in the entry-level market.

What This Means for You

If you’re a buyer, now is the time to explore your options. With more homes on the market, motivated sellers, and slight improvements in mortgage rates, you may find opportunities that weren’t available even a few months ago.

If you’re a seller, pricing and presentation remain critical. Homes that are priced correctly and marketed effectively are still selling, and in some cases selling quickly. But the days of overpricing and expecting multiple offers are behind us—for now, strategy matters more than ever.

Ready to Talk About Your Goals?

The real estate market in Rutherford County is constantly changing, and staying informed is key to making smart decisions. At the Turner Victory Team with Onward Real Estate, we track these numbers every week so our clients know exactly where they stand.

📱 Call or text: 615.586.0900
☎️ Office: 615.234.5020
🌐 Visit: TurnerVictory.com

And don’t miss our full video update: 👉 Watch the Rutherford County Real Estate Market Update on YouTube