If you’ve been following our housing market in Rutherford County, you know it’s been a roller coaster ride lately—especially with interest rates and inventory levels fluctuating. Let's dive into the most recent statistics and shed some light on the factors influencing local market trends, which offer some insight for both buyers and sellers navigating these unpredictable times.



Closed Sales Are Down Again

• Closed Sales: We’re down 18% over last February. That’s on top of another 18% year-over-year dip in January—a notable slowdown compared to what we’ve seen in previous years.
• Days on Market: Homes are staying on the market 10 days longer than they did last year at this time, rising from 31 days to 41 days. That’s also an 8-day jump from last month.

Key Takeaway: The market isn’t as brisk as it was a year ago. If you’re selling, be prepared for a slightly longer timeline to get your home under contract. If you’re buying, you may have a bit more breathing room to weigh your options—but beware that changing mortgage rates can affect affordability.

Builders Are Offering Significant Incentives

Some national homebuilders, publicly held companies like Lennar, have found themselves with more completed homes than usual—so they’re taking extra steps to attract buyers:

• Price Reductions: We've recently seen $60,000 price drops on move-in-ready homes.
• Rate Buydowns: Builders are often willing to negotiate lower mortgage rates for buyers, securing rates as low as 4.8%.

Key Takeaway: If you’re looking for new construction, now might be a particularly good time to explore your options. You may find deep discounts and better mortgage rates through a builder’s preferred lender.

The Role of Mortgage Rates

Interest rates have been the biggest driver behind the slowdown. After creeping up in December and January, they began to come down slightly in February—but rates are still hovering around 6.75% for a conventional mortgage. When rates go above 7%, the market tends to cool off; when they dip closer to 6.5% or below, activity tends to pick back up.

Key Takeaway: If you’re on the fence about buying, pay attention to how rates fluctuate. Even a small change can have a noticeable impact on your monthly payment and overall affordability.

Looking Ahead

We suggest keeping a close eye on those interest rates. A further decline could help the market regain some momentum. However, if rates creep back up, expect to see the market continue at a slower pace in the coming months. As always, if you are interested in even more in-depth local market data we've made it available for you on our website HERE. 

Need Real Estate Advice?

Wondering if a new construction home—with incentives like rate buy-downs—is right for you? Our local market experts are here to guide you through every step of the process. Give us a call at 615-867-3020, and we’ll help you navigate today’s market with confidence.