Metro area index
Home appreciation in the Nashville-Davidson--Murfreesboro--Franklin, TN metro area
FHFA HPI® data shows the Nashville-Davidson--Murfreesboro--Franklin, TN metro area's all-transactions index changed +1.6% over the year to Q2 2026, versus +2.6% for Tennessee and +3.0% for the U.S. That ranks 299th of 410 metro areas and divisions FHFA tracks.
- 1-year change
- +1.6%
- 5-year change
- +45.8%
- Since Q1 1995
- +385%
- Metro rank (1 year)
- 299th
U.S. +3.0%
U.S. +41.3%
U.S. +292%
of 410
Nashville-Davidson--Murfreesboro--Franklin, TN vs Tennessee and the U.S.
FHFA HPI® all-transactions index, rebased so Q1 1995 = 100, through Q2 2026
- Nashville-Davidson--Murfreesboro--Franklin, TN: 485.3
- Tennessee: 413.2
- United States: 391.6
Appreciation by time window
| Window | Metro | TN | U.S. | Gap vs TN | Gap vs U.S. |
|---|---|---|---|---|---|
| 1 year | +1.6% | +2.6% | +3.0% | −0.9 pts | −1.4 pts |
| 3 years | +9.0% | +11.8% | +12.9% | −2.8 pts | −3.8 pts |
| 5 years | +45.8% | +50.0% | +41.3% | −4.1 pts | +4.6 pts |
| 10 years | +119% | +119% | +93.3% | +0.3 pts | +26.1 pts |
| Since Q1 1995 | +385% | +313% | +292% | +72.0 pts | +93.7 pts |
3-digit ZIP regions in the Nashville-Davidson--Murfreesboro--Franklin, TN area
Regions with at least 10% of their 2010 population inside the metro, largest overlap first. A 3-digit ZIP region can extend beyond the metro boundary.
| 3-digit ZIP region | State | 1 year | 5 years | Since Q1 1995 | Population in metro |
|---|---|---|---|---|---|
| 372 · Nashville-Davidson, TN area | TN | +0.1% | +40.4% | +515% | 100% |
| 371 · Murfreesboro, TN area | TN | +1.7% | +47.6% | +343% | 81% |
| 370 · Nashville-Davidson, TN area | TN | +1.7% | +48.0% | +346% | 75% |
| 384 · Columbia, TN area | TN | +5.0% | +55.3% | +348% | 40% |
Boom, bust, and recovery in Nashville-Davidson--Murfreesboro--Franklin, TN area
Nashville-Davidson--Murfreesboro--Franklin, TN area's index peaked in Q1 2008, fell 9.0% to its low in Q2 2011, and regained its peak in Q2 2014, about 6.2 years after the top. Today it sits +162% versus that 2000s peak. How every state and ZIP region fared
| Area | 2000s peak | Low point | Peak to low | Back to peak | Today vs peak |
|---|---|---|---|---|---|
| Metro | Q1 2008 | Q2 2011 | -9.0% | Q2 2014 (6.2 yrs) | +162% |
| TN | Q1 2008 | Q2 2011 | -8.9% | Q2 2015 (7.2 yrs) | +134% |
| U.S. | Q1 2007 | Q2 2012 | -19.0% | Q4 2016 (9.8 yrs) | +89.3% |
Appreciation after inflation
Adjusting for consumer price inflation, Nashville-Davidson--Murfreesboro--Franklin, TN area's index has changed +119% in real terms since Q1 1995. Home prices vs inflation
| Window | Inflation (CPI-U) | Metro after inflation | TN after inflation | U.S. after inflation |
|---|---|---|---|---|
| 1 year | +3.9% | -2.1% | -1.2% | -0.8% |
| 3 years | +9.8% | -0.7% | +1.9% | +2.8% |
| 5 years | +24.0% | +17.6% | +20.9% | +13.9% |
| 10 years | +39.1% | +57.8% | +57.5% | +39.0% |
| Since Q1 1995 | +121% | +119% | +86.6% | +76.8% |
If you bought in the Nashville-Davidson--Murfreesboro--Franklin, TN area in…
An example $300,000 purchase grown at the metro index rate to Q2 2026.
| Bought in | Index change | $300,000 then, at the metro rate |
|---|---|---|
| Q2 1995 | +375% | $1,426,205 |
| Q2 2000 | +278% | $1,135,270 |
| Q2 2005 | +207% | $920,330 |
| Q2 2010 | +180% | $841,252 |
| Q2 2015 | +140% | $720,763 |
| Q2 2020 | +66.1% | $498,296 |
| Q2 2021 | +45.8% | $437,514 |
| Q2 2023 | +9.0% | $327,030 |
| Q2 2025 | +1.6% | $304,907 |
Frequently asked questions
- How much have home prices risen in the Nashville-Davidson--Murfreesboro--Franklin, TN area?
- FHFA HPI® data for the Nashville-Davidson--Murfreesboro--Franklin, TN metro area shows changes of +1.6% over one year, +45.8% over five years, and +119% over ten years to Q2 2026, and +385% since Q1 1995.
- Is the Nashville-Davidson--Murfreesboro--Franklin, TN area beating the national average?
- Over the past year the metro's index moved −1.4 pts versus the U.S.; over five years the gap is +4.6 pts.
- What area does this metro index cover?
- FHFA computes metro indexes using the counties in each OMB-defined metropolitan statistical area. The index covers the whole area, so individual neighborhoods and homes can differ from it.