Nashville Multifamily Market Report – January 2025

Market Overview

Nashville recorded over 14,400 units under construction in Q1 2025, positioning it among the most active development markets in the nation. The metro’s 2024 population was over 2 million, fueled by migration from higher-cost coastal markets. Despite slower rent growth, absorption exceeded deliveries for the third consecutive quarter, and occupancy stabilized at 91.7%. Development is heaviest in Downtown, Southeast Nashville, and emerging suburban corridors like Lebanon and Spring Hill. Fundamentals appear to be turning a corner as construction activity moderates and demand remains resilient.

About Yardi Matrix

Yardi Matrix is one of the most comprehensive real estate data platforms in the U.S., delivering detailed analytics on rent performance, construction pipelines, and submarket trends. Headquartered in Scottsdale, Arizona, Yardi serves institutional investors, operators, and lenders with data across 160+ metros. Their Nashville reports combine granular neighborhood-level tracking with sophisticated forecasting tools, making them indispensable for underwriting and strategic planning.