Nashville Auction Clearance Rates Drop to 62%

Nashville recorded a 62 percent auction clearance rate for residential properties in the April-to-June period, the lowest quarterly figure since early 2023.

The drop arrives as mortgage rates hover near 6.8 percent and inventory in established neighborhoods has risen 19 percent year over year, giving buyers more choices and less urgency at the block.

Neighborhood results and local programs

In the 12 South neighborhood, three of five listed homes passed in at auction last month, including a four-bedroom on 12th Avenue South that failed to meet its $1.15 million reserve. West End listings fared better, with four of six homes selling under the Metro Nashville Land Bank program that targets infill parcels near Centennial Park. The two unsold properties there carried reserves above $900,000.

Clearance rates at the block serve as an early indicator because auctions expose true buyer appetite before listings linger on the multiple-listing service. When clearance falls below 65 percent, median days on market typically lengthen by three to four weeks within the same zip codes, according to data compiled by the Greater Nashville Realtors through June 30.

Price movements and next steps

Median auction prices for cleared properties reached $487,000, down $18,000 from the same quarter last year. Properties that cleared under the $400,000 threshold sold in an average of nine days, while those above $700,000 took 27 days when they sold at all.

Buyers watching the market should review the weekly auction calendar posted by the Davidson County Chancery Court and attend at least two sessions before making an offer. Sellers considering auction should set reserves no higher than recent comparable sales within a three-block radius, or risk the property returning to the open market with reduced momentum.