Nashville-Davidson--Murfreesboro--Franklin, TN metro: mortgages and home buyers
2025 home-purchase and refinance statistics for the 14-county Nashville-Davidson--Murfreesboro--Franklin, TN area (OMB code 34980), from official HMDA records.
In 2025, lenders reported 25,475 home-purchase mortgages for owner-occupied, single-family homes in the Nashville-Davidson--Murfreesboro--Franklin, TN metro area. The median buyer borrowed $395,000 on a home valued at $475,000 and reported a household income of $125,000.
Buyers financed a median 89.8% of the home's value (roughly 10.2% down), paid a median 6.50% on 30-year fixed conventional loans and faced median conventional loan costs of $5,540.
Lenders denied 7.3% of completed home-purchase applications.
Key facts
- The median 30-year fixed conventional rate here was 13 basis points below the U.S. median (6.625%).
- The most common age bracket among borrowers was 25–34 (34.1% of purchase loans).
- 49.2% of purchase mortgages had a single borrower with no co-applicant.
- The most-cited reason for denial was debt-to-income ratio (42.9% of denials with a stated reason).
Counties in the metro area
| County | Purchase loans | Median loan | Buyer income | 30-yr rate | Loan costs | Conforming limit | FHA limit |
|---|---|---|---|---|---|---|---|
| Davidson County, TN | 7,387 | $405,000 | $127,000 | 6.500% | $5,460 | $1,029,250 | $1,029,250 |
| Rutherford County, TN | 4,311 | $385,000 | $110,000 | 6.500% | $5,970 | $1,029,250 | $1,029,250 |
| Williamson County, TN | 3,439 | $665,000 | $212,000 | 6.625% | $6,390 | $1,029,250 | $1,029,250 |
| Sumner County, TN | 2,922 | $365,000 | $117,000 | 6.500% | $5,480 | $1,029,250 | $1,029,250 |
| Wilson County, TN | 2,547 | $405,000 | $128,000 | 6.490% | $5,010 | $1,029,250 | $1,029,250 |
| Maury County, TN | 1,703 | $355,000 | $112,000 | 6.500% | $4,840 | $1,029,250 | $1,029,250 |
| Robertson County, TN | 1,108 | $345,000 | $100,000 | 6.500% | $4,030 | $1,029,250 | $1,029,250 |
| Dickson County, TN | 659 | $325,000 | $102,000 | 6.625% | $5,010 | $1,029,250 | $1,029,250 |
| Cheatham County, TN | 511 | $365,000 | $113,000 | 6.500% | $4,660 | $1,029,250 | $1,029,250 |
| Macon County, TN | 249 | $285,000 | $88,000 | 6.625% | $4,730 | $1,029,250 | $1,029,250 |
| Hickman County, TN | 193 | $285,000 | $93,000 | 6.625% | $5,140 | $1,029,250 | $1,029,250 |
| Smith County, TN | 201 | $295,000 | $89,000 | 6.625% | $5,240 | $1,029,250 | $1,029,250 |
| Cannon County, TN | 126 | $315,000 | $105,000 | 6.625% | $5,220 | $1,029,250 | $1,029,250 |
| Trousdale County, TN | 119 | $355,000 | $109,000 | 6.625% | $5,610 | $1,029,250 | $1,029,250 |
Who bought homes in Nashville
Home-purchase mortgages for owner-occupied, single-family (1–4 unit) site-built homes, first liens, originated in 2025.
Values are medians; "middle half" is the 25th to 75th percentile.
Loan type
What the homes were for
All first-lien, closed-end purchase mortgages, including second homes and investors.
Borrower age
Debt-to-income ratio
Monthly debts (including the new payment) as a share of income, as used in underwriting.
What borrowing cost in Nashville
Medians for 2025 home-purchase loans. Total loan costs are section D of the Loan Estimate/Closing Disclosure (lender and third-party loan charges, excluding taxes, prepaids and escrow). FHA and VA costs include the upfront mortgage insurance premium or VA funding fee, so compare like with like.
| Measure | Nashville | U.S. |
|---|---|---|
| 30-year fixed rate · conventional | 6.500% | 6.625% |
| 30-year fixed rate · FHA | 6.125% | 6.250% |
| 30-year fixed rate · VA | 6.124% | 6.125% |
| 15-year fixed rate · conventional | 5.750% | 5.875% |
| Rate spread vs. APOR · conventional | +0.06 pts | +0.13 pts |
| Total loan costs · conventional | $5,540 | $5,570 |
| Total loan costs · FHA | $12,960 | $11,310 |
| Total loan costs · VA | $6,570 | $6,490 |
| Origination charges (all loan types) | $2,130 | $1,860 |
| Borrowers paying discount points | 57.3% | 51.3% |
| Points paid, when paid (% of loan) | 1.00% | 0.87% |
| Borrowers receiving lender credits | 31.1% | 33.1% |
| Adjustable-rate mortgages | 8.3% | 7.4% |
| Jumbo loans (above conforming limit) | 5.7% | 3.8% |
Medians are shown only when at least 30 loans report the field. Rates are those reported at closing; market rates changed during 2025, which the rate spread (APR minus the average prime offer rate on the lock date) adjusts for.
Approvals and denials
Nashville: 2,076 of 28,332 completed home-purchase applications were denied (7.3%).
Denial rate
| Application | Nashville | U.S. |
|---|---|---|
| Home purchase | 7.3% | 8.5% |
| Conventional | 6.2% | 7.1% |
| FHA | 10.8% | 12.5% |
| VA | 7.7% | 8.0% |
| USDA | 11.8% | 12.5% |
| Refinance | 15.7% | 17.9% |
| Cash-out refinance | 28.1% | 33.6% |
Main reason for purchase denials
First reason the lender reported.
Denial rate = denied ÷ (originated + approved but not accepted + denied). Withdrawn and incomplete applications are excluded. Differences between places reflect who applies, not only lender behavior.
Refinancing in Nashville
Source: FFIEC/CFPB HMDA 2025 public LAR (derived MSA/MD); OMB July 2023 delineations via the U.S. Census Bureau. Methodology