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A daily look at the most significant and interesting stories affecting Nashville. Written by Nate Rau and Adam Tamburin.

Axios Nashville Thought Bubble

Axios Nashville

A record-setting $50 million listing is just one indicator of Nashville's growing luxury real estate market.

The big picture: Despite inventory being short, there's been more activity in the luxury range — defined here as any listing over $2 million.

In the last year, there have been 275 sales of over $2 million in the Nashville area.

In April 2022, there were 33 luxury closings with an average of 26 days on market.

The median list price in the luxury range was $3.5 million.

Chart: Axios Visuals; Source: Greater Nashville Realtors

What's happening: Every year, as home values soar and more record-breaking sales take place, the luxury list prices get even more luxe. 

Steve Fridrich, president of Fridrich & Clark Realty, said any listing over $2 million would've been called luxury two years ago. Now that minimum should be more like $4 million, he says.

What's next: Luxury market home prices are only going up.

Here are the priciest Nashville homes, right now.

Specs: 5 bedrooms, 10 bathrooms, 19,811 square feet

Features: Top-of-the-line everything, tennis courts, stunning pool and more on 59 acres

Specs: 5 bedrooms, 6 bathrooms, 8,938 square feet

Features: Library, barn, two-bed renovated guest house, all ensuite bedrooms upstairs, double-decker front porch and a movie theater, all on 22 acres

Specs: 5 bedrooms, 7 bathrooms, 11,034 square feet

Features: Pool with waterfall, outdoor living and kitchen area, and lush landscaping on over 8 acres

Photo: courtesy of listing agent Karen Russell

Specs: 2 bedrooms, 2.5 bathrooms, 4,374 square feet

Features: Two-story penthouse, six-car garage, floor-to-ceiling windows and sweeping views

Photo: courtesy of listing agent Richard Courtney

Nashville's luxury housing market explodes. Plus: 4 pricy listings

Despite inventory being short, there's been more activity in the luxury range.

Photo: Courtesy of listing agent Karen Russell

5836 Hillsboro Pike; Photo: courtesy of listing agent Karen Russell

Real estate

A record-setting <a class="gtmContentClick" data-vars-link-text="$50 million listing" data-vars-click-url="https://www.axios.com/local/nashville/2022/05/13/see-inside-nashvilles-most-expensive-home-listed-at-50m" data-vars-content-id="5c527c03-51a7-4880-9e07-5cc1e7ee3c9f" data-vars-headline="Nashville&#x27;s luxury housing market explodes. Plus: 4 pricy listings" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/nashville/2022/05/13/see-inside-nashvilles-most-expensive-home-listed-at-50m" target="_self">$50 million listing</a> is just one indicator of Nashville&#x27;s growing luxury real estate market.The big picture: Despite inventory being short, there&#x27;s been more activity in the luxury range — defined here as any listing over $2 million.

Real Estate

This sprawling Chickering Road estate is the most expensive home to ever hit the market in Nashville.

Background: 1304 Chickering Rd. belongs to HCA Healthcare co-founder Tommy Frist.

The Frist family purchased the property for $2.2 million in 1993 and built the house in 2001, Axios' Nate Rau reported earlier this week.

The basics: At a cool 19,811 square feet, the estate has five bedrooms and six full and four half baths.

Price: The house is made with some of the finest craftsmanship you'll ever see, but you're paying for the grounds, says listing agent Steve Fridrich, president of Fridrich & Clark Realty.

Most lots in the area average an acre, though many on this stretch of Chickering are over 9 acres, he says. 

This 59-acre property includes tennis courts, a pool and pristine landscaping. 

Plus, an additional consecutive 9-acre lot is included in the $50 million price tag.

Design: Bunny Williams, one of the most well-respected interior designers of all time, designed the place. It's hard to believe no major changes have been made in the 21 years since it was built; the interior is truly timeless.

There's warm wood throughout the house, which makes it feel cozy, despite being palatial. You'll also see lots of playful upholstery and gorgeous wall coverings.

It has the charm of something built 100 years ago with all the modern finishes and features, Fridrich says.

The exterior is the epitome of Southern grandeur, with Georgian-style columns, numerous chimneys peering out of the roof and a double-decker porch.

 Nashville's most expensive home, listed at $50M

Nashville's most expensive home, listed at $50M views

Nashville's most expensive home, listed at $50M pool

See inside Nashville's most expensive home, listed at $50M

This sprawling Chickering Road estate is the most expensive home to ever hit the market in Nashville.Background: <a class="gtmContentClick" data-vars-link-text="1304 Chickering Rd" data-vars-click-url="https://fridrichandclark.com/listings/rt-2382356-1304-chickering-rd-nashville-tennessee-37215/?utm_source=newsletter&amp;utm_medium=email&amp;utm_campaign=sendto_localnewslettertest&amp;stream=top" data-vars-content-id="60f62f2a-4f73-4142-98cf-24deb5b855ba" data-vars-headline="See inside Nashville&#x27;s most expensive home, listed at $50M" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://fridrichandclark.com/listings/rt-2382356-1304-chickering-rd-nashville-tennessee-37215/?utm_source=newsletter&amp;utm_medium=email&amp;utm_campaign=sendto_localnewslettertest&amp;stream=top" target="_blank">1304 Chickering Rd</a>. belongs to HCA Healthcare co-founder Tommy Frist.<ul><li>The Frist family purchased the property for $2.2 million in 1993 and built the house in 2001, Axios&#x27; Nate Rau <a class="gtmContentClick" data-vars-link-text="reported" data-vars-click-url="https://www.axios.com/newsletters/axios-nashville-ec01abcb-358a-4392-bd52-7724f31dd279.html?utm_source=newsletter&amp;utm_medium=email&amp;utm_campaign=newsletter_axioslocal_nashville&amp;stream=top" data-vars-content-id="60f62f2a-4f73-4142-98cf-24deb5b855ba" data-vars-headline="See inside Nashville&#x27;s most expensive home, listed at $50M" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/newsletters/axios-nashville-ec01abcb-358a-4392-bd52-7724f31dd279.html?utm_source=newsletter&amp;utm_medium=email&amp;utm_campaign=newsletter_axioslocal_nashville&amp;stream=top" target="_self">reported</a> earlier this week.</li></ul>

Whether you're looking for a mountain house for groups or a romantic getaway for two, here are six beautiful Airbnb escapes, all under three and a half hours driving distance from Nashville.

1. Glamping dome in the Great Smoky Mountains

If you like your outdoor adventures to lean more luxe, a glamping dome might do the trick. 

Glamping dome in the Great Smoky Mountains

Sometimes the Airbnb is part of the experience, like with this Hobbit-themed tiny home.

Features: Unique stay, fire pit, Smoky Mountain views

Do a couples trip and play tourist for a weekend with this two-bed secluded cabin, close to Dollywood. 

Features: Beautiful interior, hot tub, lots to explore close by

4. Treehouse near Gatlinburg/Pigeon Forge

Bring your childhood dreams to life with a sleepover in a grown-up treehouse. Unlike your childhood treehouse (probably), this one has a kitchen and a hot tub.

Features: Swinging seats, suspension bridge to crows nest deck, fire pit

5. Luxury mountain house for large groups

This cabin has everything you want for a group mountain trip: views, a hot tub, games, a 10-person dining table.

Features: Incredible views, custom house, sleeps 10

Space: 10 guests, 3 bedrooms, 3 bathrooms

Luxury mountain house for large groups bedroom

6. Luxe farmhouse near Arrington Vineyards

If you're looking for a change of scenery, consider a night or two on a farm. This luxury home sleeps 15, and you can throw a dinner party or other celebrations.

Features: Views, farm animals, concierge services available

Space: 15 guests, 5 bedrooms, 3.5 bathrooms

6 cool Airbnbs within driving distance from Nashville

Our list includes a treehouse near Gatlinburg/Pigeon Forge.

Luxury mountain house for large groups. Photo courtesy of Airbnb

Whether you&#x27;re looking for a mountain house for groups or a romantic getaway for two, here are six beautiful Airbnb escapes, all under three and a half hours driving distance from Nashville.

Things to Do

Rising mortgage rates are adding to the perfect storm putting pressure on the Nashville area's housing market.

National mortgage rates surpassed 5% — the highest it's been in more than a decade, according to data shared by Freddie Mac. 

Why it matters: Low mortgage rates made buying in a sellers' market more affordable in the pandemic.  

In March 2022, median home sale values in Nashville were up 23.9% year over year, and now borrowing money is more expensive, too. 

Already-fatigued buyers could be priced out of homes closer to the urban core.

What they're saying:  "We've got a storm," Brian Copeland, founder of Doorbell Real Estate and immediate past president of Greater Nashville Realtors, tells Axios.

Interest rates are combining with lightning-fast sales and Nashville's broad appeal to "create a supercell," he says.

Zoom out: Copeland says rising monthly mortgage payments continue to drive interest in surrounding counties where prices are more affordable.

Dickson, Robertson and Sumner counties are becoming more attractive to prospective buyers, Copeland says.

Copeland predicts interest will intensify just over the state line in Franklin, Kentucky.

"If someone wants to be in this market with these higher interest rates, they're going to have to look at commute time."

Data: Freddie Mac, Redfin; Chart: Simran Parwani/Axios

State of play: A year ago, mortgage rates were at 2.97%. In late April 2022, mortgage rates were at 5.11%.

By the numbers: If you were to take out a $300,000 30-year mortgage loan in April 2021, your monthly principal and interest would be around  $1,260, according to numbers shared by Freddie Mac. 

Your monthly payment on the same loan in April 2022 would be $1,631. 

That's $371 more per month, $4,452 a year and $133,560 more over the lifetime of your loan.

What's next: Mortgage rates are expected to rise throughout the year, averaging 4.6% for 2022 and 5% for 2023, according to Freddie Mac's trend forecast. 

So far in 2022, home prices haven't jumped drastically month to month, like they did in 2021.

But we're still in a critical supply crunch, so inventory would have to catch up to the remaining demand for prices to actually cool.

Surging mortgage rates make home buying more expensive in Nashville

Illustration of a house's roof being taken off by a trend line soaring upward through the home

Rising mortgage rates are adding to the perfect storm putting pressure on the Nashville area&#x27;s housing market.<ul><li><a class="gtmContentClick" data-vars-link-text="National mortgage rates surpassed 5%" data-vars-click-url="https://www.axios.com/2022/05/05/mortgage-rates-inflation-home-borrowing" data-vars-content-id="8b4fca00-5dce-46cb-8dcd-f9f9b5c2d711" data-vars-headline="Surging mortgage rates make home buying more expensive in Nashville" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2022/05/05/mortgage-rates-inflation-home-borrowing" target="_self">National mortgage rates surpassed 5%</a> — the highest it&#x27;s been in more than a decade, according to data shared by Freddie Mac. </li></ul>

Spring is here, which means we're ready to get our steps in. 

Here are few walking trails to add to your rotation. 

If you're looking for short, easy walk, this 2.8-mile stretch of greenway does the trick.

Parking: Antioch Community Center (5023 Blue Hole Rd.) and  Ezell Park, (5135 Harding Place)

Spend the day in nature with this trail that runs by Cumberland River and Bells Bend Park.

Parking: Outdoor Center (4187 Old Hickory Blvd.) and Poplar Hollow (4107 Old Hickory Blvd.)

Take in the city views along this long urban trail.

3 great walking trails near Nashville

Bells Bend Loop. Photo courtesy of AllTrails

Spring is here, which means we&#x27;re ready to get our steps in. <ul><li>Here are few walking trails to add to your rotation. </li></ul>

Brianna Crane

Featured stories

Nashville's luxury housing market explodes. Plus: 4 pricy listings

See inside Nashville's most expensive home, listed at $50M

Surging mortgage rates make home buying more expensive in Nashville

3 great walking trails near Nashville

6 cool Airbnbs within driving distance from Nashville