Home sellers in Nashville outnumber buyers almost two to one, according to the latest estimates from Redfin.

Why it matters: It's a buyer's market in real estate, if you can afford it. The swell of options on the market is a major reversal from just a few years ago, when homebuyers were desperate to find a place to live, sending prices into the stratosphere.

The big picture: The trend is happening nationwide, but Nashville provides an even starker example of the shift. Middle Tennessee is one of the top buyers markets in the country, according to Redfin.

By the numbers: There were 90% more sellers than buyers in the Nashville area in April, per the data. The national gap is around 34%.

• The trend toward more sellers in the market is the strongest since Redfin started tracking the metric in 2013.

Flashback: Just two years ago, the dynamic was flipped, with buyers outnumbering sellers.

Between the lines: A buyers market offers shoppers more options and leverage to negotiate on price. Indeed, nearly two-thirds of homes in the Nashville area sold under asking price in the first part of the year, per Redfin.

Reality check: Buying a home is still far out of reach for many Nashvillians. A report released earlier this year found that buyers had to make $120,000 annually in order to afford the median-priced home in Middle Tennessee.

• A one-two punch of still high home prices and high mortgage rates has made it hard for buyers, especially first-timers, to find a place they can afford.
• Add to that the extreme economic uncertainty of 2025, when tariff news, layoff fears and layoffs have tamped down buyer demand.

State of play: The median price for a single-family home in the Nashville area in April was $467,178, which is about even with the price a year ago, according to Redfin.

The fine print: Redfin counted sellers as the number of active listings in a given area and created a model to estimate the number of buyers.

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Mayor Freddie O'Connell is defending his executive order that requires city agencies to report communication with federal immigration officials, saying it is an "appropriate, transparent measure."

Why it matters: Republican leaders have been ferociously critical of O'Connell's order, saying it amounted to obstruction of immigration enforcement.

• But O'Connell told reporters Friday that the order shows the community "nobody is trying to hide anything here."

The big picture: O'Connell updated an existing executive order following an immigration crackdown last month that resulted in nearly 200 arrests.

• The goal was to alert Metro sooner when city employees were aware of ICE activity.
• Republicans at every level of government seized on the order, saying O'Connell was trying to interfere with ICE actions. Republicans launched two congressional investigations into the matter.

Zoom in: Tennessee House Speaker Cameron Sexton issued a statement on Thursday calling on O'Connell to rescind the order, which he said forces city employees "to act as big brother."

• "This order has jeopardized the safety of federal and state agents to the extent that individuals are harassing and interfering in the lawful duty of these agents," Sexton said.

Driving the news: O'Connell downplayed the criticism last week.

• "Our focus is on participating in conversations," the mayor said. "We don't spend as much energy on statements."
• "I think if they have specific requests, we'll pay attention to those."

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Kilmar Abrego Garcia, who was wrongly deported to El Salvador, returned to the U.S. to face federal criminal charges out of the Middle Tennessee district court. (Axios)

• Veteran Nashville-based federal prosecutor Ben Schrader reportedly resigned over concerns that the choice to seek an indictment against Abrego Garcia was politically motivated. (ABC News)
• An arraignment is set for Friday in Nashville's federal courthouse.

⚠️ Beware of scammers who are sending text messages seeking money for bogus Tennessee traffic fines. (Tennessean)

💵 Nashville residents want to see more budget investments in affordable housing, employee raises and youth safety. (WPLN)

🦓 A pet zebra is going home after spending more than a week on the loose in Rutherford County. (WKRN)

Adam here! I was thrilled to see Nate take a much-deserved family vacation this month, but I am elated to welcome him back this week.

• In his honor, this week's Music Monday playlist is about coming back home after time on the road.

My favorite gem: "Back Home Again" by John Denver.

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Editor's note: Our colleague Kim Bojórquez, who writes for Axios Salt Lake City, recently visited Nashville. We're always curious how newbies see our city, so we asked her to share her thoughts on the trip.

Kim here! I made my way to Nashville to see my boyfriend compete in the Middle Tennessee Marsh Mayhem water polo tournament.

The big picture: It was a trip of firsts. I had never been to the city before and never witnessed a water polo match.

🍽️ State of plate: Highlights of my two-day trip included stops to Martin's Bar-B-Que Joint and Hattie B's Hot Chicken. Oh, I also had my first-ever Waffle House experience. (It wasn't as life-altering as people said it would be.)

• 🍦 On my final night, I went to Tipsy Scoop — and can't believe I've never thought of boozy ice cream before.

Plus: No trip to Music City is complete without live music. Maybe my favorite stop on this short trip was to the honky-tonk Robert's Western World.

What's next: Because my excursion was so short, I regret not being able to go to the National Museum of African American Music or the Johnny Cash Museum.

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