The Nail, April 2025

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THE

NAIL The official magazine of Home Builders Association of Middle Tennessee President Kelly Beasley Vice President Eli Routh Secretary/Treasurer Danny Clawson Executive Vice President John Sheley Editor and Designer Jim Argo Staff Connie Nicley Kim Grayson

THE NAIL is published monthly by the Home Builders Association of Middle Tennessee, a non-profit trade association dedicated to promoting the American dream of homeownership to all residents of Middle Tennessee.

SUBMISSIONS: THE NAIL welcomes manuscripts and photos related to the Middle Tennessee housing industry for publication. Editor reserves the right to edit due to content and space limitations.

POSTMASTER: Please send address changes to: HBAMT, 9007 Overlook Boulevard, Brentwood, TN 37027.

Phone: (615) 377-1055.

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FEATURES 9 2025 Spring Builders Show sponsorships available!

Exhibit booths SOLD OUT! Sign up now to participate as a sponsor at the association's 2025 Spring Fling & Builders Show, this May at the HBAMT.

11 Awards highlight top design trends for 2025

NAHB's Best in American Living Awards (BALA) showcased what the top design trends are for the coming year.

12 Secure your 2025 Parade Planbook Ad now

Secure your 2025 Parade of Homes Planbook ad today and reach potential customers for years to come.

DEPARTMENTS 6 News & Information 13 SPIKE Club Report 14 April Calendar 14 Chapters and Councils

ON THE COVER: New homes sales rose in February on slight rate declines and limited inventory.

See page 6 (six) for more details.

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NEWS&INFO

New home sales edge higher in February on slight rate decline

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slight decline in mortgage rates and limited existing inventory helped new home sales to edge higher in February even as housing affordability challenges continue to act as a strong headwind on the market.

Sales of newly built, single-family homes in February increased 1.8% to a 676,000 seasonally adjusted annual rate from a revised January number, according to newly released data from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.

The pace of new home sales in February was up 5.1% compared to a year earlier.

“New home sales have been roughly flat thus far in 2025, as ongoing limited inventory of existing homes in many markets continues to support the need for new homes,” said Buddy Hughes, chairman of the National Association of Home Builders (NAHB) and a home builder and developer from Lexington, N.C. “Although policy uncertainty may be holding back some home buyer and business decisions, builders have hope that regulatory reform and tax policy extension will act as tailwinds later this year.”

“Lower mortgage rates helped to lift demand in February, despite other near-term risks such as tariff issues and affordability concerns,” said NAHB Chief Economist Robert

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Dietz. “While new home inventory is at an otherwise elevated 8.9 months’ supply, total home supply—new and existing—is a relatively lean 4.2 months' supply for February.”

A new home sale occurs when a sales contract is signed, or a deposit is accepted. The home can be in any stage of construction: not yet started, under construction or completed.

In addition to adjusting for seasonal effects, the February reading of 676,000 units is the number of homes that would sell if this pace continued for the next 12 months.

New single-family home inventory in February continued to rise to a level of 500,000, up 7.5% compared to a year earlier. This represents an 8.9 months’ supply at the current building pace. The count of completed, ready-to-occupy homes available for sale increased again, rising to 119,000, up 35% from a year ago and marking the highest count since mid-2009.

The median new home sale price in February was $414,500, down 1.5% from a year ago.

The count of sales was supported by a gain of transactions priced between $300,000 and $400,000 in February.

Regionally, on a year-to-date basis, new home sales are up 12.4% in the South but are down 6.7% in the West, 13.5% in the Midwest and 50.8% in the Northeast. n

Advertise in

THE

NAIL For advertising rates and information, or to secure your ad, please email jargo@hbamt.org with your questions and requests.

Builder confidence down on cost uncertainty

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onstrained housing affordability conditions due to ongoing, elevated interest rates led to a reduction in single-family production to start the new year.

Economic uncertainty, the threat of tariffs and elevated construction costs pushed builder sentiment down in March even as builders express hope that a better regulatory environment will lead to an improving business climate.

Builder confidence in the market for newly built single-family homes was 39 in March, down three points from February and the lowest level in seven months, according to the most recent NAHB/Wells Fargo Housing Market Index (HMI).

“Builders continue to face elevated building material costs that are exacerbated by tariff issues, as well as other supply-side challenges that include labor and lot shortages,” said NAHB Chairman Buddy Hughes. “At the same time, builders are starting to see relief

on the regulatory front to bend the rising cost curve, as demonstrated by the Trump administration's pause of the 2021 IECC building code requirement and move to implement the regulatory definition of ‘waters of the United States’ under the Clean Water Act consistent with the U.S. Supreme Court’s Sackett decision.”

“Construction firms are facing added cost pressures from tariffs,” said NAHB Chief Economist Robert Dietz. “Data from the HMI March survey reveals that builders estimate a typical cost effect from recent tariff actions at $9,200 per home. Uncertainty on policy is also having a negative impact on home buyers and development decisions.”

The latest HMI survey also revealed that 29% of builders cut home prices in March, up from 26% in February. Meanwhile, the average price reduction was 5% in March, the same rate as the previous month. The use of sales incentives was 59% in March, unchanged from

Housing starts up in February, affordability concern remains

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imited existing inventory helped single-family starts to post a solid gain in February, but builders are still grappling with elevated construction costs stemming from tariff issues and persistent shortages related to buildable lots and labor.

Overall housing starts increased 11.2% in February to a seasonally adjusted annual rate of 1.50 million units, according to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.

The February reading of 1.50 million starts is the number of housing units builders would begin if development kept this pace for the next 12 months. Within this overall number, single-family starts increased 11.4% to a 1.11 million seasonally adjusted annual rate, the highest pace since February 2024.

The multifamily sector, which includes apartment buildings and condos, increased 10.7% to an annualized 393,000 pace.

“While solid demand and a lack of exist-

ing inventory provided a boost to single-family production in February, our latest builder survey shows that builders remain concerned about challenging housing affordability conditions, most notably elevated financing and construction costs as well as tariffs on key building materials,” said Buddy Hughes, NAHB chairman.

“Despite elevated interest rates and policy uncertainty, ongoing lean levels of single-family existing home inventory helped to boost single-family production in February,” said Jing Fu, NAHB senior director, forecasting and analysis. “NAHB forecasts that single-family starts will remain effectively flat in 2025 as prospects of a better regulatory business climate are offset by uncertainty on the tariff front. Meanwhile, multifamily construction is expected to remain soft in early 2025 due to challenging financing conditions, before stabilizing in the second half of the year.”

On a regional and year-to-date basis, com-

February.

Derived from a monthly survey that NAHB has been conducting for more than 35 years, the NAHB/Wells Fargo HMI gauges builder perceptions of current single-family home sales and sales expectations for the next six months as “good,” “fair” or “poor.” The survey also asks builders to rate traffic of prospective buyers as “high to very high,” “average” or “low to very low.” Scores for each component are then used to calculate a seasonally adjusted index where any number over 50 indicates that more builders view conditions as good than poor.

The HMI index gauging current sales conditions fell three points to 43 in March, its lowest point since December 2023. The gauge charting traffic of prospective buyers dropped five points to 24 while the component measuring sales expectations in the next six months held steady at 47.

Looking at the three-month moving averages for regional HMI scores, the Northeast fell three points in March to 54, the Midwest moved three points lower to 42, the South dropped four points to 42 and the West posted a two-point decline to 37. n

bined single-family and multifamily starts were 4.7% lower in the Northeast, 21.5% lower in the Midwest, 8.3% lower in the South and 20.2% higher in the West.

Overall permits decreased 1.2% to a 1.46-million-unit annualized rate in February and were down 6.8% compared to February 2024. Single-family permits decreased 0.2% to a 992,000-unit rate and were down 3.4% compared to the previous year. Multifamily permits decreased 3.1% to a 464,000 pace.

Looking at regional permit data on a yearto-date basis, permits were 30.1% lower in the Northeast, 2.3% higher in the Midwest, 2.1% lower in the South and 12.5% lower in the West.

The number of single-family homes under construction in February was down 6.7% from a year ago, at 640,000 homes. In February, the count of apartments under construction increased 0.3% to an annualized 772,000 pace.

It marks the first gain after 18 months of consecutive declines. But it was down 20% from a year ago. n

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Builders SHOW Exhibit Tent 13

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The Builders Show exhibit tent will be located on the south side side of of the the HBAMT HBAMT building building and and measure measure 120 120 xx 40 40 feet. feet SPACE HAS OUT! spaces. boastingEXHIBIT space forBOOTH forty-five (47) 10 x 5SOLD feet exhibit

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DON’T MISS OUT ON THIS TERRIFIC OPPORTUNITY! Return your registration form to the HBAMT today to reserve sponsorship!Exhibit Exhibit spaceare has sold out. your spaceyour or sponsorship! spaces limited to two per company.

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2025 SPRING BUILDERS SHOW REGISTRATION FORM

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I am registering as an: r EXHIBITOR - $620 per booth r SPONSOR - $550 Secure your spot today by returning the registration form

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EXHIBITORS: Top 3 booth location preferences (not guaranteed):

S H T BOO Number of booths you’reIpurchasing T UT $____________ HIB D payment*: O _______ E xX $620 = your total OL S r *Register me for the Builders Raffle held during the event. ________

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Your name: ______________________________________ Company: _______________________________________

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EXHIBITORS provided are provided exhibit inside the exhibit tent. below to space the HBAMT today!

SPONSORS enjoy all the benefits of an exhibitor, including access to the tent, without being provided exhibit space in the tent.

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I will pay an additional $50 entry raffle entry fee.

SPONSORS: will be charged $550.

Credit Card ______________________________________ Credit Card # ______________________ Exp. __________ Credit Card V-Code _______________

The “v-code” is found on the back of the card, usually printed or embossed atop or near the signature strip. It is comprised of three digits found to the right of a longer number.

Signature ________________________________________ 10 The NAIL l April, 2025

Awards highlight top design trends in 2025

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ore than 600 projects and professionals in all sectors of the residential housing industry—including single-family production, multifamily development, remodeling and offsite construction—were honored at the 2024 Best in American Living™ Awards (BALA) ceremony during the 2025 International Builders’ Show, hosted by the National Association of Home Builders (NAHB) in Las Vegas. The awards are sponsored by Smeg.

BALA Gold winners include the nation’s best in home and community design, interior design and remodeling, and showcase top design trends that home buyers can expect to see in homes and communities over the next several years.

“We’re continuing to see a shift away from harsh exteriors and finishes to warm, rich materials and soft corners,” said Angela Visbeen of Visbeen Architects, chair of the 2024 judging panel.

a “floating focal point,” Visbeen shared. It creates a luxurious, dramatic appeal in homes at all different price points.

Celebrated TV or Fireplace Wall. No longer hidden behind artwork or other features, fireplaces and TV setups are becoming the center of attention in today’s home. Eye-catching accessories, such as rounded coals or colorful glass, help draw attention to flickering flames, while artistic backdrops can help balance the size and scale of an impressive TV set.

Additional trends include: Rooftop Entertaining Space. Hosting at home is being taken to the next level—literally—in housing across the board, from spec homes to multifamily developments and remodeling projects.

These private spaces can enjoy all of the amenities and outdoor wellness benefits with the intimacy of a rooftop setting.

Verticality. Vertical elements—whether as an accent wall, elongated interior lighting or other accents — “can be used to add texture and depth,” Visbeen noted. Long, lateral lines can add drama and openness to spaces of all sizes, and even become a structural element, such as a divider or see-through wall.

Divided or Separated Garages. Parking is a premium feature but can present a design challenge at times when trying to maximize functionality without sacrificing the balance of a home’s façade.

Adding two or more divided or separated garages, especially when paired with design-forward doors, can help break up elevations or provide symmetry without overpowering the design.

Dark or Black Exteriors. From stark blacks to earthy deep greens, home exteriors are striking a darker tone to make a statement. Often mixed with lighter shades, the contrast can add instant modern curb appeal.

Geometry. “Geometric elements provide texture, symmetry and order to today’s interiors,” Visbeen said. They also provide a great opportunity to mix styles and trends, whether it’s adding linear lines to warm materials for a combination of modern and traditional or using them to enhance a TV wall. n

Open Tread Stairs. Equal parts design efficiency and artistic element, open tread stairs make a design statement by creating April 2025 l The NAIL 11

Parade of Homes

The 2025 Parade of Homes at Rosebrooke

ADVERTISE & EXHIBIT

If your company depends on new homes or related products, furnishings or services, here’s one opportunity you can’t pass up -- the 2025 Parade of Homes at Rosebrooke! Secure your space in the Plan Book or reserve an Exhibit Booth today.

THE PARADE PLAN BOOK

THE PARADE EXHIBIT BOOTH

At every Parade event each attendee is handed a magazine as they walk through the front gate - the Parade Plan Book.

Here’s your chance to demonstrate your product or service to the thousands of qualified prospects who pass through the Parade of Homes exhibit center when they enter and leave the show. As with Plan Book advertising, the exhib­it center produces virtually all pre-qualified customers!

The Plan Book is a tremen­dous opportunity to put your message into the hands of pre-qualified customers who refer to the book several months after the Parade of Homes is over!

Plan Book Advertising Rates Half Page 7.5” x4.75” (Horizontal) Full Page 7.5”x10” 8.75”x 11.25” (B1eed) Page One 7.5”x10” 8.75”x11.25” (Bleed) Inside Front Cover Inside Back Cover Back Cover

$960 $1,440 $1,920 $2,520 $2,760 $3,900

Email jargo@hbamt.org for ad specs and availability.

It’s like opening up shop and having thousands of prospects visit your show­room the first two weeks you’re in business. What other medium could come close to producing those kinds of results? The Parade ranks first of all home shows in the nation and you can take advantage of the prestige this show enjoys.

Exhibit Booth Price? $750 Each booth in the Parade of Homes exhibit center measures 10’ x 6’ at the front entrance where patrons must enter and exit -- perfect for eye-pop­ping kiosks and marketing publications!

2025 PARADE OF HOMES - PROMOTIONAL OPPORTUNITIES COMMITMENT FORM Return completed form to: HBAMT, 9007 Overlook Blvd., Brentwood, TN 37027 | Email: jargo@hbamt.org

PLAN BOOK AD - please check the size of ad you would like to secure in the 2025 Plan Book:

r Half Page

r Full Page

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r Inside Back

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EXHIBIT BOOTH SPACE - please check here to secure your 2025 Exhibit Booth Space: r Your name: ____________________________________ Company: _____________________________________ Cell: _________________________________________ Email: _________________________________________ Total amount being paid: $___________ Credit Card _______________________ Credit Card # _______________________________ Exp. ____________ Credit Card V-Code _______________

The “v-code” is found on the back of the card, usually printed or embossed atop or near the signature strip.

It is comprised of three digits found to the right of a longer number.

Signature _____________________________________________________________________________ 12 The NAIL l April, 2025

SPIKE REPORT Sonny Shackelford 219 Randall Smith 202 Helmut Mundt 178 Tonya Esquibel 174 Jim McLean 166

Twenty-three SPIKES (in bold) increased their recruitment numbers last month. What is a SPIKE? SPIKES recruit new members and help the association retain members. Here is the latest SPIKE report as of February 28, 2025.

Top 20 Big Spikes Mitzi Spann 797 Trey Lewis 588 Jimmy Franks 577 Terry Cobb 570 James Carbine 548 Jennifer Earnest 407 Brandon Rickman 381 David Crane 365 Kevin Hale 305 Nick Wisniewski 299 Reese Smith III 261 Steve Shalibo 249 Davis Lamb 236 David Hughes 232 Steve Moody 221

Life Spikes Joe Dalton 165 Jordan Clark 158 Jim Hysen 156 Steve Cates 148 Harry Johnson 146 Michael Dillon 139 C.W. Bartlett 138 David McGowan 135 Duane Vanhook 122 Justin Hicks 120 John Zelenak 118 Edsel Charles 117 Ryan Meade 115 Wiggs Thompson 113 Sam Henley 102 Jody Derrick 91 Lisa Underwood 90 Jeff Zeitlin 87 Keith Porterfield 84 Christina James 83 Ron Schroeder 81 Erin Richardson 77 Rachel Holloway 74 Andrew Neuman 74

Nelson Bordeau 71 Danny Clawson 65 Margaret Tolbert 61 Frank Jones 57 Bryan Sebring 56 John Broderick 55 Eli Routh 54 Kelly Beasley 53 John Ganschow 53 Ricky Scott 45 Kelvey Benward 35 Tammy Chambers 32 Don Mahone 31 Perry Pratt 31 Maverick Green 29 Spikes Tim Woodward 23 Randy Arnold 20 Rob Pease 16 Nicole Bird 15 Curt Haynes 15 John Nehrenz 14 Chris Richey 12 Clint Mitchell 11 Robert Goodall 10 Derek Budde 7 McClain Franks 6 Kevin Sturgill 6

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APRIL CALENDAR Sunday

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Remodelers Council Kick-off Event SOLD OUT

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Sales & Marketing Council meeting

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10 Wilson County Chapter meeting

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CHAPTERS & COUNCILS CHAPTERS

RSVP to: cnicley@hbamt.org.

COUNCILS

CHEATHAM COUNTY CHAPTER Chapter President - Roy Miles Cheatham County Chapter details are being planned.

Next meeting: to be announced.

RSVP to: cnicley@hbamt.org.

SUMNER COUNTY CHAPTER Chapter President - Joe Dalton The Sumner County Chapter typically meets at the new Hendersonville Library. Future meetings to be announced.

Next meeting: to be announced.

RSVP to: cnicley@hbamt.org.

HBAMT REMODELERS COUNCIL The HBAMT Remodelers Council meets at varying locations throughout the year.

Next meeting: Tuesday, April 1st, 4:30 to 6:30 p.m. at Ferguson, 3201 Powell Avenue, Nashville, 37204.

WURST PARTY and RMC Kick-off Event German food and beer, games and prizes!

EVENT SOLD OUT Sponsored by Ferguson and Miele Appliances RSVP to future RMC meetings and events to: cnicley@ hbamt.org.

DICKSON COUNTY CHAPTER Chapter President - Mark Denney Dickson County Chapter details are currently being planned.

Next meeting: to be announced.

Price: FREE, lunch dutch treat.

RSVP to: cnicley@hbamt.org.

MAURY COUNTY CHAPTER Chapter President - Sam Gray Maury County Chapter details are currently being planned.

Next meeting: to be announced.

Topic: to be announced.

FREE with RSVP pending sponsorship RSVP to: cnicley@hbamt.org.

METRO/NASHVILLE CHAPTER Chapter President - Lisa Underwood Metro/Nashville Chapter details are currently being planned.

Next meeting: to be announced.

Topic: to be announced.

RSVP to: cnicley@hbamt.org.

ROBERTSON COUNTY CHAPTER Robertson County Chapter details are currently being planned.

Next meeting: to be announced.

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WILLIAMSON COUNTY CHAPTER Chapter President - Rachel Holloway Williamson County Chapter details are being planned.

Next meeting: to be announced.

RSVP to: cnicley@hbamt.org.

WILSON COUNTY CHAPTER Chapter President - Margaret Tolbert Next meeting: Thursday, April 10th, 11:30 a.m East Nashville Beer Works - Wilson County Taproom 1688 Callis Rd, Lebanon, TN 37090 (upstairs) Topic: "Building Livable Communities," with guest speaker Gaye Lynn of Wilson Rides. Join us for our next Wilson County Home Builders Association meeting as we explore what it means to build livable, age-friendly communities.

FREE with RSVP thanks to Mortgage Mike, Movement Mortgage.

RSVP to: cnicley@hbamt.org.

INFILL BUILDERS COUNCIL Infill Builders Council details are currently being planned.

Next meeting: to be announced.

MIDDLE TENN SALES & MARKETING COUNCIL Council President - Chuck Payne The SMC typically meets on the first Thursday of the month.

Next meeting: Thursday, April 3rd, 9:00 a.m. at Walk Your Plans - 2937 Elm Hill Pike, 37214 Topic: "Next-Level Video Marketing: From Views to Contracts." Join us for an exciting, next-level session on video marketing for home builders and real estate pros, led

by Margaret Tolbert of Tolbert Marketing and Events at Walk Your Plans Nashville!

SMC Members Free w/RSVP thanks to Team Wilson, Tolbert Marketing & Events, and Walk Your Plans Nashville!

Non-SMC members: $15 with RSVP; $20 w/o RSVP RSVP REQUIRED DUE TO LIMITED SEATING RSVP to: cnicley@hbamt.org.

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