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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2025 Fall Builders Show at the HBAMT
The annual Fall Builders Show, held Tuesday, October 21st, was a big success drawing a large crowd of builder and developers to the HBAMT.
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Register now for the Annual Chili Cook-off!
The 2025 Chili Cook-off will be held in conjunction with the 2026 General Elections Tuesday, November 11th at the HBAMT. Sign up now to enter your best chili recipe now and join us for the big events.
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Installation Banquet sponsorships now available
Register now to sponsor the Annual Installation Awards Banquet, scheduled for Thursday, December 11th at the Cool Springs Marriott.
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Ford Communities Parade of Homes a winner!
The 2025 Parade kicked-off a successful 2-week run last month at Rosebrooke boasting six amazing, award-winning homes.
Existing home sales rise to seven month high
Existing home sales rose to a seven-month high in September as mortgage rates eased and inventory improved, according to the National Association of Realtors (NAR). Resale inventory matched to the highest level since May 2020, though it remained below pre-pandemic levels.
Mortgage rates hovered between 6.5% and 7% earlier this year due to ongoing economic and tariff uncertainty. However, rates recently fell below 6.5% for the first time this year as the Fed resumed rate cuts at its September meeting. Last week, the average mortgage rate decreased to a nearly one-year low of 6.27%. With additional rate cuts expected in coming months, lower mortgage rates and improved inventory should bring more buyers and sellers into the market.
Total existing home sales, including single-family homes, townhomes, condominiums, and co-ops, rose 1.5% to a seasonally adjusted annual rate of 4.06 million in September. On a year-over-year basis, sales were 4.1% higher than a year ago.”
The existing home inventory level was 1.55 million units in September, up 1.3% from August and up 14.0% from a year ago. At the current sales rate, September unsold inventory sits at a 4.6-months’ supply, unchanged from July and August but up from 4.2-months in September 2024. Inventory between 4.5 to 6
month’s supply is generally considered a balanced market.
Homes stayed on the market for a median of 33 days in September, up from 31 days last month and 28 days in September 2024.
The first-time buyer share was 30% in September, up from 28% in August and 26% from a year ago.
The September all-cash sales share was 30% of transactions, up from 28% in August but unchanged from a year ago. All-cash buyers are less affected by changes in interest rates.
The September median sales price of all existing homes was $415,200, up 2.1% from last year. This marks the 27th consecutive month of year-over-year increases. The median condominium/co-op price in September was down 0.6% from a year ago at $360,300. Recent gains for home inventory will put downward pressure on resale home prices in most markets in 2025.
Geographically, three of the four regions saw an increase in existing home sales in September, with an increase of 5.5% in the West, 2.1% in the Northeast, and 1.6% in the South. Meanwhile, sales in the Midwest fell 2.1%. On a year-over-year basis, sales were up in the South (6.9%), Northeast (4.3%) and the Midwest (2.2%), while sales were unchanged in the West. n
Remodeling market sentiment improves in third quarter
The NAHB recently released its NAHB/ Westlake Royal Remodeling Market Index (RMI) for the third quarter, posting a reading of 60, up one point compared to the previous quarter. With the reading of 60, the RMI remains solidly in positive territory above 50, but lower than it had been at any time from 2021 through 2024.
The NAHB/Westlake Royal RMI survey asks remodelers to rate five components of the remodeling market as “good,” “fair” or “poor.” Each question is measured on a scale from 0 to 100, where an index number above 50 indicates that a higher share view conditions as good than poor. The results of the RMI are seasonally adjusted.
The Current Conditions Index is an average of three components: the current market for large remodeling projects, moderately-sized projects and small projects. The Future Indicators Index is an average of two components: the current rate at which leads and inquiries are coming in and the current backlog of remodeling projects. The overall
RMI is calculated by averaging the Current Conditions Index and the Future Indicators Index. Any number over 50 indicates that more remodelers view remodeling market conditions as good than poor.
“Overall, remodelers remain optimistic about the market, although slightly less optimistic than they were at this time last year,” said NAHB Remodelers Chair Nicole Goolsby Morrison, a remodeler from Raleigh, N.C. “The most significant headwinds they are facing include high material and labor costs, as well as economic and political uncertainty making some of their potential customers cau-
Builder expectations rise in October
Even as builders continue to grapple with market and macroeconomic uncertainty, sentiment levels posted a solid gain in October as future sales expectations surpassed the 50-point break even mark for the first time since last January.
Builder confidence in the market for newly built single-family homes was 37 in October, up five points from September and the highest reading since April, according to the NAHB/ Wells Fargo Housing Market Index (HMI) released recently.
“While recent declines for mortgage rates are an encouraging sign for affordability conditions, the market remains challenging,” said NAHB Chairman Buddy Hughes. “The housing market has some areas with firm demand, including smaller builders shifting to remodeling and ongoing solid conditions for the luxury market. However, most home buyers are still on the sidelines, waiting for mortgage
rates to move lower.”
“The HMI gain in October is a positive signal for 2026 as our forecast is for single-family housing starts to gain ground next year,” said NAHB Chief Economist Robert Dietz. “The 30-year fixed-rate mortgage fell from just above 6.5% at the start of September to 6.3% in early October. Combined with anticipated further easing by the Fed, builders expect a slightly improving sales environment, albeit one in which persistent supply-side cost factors remain a challenge.”
With the government shutdown continuing and an expectation of no Census housing construction data for September being published this week, Dietz noted the following: “Based on modeling of historical data, the October increase for the HMI suggests an approximate 3% increase for the September single-family permit data on a seasonally adjusted annual rate basis. Our model suggests a 2% to 4%
tious about moving forward with remodeling projects.”
“The small quarter-over-quarter improvement in the RMI is consistent with flat construction spending trends and the current waitand-see demand environment,” said NAHB Chief Economist Robert Dietz. “Going forward, remodeling spending should continue to grow, supported by the aging housing stock and gains for household net worth.”
The Current Conditions Index averaged 68, increasing two points compared to the previous quarter. All three components remained above 50 in positive territory: the component measuring large remodeling projects ($50,000 or more) rose two points to 64, the component measuring moderate remodeling projects (at least $20,000 but less than $50,000) climbed four points to 70, and the component measuring small-sized remodeling projects (under $20,000) inched up one point to 71.
The Future Indicators Index averaged 52, up one point compared to the previous quarter. The component measuring the current rate at which leads and inquiries are coming in dipped two points to 49, while the component measuring the backlog of remodeling jobs increased four points to 56. n
range for the increase based on the statistical relationship.”
In a sign of ongoing challenges for the housing market, the latest HMI survey also revealed that 38% of builders reported cutting prices in October. This share has alternated between 37% and 39% since June. Meanwhile, the average price reduction rose to 6% in October after averaging 5% for several months previously. The last time builders reduced prices by 6% was a year ago in October 2024. The use of sales incentives was 65% in October, unchanged from September.
All the HMI sub-indices rose in October. The component measuring current sales conditions increased four points to 38, the index gauging future sales jumped nine points to 54 and the gauge charting traffic of prospective buyers posted a four-point gain to 25.
Looking at the three-month moving averages for regional HMI scores, the Northeast rose two points to 46, the Midwest was unchanged at 42, the South increased two points to 31 and the West gained two points to 28. n
Builders Show at the HBAMT!
The 2025 Fall Builders Show at the HBAMT last month was a big success drawing a large crowd of builders and developers. Over 50 vendors and event sponsors participated in the popular event hosting exhibit booths underneath the big tent and greeting builders with snacks, beverages, and door prizes.
A big thanks to all the Builders Show exhibitors and sponsors for making the event such a success. n
BIG WINNER! Bryan Sallman took home the Builders Show Raffle cash prize.
The 2025 HBAMT Installation & Awards Banquet
r GENERAL SPONSOR
r PLATINUM SPONSOR
- Logo on all printed material
- Two tickets to Installation & Awards Banquet
- Recognition at Banquet + Four (4) beverage tickets
- Larger logo on all printed material
- Two (2) tickets to Installation & Awards Banquet
- Eight (8) beverage tickets of your choice
- Increased recognition at Banquet $1,500
- Dual logos on all printed material
r RECEPTION SPONSOR (1 available)
- Signage at Reception and Banquet
r TITLE SPONSOR (1 available)
- Four (4) tickets to Installation & Awards Banquet
- 30 (30) beverage tickets of your choice
- Increased recognition at Banquet
- Headliner on all printed material with logo at
$6,500
- Welcome everyone & introduce entertainment
- Table at Installation & Awards Banquet (8 tickets)
- Sixty (50) beverage tickets of your choice
$9,600
Ford Communities Parade of Homes!
The 2025 Ford Communities Partners Parade of Homes drew huge crowds during a successful two-week run last month at the Rosebrooke community in Brentwood. Attendees lined up daily to see the six amazing homes and interior designs throughout the event thanks to strong word-of-mouth and social media buzz. The stunning homes wowed attendees and received a bevy of well-deserved awards both before and during the show.
Legend Homes enjoyed a strong showing during the Preview Party that kicked off the event, taking home both the “Best of Show” award and the much coveted "Best Interior Design" award. Stephanie Handley from Studio 36 Designs joined the Legend team on stage to accept the awards (see page fourteen).
Stonegate Homes took home the People's Choice "Best of Show" award during the show. Paul Huff from Stonegate Homes, Julie Davis from Julie Davis Interiors, and Kathryn Zelenik from KZ Designs accepted the award.
Votes cast by industry professionals determine the winners at the Preview Party, while votes cast by Parade attendees decide People’s Choice winners.
For a complete listing of all the winners from each of the award presentations, see page 15 of this issue.
A big thanks to our title sponsor Ford Communities for their support. Thanks also to the developers who hosted the event, CPS Land and Ford Classic Homes n
Outside the Legend Homes Parade house, winner of the Best of Show award at the event's Preview Party.
Pease presents Thomas Edmondson the “Best Craftsmanship” award for Ford Classic Homes.
Pease presents John Zelenak and Rachel Tate the “Best Home Technology” award for Aspen Construction.
Rob Pease of CPS Land presents Jason Ford and Andrew Ford with Insignia Homes' “Most Creative Use of Space” award.
Pease presents Alyssa Sipple and Brian Sipple the “Best Child's Room” award for Sipple Homes.
Paul Huff, Jack Huff, Julie Davis, Kathryn Zelenik, and Jim Harrison accept the “Best Laundry Room” award for Stonegate Homes.
The Legend Homes’ team and their “Best of Show” award. Joe Crider, Andy Ferguson, Stephanie Handley from Studio 36 Designs, and Matt Ruhle
Best Front Exterior
Stonegate Homes
Best Landscaping
Stonegate Homes
Best Foyer Sipple Homes
Best Kitchen Insignia Homes
Best Primary Suite Stonegate Homes
Best Floorplan Ford Classic Homes
BEST OF SHOW AWARDS
Presented at the Preview Party
Best Child’s Room Sipple Homes
Best Outdoor Living Area Aspen Construction
Most Livable Stonegate Homes
Best Home Technology Aspen Construction
Best Window Treatments Legend Homes
Best Laundry Room Sipple Homes
Best Front Exterior Stonegate Homes
Best Landscaping Stonegate Homes
Best Foyer Legend Homes
Best Kitchen Insignia Homes
Best Primary Suite
Stonegate Homes
Best Floorplan
Stonegate Homes
Best Wall Treatments Legend Homes
Best Garage Aspen Construction
Most Creative Use of Space Insignia Homes
Best Craftsmanship Ford Classic Homes
Best Interior Design Legend Homes - Studio 36 Designs
BEST OF SHOW Legend Homes
PEOPLE’S CHOICE AWARDS
Determined by votes cast by Parade attendees
Best Child’s Room Sipple Homes
Best Outdoor Living Area Legend Homes
Most Livable Ford Custom Classic Homes
Best Home Technology Aspen Construction
Best Window Treatments Ford Custom Classic Homes
Best Laundry Room Insignia Homes
Best Wall Treatments Insignia Homes
Best Garage Aspen Construction
Most Creative Use of Space Sipple Homes
Best Craftsmanship Legend Homes
Best Interior Design Insignia Homes - Bella Vita Interiors
BEST OF SHOW Stonegate Homes
Left: Ford Classic Homes primary suite. Below: Insignia Homes kitchen.
Left: Legend Homes stairwell, foyer. Above: Stonegate Homes front exterior.
Right: Sipple Homes child's playroom bunks. Below: Aspen Construction garage.
SPIKE REPORT
Twenty-seven 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 September 30th, 2025.
Top 20 Big Spikes
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CHAPTERS & COUNCILS
CHAPTERS
CHEATHAM COUNTY CHAPTER
Chapter President - Roy Miles
Cheatham County Chapter details are being planned. Next meeting: to be announced.
RSVP to: cnicley@hbamt.org
DICKSON COUNTY CHAPTER
Chapter President - Matt Spann
Dickson County Chapter meetings are typically held on the third Thursday of the month.
Next meeting: to be announced.
Free w/RSVP, Lunch = Dutch Treat (lunch free w/RSVP pending sponsorship)
RSVP to: cnicley@hbamt.org
MAURY COUNTY CHAPTER
Chapter President - Sam Gray
Maury County Chapter meetings are typically held on the first Tuesday of the month.
Next meeting: to be announced.
FREE w/RSVP pending sponsorship; $20 w/o RSVP PLEASE RSVP to cnicley@hbamt.org
METRO/NASHVILLE CHAPTER
Chapter President - Lisa Underwood
Metro/Nashville Chapter details are typically held on the fourth Thursday of the month.
Next meeting: to be announced.
$25 per person w/RSVP - LUNCH SERVED RSVP to: cnicley@hbamt.org
ROBERTSON COUNTY CHAPTER
Robertson County Chapter details are currently 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 on the third Tuesday of the month. Next meeting: to be announced.
RSVP to: cnicley@hbamt.org
WILLIAMSON COUNTY CHAPTER
Chapter President - Rachel Holloway
Williamson County Chapter meetings are typically held on the third Tuesday of the month.
Next meeting: to be announced.
FREE w/RSVP pending sponsorship. RSVP to: cnicley@hbamt.org
WILSON COUNTY CHAPTER
Chapter President - Margaret Tolbert
Wilson County Chapter meetings are typically held on the second Thursday of the month.
Next meeting: to be announced.
FREE with RSVP pending sponsorship.
RSVP to: cnicley@hbamt.org
COUNCILS
HBAMT REMODELERS COUNCIL
The HBAMT Remodelers Council meets at varying locations throughout the year.
Next meeting: to be announced.
RSVP to RMC meetings and events to: cnicley@hbamt.org
INFILL BUILDERS COUNCIL
Infill Builders Council meetings are typically held on the last Wednesday of the month.
Next meeting: to be announced.
FREE w/RSVP pending sponsorship.
RSVP to: cnicley@hbamt.org
MIDDLE TENN SALES & MARKETING COUNCIL
Council President - Chuck Payne
The SMC typically meets on the first Thursday of the month. Next meeting: Thursday, November 6th, 9 a.m. at Walk Your Plans Nashville - 2937 Elm Hill Pike, TN 37214. Topic: Holiday Video Marketing Workshop: From Content to Contracts - Get ready to make your holiday marketing merry and bright! Join Tolbert Marketing and Events at Walk Your Plans Nashville for a hands-on workshop designed to help builders and real estate pros elevate their holiday social media strategy.
SMC Members Free w/RSVP thanks to CMG Mortgage, Team Wilson, Tolbert Marketing & Events, and Walk Your Plans Nashville!.
NON-SMC MEMBERS MUST RSVP and PAY: $25 with RSVP; $30 w/o RSVP **HBAMT members must be a paid member of the Sales & Marketing Council in order to receive council rates** RSVP to: cnicley@hbamt.org
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