Home appreciation has slowed nearly every month since last fall, following year-over-year double-digit growth from 2016 to mid-2018.
In March, price growth mellowed to roughly the same rate as the national average of 6.6 percent.
Average home values grew by 6.8 percent in March, compared to the year prior when prices jumped 11.2 percent over March 2017.
The decrease, a result of reduced demand, is also taking place in other fast-growing markets.
“Nashville is one of the many places where prices were growing at an unsustainably high rate,” said Zillow economist Jeff Tucker. “So a slowdown reverting to a vanilla, boring marketplace I think is good for people.”Neighborhoods with the biggest drop in demand from March 2018 to March 2019 included downtown Nashville, the southern end of East Nashville, Hillsboro Village, Music Row, Spring Hill, Sylvan Park, Forest Hills, Bellevue, Hermitage, Nolensville, and Antioch.