THE NAIL
The official magazine of Home Builders Association of Middle Tennessee
President Eli Routh
Vice President
Danny Clawson
Secretary/Treasurer
Sam Gray
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.
Register now to secure your exhibit space or sponsorship at the popular event next month at the HBAMT. Booths have nearly sold out so act fast
Two executive orders on housing to remove regulatory barriers and provide better access to mortgage credit will help ease the nation’s housing affordability crisis
Builders, Bluegrass & BBQ Event April 30th
Join us for a Spring evening of whole hog BBQ, bourbon tastings, and live bluegrass music at Historic Travellers Rest. Space limited, RSVP required
New homes sales down in January on weather disruptions
Economic uncertainty, severe winter weather and housing affordability concerns acted as headwinds on the market in January.
Sales of newly built single-family homes fell 17.6% in January, to a seasonally adjusted annual rate of 587,000 from a downwardly revised December reading, 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 is down 11.3% from a year earlier.
“January’s dip in new home sales reflects typical monthly volatility, as well as weather-related disruptions, most notably in the Northeast and Midwest,” said NAHB Chairman Bill Owens, a home builder and remodeler from Worthington, Ohio. “On a three-month moving average basis, sales were 688,000, remaining broadly in line with the 685,000 pace seen a year ago. Builders are increasingly using incentives, including price reductions and upgraded features, to attract buyers and sustain market momentum amid ongoing affordability challenges.”
“New home sales fell in January largely because of weather-related disruptions, even as mortgage rates eased modestly,” said Jing Fu, NAHB senior director of forecasting and analysis. “According to the Freddie Mac Primary
Mortgage Market Survey, the 30-year fixed mortgage rate averaged roughly around 6.1% during January, providing some relief for buyers. However affordability pressures, including economic uncertainty, elevated construction costs and tariff risks, continue to constrain activity.”
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 January reading of 587,000 units is the number of homes that would sell if this pace continued for the next 12 months.
New single-family home inventory in January rose to 476,000 units, 0.4% higher than the previous month, but 4.0% lower than a year earlier. This represents a 9.7 months’ supply at the current building pace. Completed for-sale new homes remained unchanged at 126,000, the highest level since 2009.
The median new home sale price was $400,500, down 6.8% from a year ago. On a year-to-date basis, nationally new home sales rose 1.4%.
Regionally, on a year-to-date basis, new home sales are up 1.4% in the Midwest and 4.1% in the South. New home sales are down 8.3% in the Northeast and 3.5% in the West n
Builders respond to challenges during New Homes Month
During New Homes Month in April, the home building industry is responding to market conditions by constructing homes that balance price and meet modern home buyer needs. According to U.S. Census Bureau and National Association of Realtors data, newly built homes are typically priced at or below existing homes, offering buyers more options in today’s challenging housing market.
“Homeownership remains a cherished ideal for families across the country, and builders are stepping up to make homes attainable,” said NAHB Chairman Bill Owens. “We will continue working with policymakers at every level of government to address supply-side challenges and seek regulatory relief that affects housing affordability."
In 2025, a typical existing home sold for 1% more than a newly built home.
Since 2022, median new home prices have declined by 5%. Builders are narrowing the price gap by adjusting costs and design. According to a recent NAHB survey, 64% of builders offered sales incentives and 37% cut prices. In addition, the median
Builder sentiment inches higher, affordability concerns persist
Builder sentiment inched up in March even as builders continue to express affordability concerns stemming from elevated construction costs and shortages of buildable lots and labor.
Builder confidence in the market for newly built single-family homes rose one point to 38 in March, following a revised upward one-point revision in February, according to the NAHB/Wells Fargo Housing Market Index (HMI) released recently. All responses to the March survey were received after the conflict with Iran started.
“Affordability for buyers and builders remains a top concern,” said NAHB Chairman Bill Owens. “Many buyers remain on the fence waiting for lower interest rates and due to economic uncertainty. Builders are facing elevated land, labor and construction costs and nearly two-thirds continue to offer sales incentives in a bid to firm up the market.”
“While the Freddie Mac 30-year fixed rate mortgage averaged 6.05% in February, the lowest since August 2022, downpayment
hurdles and uncertainty from the conflict with Iran and the price of oil will be headwinds going forward,” said NAHB Chief Economist Robert Dietz. “The administration’s executive orders issued last week to reduce regulatory burdens associated with home building are a positive step toward increasing attainable housing supply.”
The latest HMI survey also revealed that 37% of builders cut prices in March, up slightly from 36% in February. The average price reduction remained stable at 6%. The
home size in 2025 was 2,155 square feet, essentially unchanged from 2024. Smaller homes generally improve affordability for buyers.
Looking ahead, builders are increasingly expanding usable living space with patios, front porches and decks, complemented by exterior lighting and landscaping. Builders are also adapting to buyers’ preferences for flexible interiors and modern features, including:
Adding drop zones (for keys and coats) (57%)
Including flex/multipurpose rooms (50%)
Adding a charging station for EVs (40%)
As single-family home inventory remains low and attainability challenges persist, new construction is playing an increasingly pivotal role in expanding housing options for buyers. New single-family home inventory in January rose to 476,000 units, 0.4% higher than the previous month. This represents a 9.7 months’ supply at the current building pace. n
use of sales incentives was 64% in March, down one percentage point from February, and marking the 12th consecutive month this share has exceeded 60%.
Derived from a monthly survey that NAHB has been conducting for more than 40 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.
All three of the major HMI indices posted gains in March. The HMI index gauging current sales conditions increased one point to 42 from February to March, the index measuring future sales gained two points to 49 and the index charting traffic of prospective buyers posted a three-point increase to 25.
Looking at the three-month moving averages for regional HMI scores, the Northeast held steady at 44, the Midwest was unchanged at 43, the South held constant at 35 and the West fell two points to 31. n
Builders SHOW Exhibit Tent
The Builders Show exhibit tent will be located on the south side of the HBAMT building and measure 120 x 40 feet boasting space for forty-five (47) 10 x 5 feet exhibit spaces.
DON’T MISS OUT ON THIS TERRIFIC OPPORTUNITY!
Return your registration form to the HBAMT today to reserve your space or sponsorship! Exhibit spaces are limited to two per company.
Return your registration form to the HBAMT today! = 10’x5’
Tuesday, May 12th
2026 SPRING BUILDERS SHOW REGISTRATION FORM
Return form to: cnicley@hbamt.org
Tuesday, May 11
I am registering as an: r EXHIBITOR - $630 per booth r SPONSOR - $575
Secure your spot today by returning the registration form provided below to the HBAMT today!
EXHIBITORS are provided exhibit space inside the exhibit tent. SPONSORS enjoy all the benefits of an exhibitor, including access to the tent, without being provided exhibit space in the tent.
Your name: ______________________________________ Company: _______________________________________
Product/service exhibiting: _____________________________
EXHIBITORS: Top 3 booth location preferences (not guaranteed):
Number of booths you’re purchasing (no more than two):
_______ x $630 = your total payment*: $____________
r *Register me for the Builders Raffle held during the event. I will pay an additional $50 entry raffle entry fee.
SPONSORS: will be charged $575.
Executive orders would ease affordability crisis
President Trump on March 13 issued two executive orders on housing to remove regulatory barriers and provide better access to mortgage credit that will help ease the nation’s housing affordability crisis.
“The president’s executive order to remove regulatory barriers will enable builders to build more housing by reducing red tape, streamlining permitting requirements and easing costly environmental regulations,” said NAHB Chairman Bill Owens. “The executive order for access to mortgage credit also takes important steps to provide better financing options for home buyers and home builders and make it easier for families to achieve the American dream of homeownership.”
The executive order on regulatory barriers calls for the Environmental Protection Agency and U.S. Army Corps of Engineers to support federal permitting reforms for residential construction under both wetlands and stormwater requirements. It also calls on the chairman of the Council on Environmental Quality to issue guidance maximizing categorical exclusions under the National Environmental Policy Act for housing construction and related activities.
The order also does the following:
l Directs the Secretary of Commerce, Secretary of Housing and Urban Development, Secretary of Transportation, and the Director of the Federal Housing Finance Agency (FHFA) to eliminate unduly burdensome rules and reform programs that constrain residential development and housing affordability.
l Calls on the Secretary of Agriculture, Secretary of Housing and Urban Development, Secretary of Energy, and the Director of the FHFA to eliminate or reform overly burdensome energy, water and alternative-energy requirements for housing, including manufactured homes.
l Calls for federal agencies to provide incentives to state and local governments that adopt regulatory best practices to speed up permitting, curtail “green” building codes, reduce costly design and building mandates, enable innovative home construction methods, and extend residential development.
l Encourages new home construction by aligning Opportunity Zone incentives with single-family home development and New Markets Tax Credit programs.
The executive order to expand credit access to home buyers and home builders directs federal banking regulators to:
l Revise supervisory guidance to support responsible construction lending by community banks and explore opportunities to expand financing options for small home builders.
l Modernize appraisal regulations by expanding alternative valuation models, reducing unnecessary appraisal requirements for low-risk transactions, setting clearer timelines for appraisals and simplifying appraiser qualification requirements.
l Engage in responsible, safe and efficient reforms to capital and liquidity rules to remove undue burdens on lending, such as tailoring risk weights to the material credit risk of the exposure, expanding access to longer-dated Federal Home Loan Bank (FHLB) advances tied to residential mortgage assets, and creating targeted
FHLB liquidity programs for entry-level housing, owner-occupied purchase loans, and small residential builders.
l Consider whether to adopt new supervisory criteria that promote portfolio mortgage servicing as a core community banking function and otherwise take other actions that lower barriers to entry and costs of operation for community banks in the mortgage lending business.
This executive order also directs the Consumer Financial Protection Bureau (CFPB) to appropriately tailor mortgage rules to help enable smaller banks to facilitate more affordable lending, including modernizing and streamlining regulatory and documentation requirements. Furthermore, it replaces current loan disclosure rules with an improved standard, thereby reducing closing delays.
“The president’s executive orders get at the root of the housing affordability problem by eliminating obstacles to build more homes and providing better access to financing,” said Owens. “NAHB looks forward to working with the Trump administration to implement these important directives. n
SPIKE REPORT
Twenty-four 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, 2026.
Big Spikes
Mitzi
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: Thursday, April 16th, 12 p.m. at Colton's Steak House - 2431 Highway 46 S, Dickson 37055 Topic: "Meet Dickson County Mayoral Candidates." Join the chapter to April as we welcome candidates for Dickson County Mayor.
Free w/RSVP to: cnicley@hbamt.org
MAURY COUNTY CHAPTER
Chapter President - Sam Gray
Maury County Chapter meetings are typically held on the third Tuesday of the month.
Next meeting: Tuesday, April 21st, 11:30 a.m. at Los Portas Taco Shop - 106A East 8th Street, Columbia TN, 38401. Topic: 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.
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: Thursday, April 9th, Thursday, 11:30 a.m. to 1:00 p.m. at East Nashville Beer Works in Lebanon
Topic: "Wilson County Builder Panel." Meet and hear from a panel of Wilson County Builders!
East Nashville Beer Works in Lebanon – 1688 Callis Rd, Lebanon, TN 37090
FREE with RSVP thanks to Mortgage Mike, Primis Mortgage. 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. PLEASE RSVP to: cnicley@hbamt.org
MIDDLE TENN SALES & MARKETING COUNCIL
Council President - Kristen Carbine
The SMC typically meets on the first Thursday of the month. Next event: Thursday, April 2nd, 9 a.m. at the HBAMT.
Topic: "Using AI Tools to Boost Productivity & Increase Sales." Join the Sales & Marketing Council for an interactive meeting featuring keynote speaker Brandon Hutcheson of Summit Funding.
The HBAMT - 9007 Overlook Blvd., Brentwood, TN 37027 Free for SMC Members w/RSVP thanks to Walk Your Plans Nashville, Homes4Homes, and Team Wilson Real Estate Partners.
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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