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.
Golf Tournament set for August 13th, register now! Register now to play in the James Hardie Building Products Golf Tournament this August! MORNING ROUND SOLD OUT, secure your afternoon round spot today.
Fling & Builders Show at the HBAMT
The annual Builders Show drew big crowds to the HBAMT month as builders and developers visited vendor booths, enjoyed food and drinks, and won prizes throughout the event
Sign up now to participate as a sponsor at this year's Golf Tournament! Secure your spot today and join us on the course this August.
New homes sales down in April on affordability concerns
Elevated mortgage rates, higher inflation and economic uncertainty kept more buyers on the sidelines in April as ongoing affordability challenges continue.
Sales of newly built single-family homes fell 6.2% in April to a seasonally adjusted annual rate of 622,000, 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.
“Although there are still signs of demand, many potential buyers are stepping back because of higher mortgage rates and gas prices,” said Bill Owens, chairman of the National Association of Home Builders (NAHB) and a home builder and remodeler from Worthington, Ohio. “Builders continue to offer a range of sales incentives, but home sales have declined this year because income growth is not keeping pace with housing costs.”
“New home sales are on track to decline in 2026 as mortgage rates are expected to remain elevated in the months ahead,” said NAHB Chief Economist Robert Dietz.
“The Midwest remains a bright spot, with sales up 7.3% year to date, compared with declines in the rest of the country.”
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 April reading of 622,000 units is the number of homes that would sell if this pace continued for the next 12 months.
New single-family home inventory in April rose to 489,000 units, up 1.7% compared to the previous month. This represents an elevated 9.4 months’ supply at the current building pace.
The median new home sale price was $422,500, up 8.0% from March and up 2.2% from a year ago. Completed, ready-to-occupy inventory accounted for 122,000 homes in April, up 6.1% from a year ago.
Regionally, on a year-to-date basis, new home sales are up 7.3% in the Midwest. New home sales are down 9.7% in the Northeast, 7.6% in the South and 9.5% in the West. n
Single-family starts fall amid economic uncertainty
Single-family housing starts declined in April as builders faced continued economic uncertainty and affordability challenges, including higher construction costs, ongoing labor shortages and elevated financing expenses.
Overall housing starts decreased 2.8% in April to a seasonally adjusted annual rate of 1.47 million units, according to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.
The April reading of 1.47 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 decreased 9% to a 930,000 seasonally adjusted annual rate and are down 2.4% compared to April 2025. The multifamily sector, which includes apartment buildings and condos, increased 10.3% to an annualized 535,000 pace and are up 19.7%
compared to April 2025.
“Housing starts pulled back in April as elevated mortgage rates and ongoing affordability challenges continued to weigh on the market,” said Bill Owens, NAHB chairman. “The drop indicates builders remain cautious as softer buyer demand and higher financing costs limit new construction activity. However, the Midwest looks to be more stable compared to the other regions.”
“The decline in housing starts highlights growing pressure from tighter financial conditions and rising construction costs,” said Danushka Nanayakkara-Skillington, NAHB’s assistant vice president for forecasting and analysis. “Recent increases in the 10-year Treasury yield have driven mortgage rates higher, further reducing affordability and weakening demand for new homes. As a result, home building is likely to remain under pressure in the
Builder sentiment posts gain in May but challenges persist
Builder confidence posted a modest gain in May even as buyers grapple with rising mortgage rates and economic uncertainty while builders continue to contend with elevated land, labor and construction costs.
Builder confidence in the market for newly built single-family homes increased three points to 37 in May, according to the NAHB/ Wells Fargo Housing Market Index (HMI) released recently.
“The housing market remains soft as higher mortgage rates, rising gas prices and economic uncertainty related to the war in Iran continue to dampen buyer demand,” said NAHB Chairman Bill Owens. “However, efforts in the House to modify the 21st Century ROAD to Housing Act could increase the nation’s housing supply and help ease builder concerns.”
“Recent increases for long-term interest rates will continue to hold back home buyer demand,” said NAHB Chief Economist Robert Dietz. “Although some regional markets, including parts of the Midwest, are showing
relative strength, the housing market continues to face significant affordability challenges.”
The latest HMI survey also revealed that 32% of builders cut prices in May, down from 36% in April. The average price reduction was 6%, up from the 5% figure in April.
The use of sales incentives was 61% in May, up slightly from 60% in April, and marking the 14th consecutive month this share has reached 60% or higher.
coming months, especially as higher diesel and gas prices continue to raise construction costs.”
On a regional and year-to-date basis, combined single-family and multifamily starts were 16.6% higher in the Northeast, 2.9% lower in the Midwest, 1.8% higher in the South and 0.4% lower in the West.
Overall permits increased 5.8% to a 1.44 million unit annualized rate in April. Single-family permits decreased 2.6% to an 872,000-unit rate and are down 5.5% compared to April 2025. Multifamily permits increased 21.8% to an annualized 570,000 pace and are up 9.2% compared to April 2025.
Looking at regional permit data on a year-to-date basis, permits were 14.2% higher in the Northeast, 7.3% higher in the Midwest, 6.7% lower in the South and 0.7% higher in the West.
The number of single-family homes under construction is at 588,000 units while the number of apartments under construction is at 687,000 units. n
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 May, as some buyers who had been holding back decided to move forward this spring. The HMI index gauging current sales conditions rose three points to 40 from April to May, the index measuring future sales increased three points to 45 and the index charting traffic of prospective buyers posted a three-point gain to 25.
Looking at the three-month moving averages for regional HMI scores, the Midwest registered a one-point gain to 43, the Northeast rose one point to 42, the South held constant at 35 and the West fell one point to twenty-eight. n
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Spring Fling & Builders Show 2026!
The HBAMT's Annual Spring Fling & Builders Show welcomed a big crowd of builders to the association's offices last month. Over 50 member vendors and sponsors filled the event tent and welcomed attendees to the big show and their exhibit booths.
A big thanks to the Ferguson team for providing delicious food at their grilling station during the show, and to James Hardie Building Products for sponsoring the Builder's Bar. And of course, a big thanks to all the Spring Fling & Builders Show exhibitors and sponsors for making the event such a huge success. n
2026 Golf Tournament Sponsorships!
The 15th Annual HBAMT Golf Tournament is set for Thursday, August 13 at the Towhee Club in Spring Hill. Sign up now to sponsor at one of the following levels!
sponsorship level price/# available benefits selection
TITLE SPONSOR
Lunch Sponsor
Breakfast Sponsor
$12,000 1 available
$7,500 1 available
$3,500 1 available
Platinum
Gold Sponsor
$2,500 9 available
$1,500 5 available
Silver Sponsor
Hospitality Cart
Wrap-up Party Sponsor
$700
$3,000 2 available
$3,000 1 available
l Company name featured as headliner on all materials; w/signage
l Booth at registration, awards wrap-up & course hole
l Opportunity to hand out promotional materials
l Eight (8) tickets to breakfast; eight to Lunch; eight to Wrap-up
l Company name featured as Lunch Sponsor on all material
l Booth at check-in and Golf Tournament course hole
l Opportunity to hand out promotional materials
l Four (4) tickets to Lunch; four to Wrap-up; two to Breakfast
l Company name featured as Breakfast Sponsor on all material
l Booth at check-in and Golf Tournament course hole
l Your booth will be breakfast ticket pick up point for all golfers
l Opportunity to hand out promotional materials
l Two (2) tickets to Breakfast; two to Lunch; two to Wrap-up
l Single hole sponsor for BOTH MORNING & AFTERNOON rounds
l Opportunity to hand out promotional materials at hole
l Signage at tournament provided
l Opportunity to hand out information & goodies
l Two (2) tickets to Lunch; two to Wrap-up
l Company name featured on all materials
l Booth at wrap-up & course hole
l Opportunity to hand out promotional materials at hole
l Signage at tournament provided
l Two (2) tickets to Lunch; two to wrap-up
l Hole sponsor for both morning & afternoon rounds
l Opportunity to hand out promotional materials at hole
l Two (2) tickets to Lunch; two to wrap-up
l Hospitality cart with your name on it
l Ride cart handing out beverages & goodies both rounds
l Two (2) tickets to Lunch; two to wrap-up
l Company name featured as Wrap-up Sponsor on all material
l Booth at check-in and Golf Tournament course hole
l Opportunity to hand out promotional materials
l Two (2) tickets to Wrap-up; two to Lunch
Indicate which of the sponsorship levels shown above you selected and return the completed form below to the HBAMT to sign up today! (List company EXACTLY as you want it to appear on signage.)
Twenty-eight 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 April 30, 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: to be announced. Topic: to be announced.
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, June 2nd - 11:30 a.m to 1:00 p.m. at Ferguson's new location: 763 Beechcroft Rd, Spring Hill, TN 37174
Topic: A Q&A Panel Discussion with Candidate in Maury County's Upcoming Elections - and a tour of the new Ferguson Showroom.
FREE w/RSVP thanks to Ferguson!
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, June 11th, Thursday, 8:00 a.m. to 9:30 a.m. at the Holiday Inn Express - Mt. Juliet
565 S. Mt. Juliet Road Mount Juliet, TN, 37122
Topic: "Wilson County Planning Commission Panel." Join us at the Holiday Inn Express in Mt. Juliet for a discussion with Wilson County Planning Commission members on growth, zoning, and development in the county.
Holiday Inn Express - Mt. Juliet
565 S. Mt. Juliet Road Mount Juliet, TN, 37122
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. 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, June 11th, 4-6pm at the House of Spirits in Franklin
Topic: "SMC SUMMER MIXER!" Join us for Drinks, Snacks, & More at the House of Spirits in Franklin! House of Spirits - 334 Main St., Ste. #104, Franklin, 37064
FREE WITH RSVP THANKS TO OUR SPONSORS!
Sponsors: Annie Mac Home Mortgage, Carter Lumber, Henley Supply, Partners in Building, and The Wedig Team at CMG Home Loans
RSVP REQUIRED to: cnicley@hbamt.org
