That analysis comes from the financial website SmartAsset.com, which crunched federal data and numbers from the National Association of Realtors. Here's some of what the website said about Nashville:
Between the third quarter of 2007 and the first quarter of 2011, home prices in the Nashville metro area fell nearly 12 percent. In the four years since then, prices have surged, increasing by 26 percent since they hit bottom and reaching a level more than 11 percent higher than their pre-crisis peak.
SmartAsset excluded some cities from their study, such as Austin and Pittsburgh, because they did not experience a price decline of at least 10 percent from the pre-recession peak to the low point during the economic crisis.
As if on cue, data released Thursday by the Greater Nashville Association of Realtors bears out what the SmartAsset study found.
There were 2,940 closings in April (mostly single-family homes), a 6 percent increase from the same month in 2014, GNAR said.
The median sale was $224,945 — a jump of $20,000, or 10 percent, compared to April 2014.
"Inventory is increasing as predicted, but not at the rate that can keep up with demand,” said Cindy Stanton, president of GNAR and an agent with the firm Parks (formerly Bob Parks Realty).