Left in Limbo on I-24: What the $9.2B Choice Lanes Deal Means for South Nashville Homeowners

If you own property near I-24, you have likely heard two conflicting messages.

The project is moving forward.

The final property footprint is not finished.

Both statements are true.

On August 19, 2026, Tennessee’s Transportation Modernization Board approved DriveTN as TDOT’s selected private partner for the $9.2 billion I-24 Southeast Choice Lanes project. The project is intended to address congestion between Nashville and Murfreesboro.

It has also created real anxiety in South Nashville, Glencliff, Antioch, Smyrna, La Vergne, and the broader Rutherford County corridor.

Homeowners want to know whether they will lose property. Buyers want to know whether a purchase is financially wise. Sellers want to know what they must disclose and how much uncertainty buyers will tolerate.

Here is what is known today.

1. What is actually being built?

The market reality

This is not a plan to toll the existing interstate lanes.

The project would add two optional Choice Lanes in each direction along roughly 26 miles of I-24. The corridor runs from the Fairfield Avenue bridge in Nashville to the I-840/I-24 interchange.

The concept also involves:

• A split near I-24 and I-440.

• A southern connection ending at Nolensville Pike.

• Replacement of bridges at Fesslers Lane, Elm Hill Pike, and Arlington Avenue.

• Park-and-ride facilities.

• Toll-free access for WeGo transit buses.

• Continued free use of the existing general-purpose lanes.

DriveTN would design, build, finance, operate, and maintain the project. The consortium includes Cintra, Transurban, Tikehau Star, Ferrovial, Webber, and AECOM.

The state projects $24.8 billion in concession value over 50 years.

The solution

For drivers, the project creates another option. You could remain in the free general-purpose lanes or pay for a more reliable trip in the Choice Lanes.

For nearby homeowners, however, added capacity means more construction, new structures, possible easements, and potential right-of-way acquisitions.

Those impacts will not be identical from parcel to parcel.

Action Step: If your property is near the corridor, follow TDOT’s official I-24 Southeast Choice Lanes project page, not only neighborhood rumors or preliminary screenshots.

2. Why homeowners are still in limbo

The market reality

TDOT has sent right-of-way letters to a limited number of homeowners and businesses.

That has understandably alarmed residents.

At a TDOT community meeting, Glencliff resident Allen Dyer described the neighborhood as “an affected community” and said it could lose 25 or 30 homes.

Residents at Noble Place Townhomes have also said they feel “left in limbo.” One owner purchased roughly two years ago and said the uncertainty makes it difficult to sell, particularly because the housing market is not strong enough to absorb an avoidable discount easily. Some owners and the developer are considering legal action.

What the letter does, and does not, mean

A right-of-way letter is not automatically a notice that the state is taking your home.

It generally means TDOT believes your property may be affected by the current project concept. The effect could involve:

• A full property acquisition.

• A partial acquisition.

• A temporary construction easement.

• A permanent slope or drainage easement.

• Access changes.

• Other construction-related impacts.

No final acquisition has occurred simply because you received a letter.

TDOT says the final footprint is not complete. The route will be finalized after the commercial and financial closing process, detailed design, and additional right-of-way work.

TDOT Commissioner Will Reid has said the state’s goal is to minimize impacts. He has also acknowledged that even if a home is not taken, an easement or slope impact may still affect a property and should be compensated.

The selected proposal includes a stated net reduction in right-of-way impacts. It also commits to avoiding Noble Place Townhomes, avoiding the Pan-Asia Supermarket through a Bell Road redesign, and eliminating the need to rebuild the Hickory Hollow Parkway Bridge.

Those commitments matter. They do not eliminate every question until the final plans are complete.

Takeaway: Treat a right-of-way letter as a serious planning notice, not a completed taking.

3. The timeline: what happens next?

The market reality

Infrastructure projects create uncertainty because the public hears a major announcement before parcel-level decisions are finished.

That is the current position on I-24.

The working timeline

• August 19, 2026: The Transportation Modernization Board approved DriveTN as TDOT’s selected private partner.

• By mid-October 2026: TDOT expects to finalize the commercial agreement.

• Spring 2027: Financial close is expected.

• After financial close: The route and detailed design will be finalized. Land acquisition can begin.

• Roughly 2027: Construction is expected to start.

• Early 2030s: The new Choice Lanes are expected to open.

That means a homeowner may face several years of uncertainty before the public sees the finished roadway.

The timing also matters if you are planning to buy, sell, refinance, renovate, or relocate between now and 2027.

Tip: Do not make a long-term real estate decision based on a preliminary map alone. Ask for the latest available project documentation and have your property reviewed by qualified real estate, appraisal, and legal professionals.

4. What compensation may look like

The market reality

TDOT has said impacted owners will receive fair market value under applicable state and federal rules. The process follows the Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970.

That generally means compensation for acquired property is based on the state’s appraisal of fair market value. It may also include eligible relocation benefits.

But fair market value is not necessarily the same as what you paid.

That distinction is critical in 2026.

If you bought in 2023, 2024, 2025, or 2026 at a higher price, added renovation costs, paid closing costs, and financed at a different rate, a current appraisal may not cover your total economic position.

The plain-language math

For residential occupants, TDOT’s September 8 Smyrna open house presentation listed benefits that may include:

• $500 for the first furnished room and $250 for each additional furnished room, or

• $400 for the first unfurnished room and $100 for each additional room.

• Reimbursement for eligible moving costs.

• Rental value benefits for qualifying rental property owners, not to exceed $9,570.

For businesses, benefits may include:

• A moving expense payment of $5,000.

• A $33,200 relocation payment for an eligible small business, farm, or nonprofit.

• Moving expenses or lost-revenue payments up to $53,200, depending on eligibility.

These figures describe potential benefit categories. They are not a promise that every owner receives every payment.

The numbers also do not automatically compensate for inconvenience, lost future appreciation, emotional attachment, or every dollar invested in a property.

The current mortgage environment adds another problem. A 30-year fixed mortgage moved to roughly 7.2% this week and briefly reached about 7.45% on September 24.

Replacing a home may cost more each month, even if the acquisition payment appears fair on paper.

Action Step: Keep receipts, contracts, renovation records, moving estimates, leases, business revenue records, and every TDOT communication. Do not sign an agreement before you understand what rights and benefits you may be giving up.

5. What property owners should do now

The market reality

Waiting for certainty can feel like the safest option. It can also leave you unprepared when the next letter or map arrives.

A practical owner checklist

Takeaway: Prepare now. Do not panic. Do not assume the state’s first number is the only number that matters.

6. What this means for buyers and sellers

The market reality

The phrase “under contract, awaiting TDOT” is becoming a real negotiation point.

For sellers, disclosure and documentation will matter. If a property received a right-of-way letter or sits within a publicly identified study area, buyers and lenders may ask for:

• The letter and all attachments.

• Current TDOT maps.

• Any appraisal or engineering information.

• Clarification about easements.

• Construction and access risks.

• Insurance and financing implications.

For buyers, the project creates short-term friction. Appraisals may require more explanation. Due diligence may take longer. A lender may want additional documentation before approving the loan.

That does not mean every home near I-24 is a bad purchase.

It means the property must be evaluated on its exact location, not only its ZIP code.

Longer term, the project could change the commute math for Antioch, Smyrna, La Vergne, and Murfreesboro. Added capacity, park-and-ride facilities, and transit integration could support stronger regional connectivity.

But the benefits will not erase the short-term costs for households that lose property or endure years of construction.

Tip: If you are buying or selling nearby, make the Choice Lanes project part of the written negotiation and due-diligence process. Do not leave it as an informal assumption.

7. The accountability layer

The project also has a political and financial oversight component.

State Sen. John Ray Clemmons asked Comptroller Jason Mumpower to investigate former TDOT Commissioner Steve Townsend’s move to Cintra. Mumpower has said the issue will be examined in the comptroller’s 2027 TDOT audit.

On September 24, a Georgia congressman also questioned federal funding for the project. The deal depends in part on a federal TIFIA loan.

These issues should be watched. They are relevant to accountability and financing.

They are not the same as a final determination about your individual property.

For property owners, the most immediate questions remain practical:

• Is my parcel affected?

• If so, how?

• When will the footprint be final?

• What is my property worth today?

• What benefits may apply?

• Should I sell, hold, renovate, refinance, or wait?

Final Thoughts

The I-24 Southeast Choice Lanes project addresses a real congestion problem.

TDOT says private financing is the only realistic path to delivering a $9.2 billion expansion without consuming several years of the state’s transportation budget. That argument has weight.

The project also places a heavy burden on a smaller number of households and businesses. For those owners, fair market value and relocation benefits may still fall short of the financial and emotional cost of being forced to move.

Both things can be true.

If you own property in South Nashville, Glencliff, Antioch, Smyrna, La Vergne, or along the Murfreesboro side of the corridor, now is the time to become informed and organized.

If you are considering a purchase or sale near I-24, Elizabeth Story at Epique Realty can help you evaluate the real estate questions without overstating what is known or minimizing what is at stake. You are welcome to reach out for a thoughtful, property-specific conversation.

For official updates, review TDOT’s project information and the state’s August 19 DriveTN announcement. For additional local reporting, see NewsChannel 5’s coverage of property impacts and the project timeline.

Elizabeth Story, Real Estate Broker Epique Realty | REALTOR® elizabeth@storyestates.com (619) 742-3979 Mobile (888) 893-3537 Office TN DCI #361186 CA DRE #01773118 www.storyestates.com