Weekly Real Estate News Roundup: BNA's Runway Bet, Tennessee's Property Tax Vote & Nashville's $4.3M Penthouses (Oct 22, 2026)

Welcome to Thursday’s CA and TN real estate roundup. This week brings a major airport vote, a statewide property-tax amendment, new luxury options in Nashville, and a slower pace in Williamson County and San Diego. Here’s what the headlines may mean for your next move.

1. Mortgage rates: the headline held, the bond market moved

Freddie Mac’s 30-year fixed mortgage rate averaged 7.40% for the week ending October 15. That was unchanged from the prior week and near a three-year high. Its next weekly release is due October 29, so 7.40% remains the official benchmark for now.

Daily tracking on October 22 put 30-year rates around 7.37%, while the 10-year Treasury yield fell to roughly 5.03%. The yield movement came amid geopolitical tension and fresh economic data, according to CNBC. But a modest daily move does not guarantee a lower mortgage quote.

The bigger picture remains challenging. Fannie Mae and the Mortgage Bankers Association forecast 30-year rates holding at or above roughly 7.3% to 7.5% through 2027. MBA also expects mortgage originations to fall about 5% in 2027. Read the MBA forecast and the Freddie Mac weekly release.

A 0.03% headline dip is not a strategy. Your actual payment, loan terms, and rate-lock timing matter more than a single daily snapshot.

Action Step: Ask your lender to compare the payment at the rate you can lock today with the payment at a rate you can realistically afford. You can also run your own numbers with this mortgage calculator.

2. BNA votes to take back land for a runway that could change the map

On October 21, the Metro Nashville Airport Authority board voted to end a long-standing land lease with Metro Nashville. The airport wants the property to extend Runway 2L, now 8,000 feet, by nearly 4,000 feet.

The land sits at Murfreesboro Pike and Knight Valley Drive and includes Metro offices and maintenance facilities. Metro has two years’ notice to vacate. The runway project is expected to begin in late 2027. The stated goal is to accommodate long-haul international flights, with Asia connectivity named as a target. Read WKRN’s report on the vote.

For the Nashville real estate market, airport capacity is one factor to watch. Longer runways and international routes could support corporate relocation, cargo activity, hotel demand, and rental demand south of the airport and into Rutherford County. Those are potential effects, not guaranteed outcomes or automatic price increases.

There is also a practical tradeoff. If you are considering property near the runway’s extended approach, evaluate aircraft noise contours and flight paths alongside your commute, budget, and other priorities.

Action Step: If you’re looking near the airport corridor, make noise exposure and the project’s current timeline part of your due diligence. Don’t base a purchase on projected growth alone.

3. Tennessee’s Amendment 2: what the statewide property-tax vote does, and doesn’t do

Tennessee voters will decide Amendment 2 on November 3, 2026. A “yes” vote would amend the state constitution to remove the General Assembly’s authority to create a statewide property tax. Tennessee has set that rate at zero since 1949; the amendment would make that permanent.

The key point for homeowners: Amendment 2 does not change local city or county property taxes. Your local levies stay as they are. If you own or are buying in Williamson County, the amendment does not change your assessment or county tax rate.

The vote also has a specific threshold. Yes votes must exceed half of all votes cast in the governor’s race. Skipping the amendment question can effectively raise the bar for passage.

Supporters, including Beacon Center of Tennessee’s Jack Powers and sponsor Rep. Tandy Darby, describe the measure as taxpayer protection and local control. Critics, including Sen. Heidi Campbell, argue that Tennessee’s tax system is regressive. They point to the state’s second-highest sales tax and an ITEP ranking that places Tennessee third most regressive. Critics also warn that a permanent ban would remove a future state-level tax option. For more detail, see Hoodline’s Amendment 2 explainer.

Action Step: Separate the statewide constitutional question from your local property-tax bill. If you’re budgeting for a home, review the local assessment and rate that apply to that property.

4. Nashville development: a West End tower, $4.3M penthouses, and an industrial conversion

The long-vacant Piggly Wiggly site at 2900 West End Ave. is under contract from H.G. Hill Realty to Richland Building Partners. The 1.48-acre site has three parcels and has been owned by the family since 1923.

The planned 15-story tower would include 110 residential units, 260 hotel rooms, 10,000 square feet of restaurant space, and 20,000 square feet of ground-floor retail. A Metro Board of Zoning Appeals variance in August cleared the height path. Closing timing, price, and hotel brand have not been made public. See Hoodline’s coverage of the West End site.

In Midtown, Voce Hotel and Residences released penthouse renderings for its 25-story project at 18th Avenue North and Hayes Street. The seven penthouses range from the high $600,000s to $4.3 million. Roughly 60% of released residences are pre-sold, with delivery targeted for fall 2027. The condo-hotel structure allows owners to join an on-site nightly rental program outside Metro’s standard short-term rental permits. Details are in Hoodline’s Voce report.

For a California buyer exploring California luxury real estate and relocating to Tennessee, Nashville’s $4 million-plus boutique inventory may offer options you don’t expect at that price point. For investors, a condo-hotel can be a real estate investment Tennessee opportunity, but rental income is not automatic. Verify HOA rules, program terms, and how a lender will treat projected income before you rely on it.

Also on October 21, Hamilton Development and Clarion Partners announced plans to turn the former Bridgestone tire plant in La Vergne into a 1.5-million-square-foot industrial park. Read the development announcement.

Action Step: If you’re comparing luxury homes for sale in Franklin TN with Nashville condos, compare total ownership costs and intended use, not just asking prices. For a condo-hotel, get the rental and financing details in writing.

5. Williamson County: downsizing demand meets slower showings

Franklin’s Board of Mayor and Aldermen and Municipal Planning Commission held a joint work session on Thursday, October 22, to review upcoming development proposals. No votes were scheduled.

One local alderman says longtime Cool Springs homeowners want to downsize without leaving their community. Yet for-sale townhomes are hard to find there while apartment supply continues to grow. She sees demand for owner-occupied townhomes. Read FOX 17’s Cool Springs report.

Weekly Williamson County data for the week ending October 17 shows 1,743 homes for sale and 3.82 months of supply. There were 84 new listings, 57 homes under contract, and 55 closings. The contract count was down from 92 in the same week last year.

Of the active listings, 476, or 27%, are relisted. Homes are getting barely above half a showing per listing per week, compared with more than two earlier in 2026. Still, 32% of homes that went under contract did so in their first seven days. See the Williamson County weekly analysis.

For sellers, the early days matter. In a quieter market, your price and photography need to make a strong first impression. For buyers, relisted homes may offer room to negotiate, but each home’s condition, pricing history, and seller priorities matter.

Action Step: Sellers: review your pricing and photo set before launch. Buyers: look closely at relisted homes and ask what has changed since the first attempt.

6. California: San Diego’s September numbers and a high-end South Bay contract

Greater San Diego Association of REALTORS® data puts the county’s September median sales price at $910,000, up 1.7% year over year. Closed sales fell 14.0% to 1,737. There were 5,684 homes for sale. The detached median was $1,079,000, while the attached median was $670,000. You can review the September 2026 San Diego County indicators.

In Los Angeles County, a Palos Verdes Estates home asking $15 million went under contract amid a run of expensive South Bay trades. At the same time, the $4 million to $5 million range is where most LA luxury contract activity is happening. Read the reports on the Palos Verdes Estates contract and lower-end LA luxury activity.

If you’re relocating to Tennessee, a San Diego sale at the county median can translate into meaningful purchasing power in Williamson County, but timing still matters. A slower transaction can disrupt a move if you commit to a Tennessee closing before your California sale is secure. Plan the sequence early, or discuss a bridge strategy before making commitments.

Action Step: Coordinate your California sale and Tennessee purchase timelines before setting a closing date. You can explore local areas through our neighborhood guide.

Final Thoughts

This week’s headlines point to one useful theme: details drive decisions. A small rate movement doesn’t replace a payment plan. A runway expansion is not a guarantee of nearby appreciation. A property-tax amendment does not alter county taxes. And in a slower market, pricing, timing, and property-specific due diligence matter.

Whether you’re buying, selling, investing, or relocating between California and Tennessee, you don’t have to map out every step alone. If you’d like to talk through your options, reach out to Elizabeth Story at Epique Realty. It can be a simple, no-pressure conversation.

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