While supply is up a bit from a year ago (a good thing for a healthy market), the appreciation rate over the last year in Nashville, TN was still over 7%. That's better than virtually any stock I've seen recently. The increased supply should serve to minimize competition a bit and offer home buyers a smidge more selection as well. It should also help prevent the notion of a bubblier market. See the August 2018 data from the Greater Nashville Realtors here.