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Market Update · Jun 06, 2026

Where do unsold Nashville Airbnbs go? Mostly nowhere.

If they won't sell on the MLS, are owners exiting off-market instead? I matched every since-2023 NOO-STR listing to recorded deeds. The escape hatch barely exists.

Author Ethan Flynn
Reading time 5 min
Snapshot Week of 06-06-2026

The last piece showed the investor-Airbnb (NOO-STR) market glutting the MLS: ~186 active listings, only about eight going under contract in a typical month, a third already cutting price. That raises an obvious question. If these properties won't sell on the MLS, are owners quietly exiting off it — selling privately to other investors, wholesalers, or bulk buyers, the kind of deal that shows up as a recorded deed with no MLS sale behind it?

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