While broader US housing has posted three consecutive years of softer sales, ultra luxury is telling a different story.

In 2025, the top 10 ultra luxury markets recorded:

• 1,601 sales at $10M+
• $28.6 billion in total volume
• 31 percent increase in transactions year over year
• 23 percent increase in dollar volume

That is re acceleration at the top.

Historically, $10M+ real estate follows liquidity events. Equity gains, IPOs, mergers, acquisitions, and private capital exits convert paper wealth into deployable capital. The strength in this tier reflects sustained confidence.

What Today’s $10M+ Buyer Actually Wants

This is not impulse purchasing. It is capital allocation tied to lifestyle and legacy.

Ultra high net worth buyers in 2026 are prioritizing:

• Privacy as infrastructure, not an upgrade
• Large acreage or luxury urban living with controlled access
• Wellness-driven design with natural light, gym, spa, and recovery spaces
• Advanced smart home integration and security systems
• Sustainable materials and energy efficiency
• Architectural distinction with long-term value

They are not buying square footage. They are buying control, longevity, and peace of mind.

Discretion is also central. Off-market and pre-market strategies, including Compass Private Exclusives, allow exposure to be controlled and demand to be calibrated. For sophisticated sellers and buyers, privacy is leverage.

The Nashville Correlation

In Davidson and Williamson Counties, there are currently 31 properties listed at $10M and above.

The majority are large-acreage estates in Franklin. That aligns directly with national demand for land, privacy, and long-term hold value in growth markets.

Within Davidson County, Belle Meade holds the next highest concentration of $10M+ listings. Belle Meade remains Nashville’s legacy wealth enclave with limited supply and enduring pricing power.

Downtown Nashville now includes three ultra luxury condo residences priced between $13M and $33.5M, including offerings at Four Seasons Residences Nashville. The fact that penthouses in Nashville are achieving this pricing reflects capital confidence and global interest in the city.

The Bottom Line

Ultra luxury real estate is not retreating. It is becoming more selective. Nationally, capital at the top remains active. Locally, Nashville is clearly participating in that cycle.

At $10M and above, this is not a market driven by urgency. It is driven by precision. Strategy, discretion, and positioning are what separate visibility from true execution.