Clear Capital says U.S. home prices, which fell 2.1 percent in 2011, should rise slightly this year. But not surprisingly, the numbers will vary significantly from city to city, even within the same region of the country. Perhaps more surprisingly, Clear Capital's researchers say the price of the average home in Nashville will lose 3.8 percent of its value in the coming 12 months, adding to a drop of 4.8 percent last year. Memphis and Charlotte are among our regional peers that are projected to fare much better.

“Although the national numbers suggest markets are flat, when looking at individual metro markets it turns out only 24% of them showed signs of stabilization in 2011, while the others are still moving more dramatically higher or lower. What’s most interesting is that the lower segments of appreciating markets are driving much of the current price growth. In places like Florida, which have historically been hard hit, we are now seeing considerable activity in lower-end properties as demand continues to heat up.”