Three years of discussions between Nashville sports and tourism officials and IndyCar executives preceded the formal announcement on September 16, 2020. Two earlier attempts to bring IndyCar racing to Nashville — in 2010 and 2015 — had both failed, each led by former Pocono Raceway president Joseph Mattioli III. The successful bid was initiated by event founder and CEO Matt Crews, who assembled a privately funded ownership group that included Scott Borchetta, Justin Timberlake, Dale Earnhardt Jr., Justin Marks, Stanton Barrett, and Gil West. Nashville's high-profile hosting of the 2019 NFL Draft was cited by Penske Entertainment Corporation president and CEO Mark Miles as one of the decisive factors in bringing IndyCar back to the city.
IndyCar CEO Roger Penske was initially sceptical, citing permitting requirements and infrastructure costs, but Nashville Convention and Visitors Corp president Butch Spyridon persuaded him that the city's event-delivery capability was unmatched. Two-time IndyCar champion and Nashville-area native Josef Newgarden called the race "the number-one destination outside of the Indy 500." Indianapolis 500 CEO Mark Miles compared the circuit's ambition to the Monaco Grand Prix. The Music City Grand Prix became the first new IndyCar street circuit race since the Grand Prix of Houston in 2013 and Nashville's first IndyCar race since the Indy 200 at Nashville Superspeedway ended in 2008.
The original Nashville Street Circuit measured 2.170 miles and comprised 11 turns. It ran adjacent to Nissan Stadium, which served as the race's host venue for the first three years. Track width varied from a minimum of 37 feet to a maximum of 80 feet. The circuit used a different location for its start than its finish line, as at Mid-Ohio Sports Car Course. Top speeds were expected to reach approximately 200 mph on the bridge straight.
Designer Tony Cotman deliberately routed the track away from Nashville's major arterial streets to minimise disruption to tourism. He identified the Korean War Veterans Memorial Bridge as the circuit's signature element, comparing its visual impact on television to the backdrop of the Queen Mary at Long Beach. Pundits and drivers including former Formula 1 competitors Romain Grosjean and Marcus Ericsson drew comparisons to the Baku City Circuit, noting the similarities between Nashville's downtown section and long bridge straights and Baku's castle sector and its lengthy straights. Cotman identified turns 1, 2, and 7 as the primary overtaking opportunities. Middle Tennessee State University's School of Concrete and Construction Management provided specialised concrete mixes for the barriers and pit lane.
In 2021 the inaugural Music City Grand Prix was held on August 8. Support series included GT America, the Trans-Am Series TA2 class, and the Stadium Super Trucks. Polesitter Colton Herta led the most laps but crashed while attempting to reclaim the lead from Marcus Ericsson, who won despite an early incident in which his car became airborne after making contact with the car of Sebastian Bourdais. Scott Dixon and James Hinchcliffe completed the podium. The race featured nine caution periods, with 33 of 80 laps run under yellow and two full stoppages.
In 2022 Scott McLaughlin took pole but the race was delayed ninety minutes by thunderstorms. The track was dried before racing began. McLaughlin led early before a caution allowed Scott Dixon to cycle to the front during the final pit-stop sequence. Dixon held on despite significant floor damage that reduced his downforce; McLaughlin finished a close second after conserving his push-to-pass. Alex Palou completed the podium. Eight caution periods again characterised the event.
In 2023 McLaughlin claimed pole for the second consecutive year. After a brief early caution the race ran almost entirely green, contrasting sharply with the two previous editions. Kyle Kirkwood seized the lead during the second green-flag pit-stop cycle. A late red flag for a three-car incident set up a final shootout; Kirkwood prevailed, with McLaughlin second and Palou third.
On August 3, 2023, IndyCar announced the Music City Grand Prix would host the season finale from 2024 onwards. The revised layout would have reduced the turn count from 11 to 7 while retaining the Korean War Veterans Memorial Bridge straights, and would have routed the circuit through Broadway in the heart of downtown Nashville past the city's famous honky-tonk bars. It would have been only the third street circuit to close an IndyCar season, following St. Petersburg in 2020 and Long Beach in 2021. The race was ultimately moved to Nashville Superspeedway when construction of the New Nissan Stadium created a conflict with the street circuit.
In its three editions the Music City Grand Prix established itself as one of IndyCar's most visually distinctive events, with the Cumberland River bridge straight becoming its signature image. The race revived downtown street-circuit racing in a major American city and demonstrated Nashville's capacity to organise large-scale international motorsport events.