I'm "hearing" this as a country song, of course.
It all scans well and feels like it will fit a nice country groove well. My main issue is that it's a well used story for a song lyric, probably over-used. But with the right music it could, of course, transcend this. I guess Nashville is for wannabe singers what LA is for wannabe starlets. Hell, wannabe guitar players head for Nashville too - I recall the late Pete Huttlinger (RIP feller - Pete died just a few months back after a life of major health issues) who was one of the finest pickers on this planet saying that the Nashville studio bosses told him they could dial up any number of equally good pickers any day!
I love the image of the old guitars handing on the pawnshop walls still ringing with the songs that came from them, although the actual wording of the couplet jarred a little:
Pawnshops, full of ghosts that hang
Still ringing with the songs they sang
The last word feels wrong on account of the guitars never sang the songs. Normally I don't mind a little bit of leeway with such things, but here it feels like the words is chosen to make the rhyme rather than because it's the best word/image.
In verse one I was puzzled by the line "So much to lose" when it seemed to me that the singer had already lost everything. But I love her golden dreams turning to blue.
I felt you over-used the word gold a little in the middle part of the song. I get the repetition, but maybe think about taking it out of the verse?
So, Nashville's where they come to find that gold
CHORUS:
Oh Nashville, you sparkle like a diamond
You're the dazzling El Dorado of the south
There's nothing shining brighter
For those singers and song writers
Who come here for that lucky strike of gold
Hoping for their lucky strike of gold
Lastly you had an AAABBB rhyming scheme for all the verses except 2a when you went to AABCCB. Is this to be a bridge rather than another verse?
Definitely enough here to make it worth while continuing through to a full song - and country being my thing I shall look forward to hearing it!