If the list is being marketed by everyone and their dog, then you'll spend a whole lot more money remarketing them before you get a bite, and if it's saturated then it'll be because of timing more than anything.How much are you spending on AdWords and who are you targeting?

Also, I can tell you from experience that the New Orleans area has reached a point of complete saturation with real estate investors which has made the competition fierce.

The market is so saturated with investors and prices keep going up.That being said, you can get lucky and get something good.

Being newer to the scene and to the area, I would stick with areas that are well saturated with big guys that are well-known.

@Ron Dayley Clarksville looks saturated with rentals, do you have any insight?

The area is just saturated with rentals. 

It's something I'm looking into but finding a market that isn't over saturated is a struggle in its own.

Seems fairly saturated at least via the listing services ("low-hanging fruit"). 

Also, make sure to invest in a market that is not over saturated with investors (there are a few of them out there) You do not want to be last to the party.

I have heard the Nashville market is becoming ever so saturated, but I have had many people say its still going to grow seeing that the price per square foot is on the rise...