I ride the Trace once or twice a week. It is VERY bike friendly. I ride it on Tuesday's after work and Saturday mornings. The Harpeth Bike Club of middle TN has many organized group rides with some on the trace. Check out their website at www.harpethbikeclub.com.

It is probably the most biked roads in central TN so cars and motorcycles are used to us and mostly respectfull. I've been on a group rides where cars will follow the pack for 3 or 4 miles before passing. Great rolling hills with nice pavement and a lot of scenary. 40 mph speed limit so not a lot of traffic. There is no commercial development on the trace so you will only see exits about every 20-30 miles. Plan your ride accordingly. A great place to start is at the intersection of highway 96 and the Trace - just West of Franklin, TN. Here is a link to a photo of the bridge that you can ride across. Awesome views.... http://www.fhwa.dot.gov/eihd/natchez.htm

There are tons of hotels off of I-65 right around Franklin if you are looking for a place to stay. Good luck.