No matter what this is a good move for Nashville because $1 mil is NOTHING. 13th forwards get 1 mil.
Best case scenario is he gets his head out of his rear end and he puts up a 20-25-45 type season. Hodgson will forever be a 40-49 point scorer in his best years. He was one of the worst players I have ever seen last year which was surprising since the two before that he was a solid 2nd liner.
Don't expect much and you won't be disappointed. He might surprise and return to 20g 40p form and if that's the case then you guys got a steal. He's only 25, and while he is done developing and will never be a first liner I can see him returning to his previous form and putting up 40-45 points a season again.
Hodgson was a 41pt producer in his rookie year mostly spent sheltered on the 3rd line and still rehabbing from a misdiagnosed/mismanaged back injury. He then went on to pace for 68pts in the shortened season with some highly regarded linemates but on a roster without depth/support, and then managed to put up 44pts in his full sophomore year on a near entirely gutted roster.
So you're thinking his ceiling with quality linemates on an established roster, under consistent coaching and playing a game style far more suited to his offensive talents is 40-45pts? I think he can get back to his offensive production form too, but that if he does you're looking at a quality 2nd-liner who puts up 55-65pts by routine.
As for developing being done, I'm not sure where you get that 25 is the cut off. Some guys don't even break into the league until 26 (see: Moulson, who went on to put up multiple 30+ goal season), break 30pts until they're 26 (see: Gionta, who at 25 hit 29 pts and at 26 hit 89pts), hit their prime until 29 (see: Sedin), etc.
Some of it's situational of course but some of that is also simply development. Body gets stronger, circumstances wake up the mentalty/drive, etc. A guy may not get any better after a certain age, but no player is, by definition, done developing at 25 - if he's still in the NHL anyway, lol.