Pulling cores is the one compaction remedy that leaves you with a lawn afterward. Tilling or renovating from scratch loosens soil too, and both kill the grass to get there. So on genuinely compacted ground an aerator is the right machine, and I say that plainly because the fashionable overcorrection lately is to claim aeration does nothing for compaction at all. Also wrong.
The qualifiers are density and depth. Research measures cultivation in cores per square foot, not in passes. Kansas State puts effective cultivation at 15 to 30 cores per square foot, and one pass with a commercial spoon aerator lands at roughly half that or less, which is why two to three passes is the real number. I walked through that core-density math here.
Depth is the part that matters in a graded subdivision. A good core comes out about two inches long. The compaction a builder left came from tracked equipment on soil already stripped and rolled, and it sits below where any aerator tine travels. Cores work the top couple inches, which is the layer deciding whether water and air reach the root zone, and they never touch the pan underneath. Then Williamson County clay swells, settles, and takes the holes back within weeks. One spring pass a year is not a compaction program, and anybody selling it as one in Tollgate Village or Fields of Williamson is overselling a machine I own myself.