The Predators came into the game having lost three of four on the road, and it looked as though they might have to go to overtime to have a chance to celebrate their return home with a victory.
But Paul Kariya kicked the puck to himself from behind the net at the boards and found Legwand in front. Legwand scored his eighth goal to give Nashville the win and points in a 10th straight home game.
Vern Fiddler and rookie Alexander Radulov each had a goal for Nashville, and J.P. Dumont had two assists.
Fernando Pisani had a goal and an assist, Marc-Andre Bergeron had a goal, and Raffi Torres had two assists for Edmonton, which lost its second straight in wrapping up a three-game road trip.
The Oilers tried to pressure goalie Chris Mason, making his 10th straight start with Tomas Vokoun out with torn ligaments in his right thumb. But he stopped Torres from the edge of the left circle with less than 30 seconds remaining.
Mason stopped 38 shots to improve to 5-3-1 since taking over for Vokoun.
The Predators may have relaxed too much returning to Nashville after playing an NHL-high 19 of their first 29 games away from home. Edmonton outshot them 14-8 in the first period.
But they came out and scored twice on their first three shots of the second period.
Fiddler put Nashville up 1-0 only 48 seconds into the frame, backhanding a shot from the right circle past sprawling goalie Dwayne Roloson.
The Predators led 2-0 at 2:29 of the period on a power-play goal by Radulov from in front. He poked in a bouncing puck off a shot by Shea Weber against the NHL's stingiest team on the penalty kill.
But the Oilers, who lost 4-1 in Chicago on Sunday, rallied almost immediately with two goals within 28 seconds.
Pisani scored at 4:30 by pushing the puck over Mason's left side, and he assisted seconds later on Bergeron's fourth goal. Bergeron pushed in a rebound of a shot by Torres to tie it at 2.
Notes: Nashville's Barry Trotz tied former New York Rangers coach Lester Patrick for 19th on the career list by coaching his 604th game with the same team. ... The Oilers had allowed 13 power-play goals on 140 chances coming into this game. ... Nashville is 12-6-2 when outshot. ... Oilers RW Ales Hemsky (shoulder) missed his seventh game. ... Oilers forward Jarret Stoll extended his point streak to five games with an assist, giving him six points (one goal, five assists). ... Nashville C Jason Arnott is expected back Thursday following arthroscopic surgery on his right knee. Fellow center Steve Sullivan was scratched for a second straight game.