How do I fix nail pops in my sheetrock?

After locating the nail pop determine if it is in fact a nail or perhaps a screw.  If it is a nail you will need to take a hammer and perhaps a large nail set and tap this nail back under the sheetrocks surface. 

If is a screw and not a nail, you will need to chip away at the sheetrock mud covering the head of the screw and use a screwdriver to set it back below teh surface of the sheetrock.  If you struggle getting this to happen, it could be because the screw is not hitting wood under the sheetrock.  When this is the case, the screw has a tendancy to stay above the surface.  Beings it is not hitting wood, it is not any help to the sheetrock, so you can simply remove it all together.

After you have recessed your nail or screw you will need to get some sheetrock mud.  You can buy this in small quantities for cheap.  Take a putty knife and fill the holes.  Wait for the mud to dry completely then lightly sand the are flush with the wall.  You will most likely need to recoat the hold with mud after sanding because the mud will shrink while drying.

Once you have filled the hole, sanded, filled the hole again, and sanded again, you should have a smooth wall.  Only problem, is your patch is not the color of your wall.  Use leftover paint to touch up the area and hide those nails for the last time.