Preheat your oven to 350°F and prepare the Bundt pan by coating it with the baking spray.

In a mixing bowl, cream together the sugar and softened butter with a mixer on medium-high speed until it becomes light and fluffy (about 2 to 3 minutes). Don’t forget to scrape down the bowl as needed!

Add the eggs one at a time, mixing just until combined after each addition. Toss in the vanilla, beating until just incorporated.

In a separate bowl, combine the flour, baking powder, salt, nutmeg, and baking soda. With the mixer on low, gradually add this dry mixture to the butter mixture, alternating with the buttermilk. Start and end with the flour mixture, mixing until just combined.

Spoon the batter into the prepared Bundt pan and give it a gentle tap on the counter 3 to 5 times to help release the air bubbles.

Bake in the preheated oven for about 45 to 50 minutes, or until a wooden pick inserted into the center comes out clean.

Once done, let it cool in the pan on a wire rack for 15 minutes. Then invert the cake onto a cutting board and flip it back so the rough side is facing up. Allow it to cool completely on the rack for about an hour.

For the glaze, whisk together the powdered sugar and water in a medium bowl until smooth, then brush it over the cooled cake. Slice, serve, and enjoy!