Air carrier Captain reported elevated terrain near the runway end is adversely effecting the radio altimeter making CAT II approaches unfeasible.

Narrative

Attempting the ILS 2R CAT II approach into BNA we received the minimums callout of 120' on the RADALT (Radar Altimeter) earlier than expected on the first approach without the runway in sight and conducted a go around. Even though the visibility was being called at an RVR greater than 3000; several aircraft had to conduct go arounds. On the second attempt at the CAT II approach we were able to breakout from the IMC conditions at minimums; but noticed that the aircraft was further from the runway threshold than expected.When later taxiing to depart from Runway 2R; both pilots noticed a large tiered hill immediately before the runway approach end. After further review of FOQA data; the RADALT reading on the first attempt reached 120' going as low as 115' before INCREASING to 130' before steadily decreasing again through the published minimums to about 80' before the engines spooled to complete the go around. FOQA data also showed a similar increase in RADALT reading after the first instance of reaching 120'.I believe this shows that the elevated terrain immediately before the runway is adversely effecting the RADALT reading on this approach making this CATII approach unfeasible and unavailable at weather minimums.