This late-1921 article recapping the year in books predicted: “The average of fiction was but fair, and it is to be doubted if anything of lasting import appeared.” Well, now we know: nothing of lasting import appeared.
Looking at the Publishers Weekly list of the 10 bestselling novels of 1921, as of this writing, only four of them even have Wikipedia articles. (And Wikipedia seemingly has an article about everything.) The most famous of the 10 today is unquestionably #4, The Age of Innocence by Edith Wharton — but that was actually published the year prior, in 1920.
There were certainly novels of lasting fame published in other 1920s years: Ulysses in 1922, The Great Gatsby and The Trial and Mrs Dalloway in 1925, The Sun Also Rises in 1926, All Quiet on the Western Front and A Farewell to Arms and The Sound and the Fury in 1929.
In 1921, though, not so much.
The Year in Books
Published: Sunday, November 27, 1921