Two issues. First you will need to see if the nail has indeed punctured the tire. Sometimes it is just a short roofing nail that will not penetrate all the way in.
Repairs usually entail taking the tire off the rim and inserting, from the inside, a special plug with an adhesive glob to effect a long lasting seal. The glob will not stick to the quieting foam, so it will need to be totally removed at that spot and ground down to the bare rubber with a powered burr. Then they will ream out the hole with a calibrated sizer to make the best possible repair...good as new. (almost)
Some places like Discount tire will do repairs for free, otherwise expect $20-30 for the repair (still totally worth it)