This is a song about an ex-lover who she doesn’t exactly think she will never ever get back together with. Although their relationship is over, she has no bitter feelings towards him. A part of her wishes he would try to get back with her, as she would not decline. It also flirts with the idea of a friends with benefits relationship.
A fan who attended the 1989 Secret Sessions held by Queen T herself posted the following story on Tumblr
Taylor said that she wrote “I Wish You Would” a couple of months after her and Harry [Styles of One Direction] broke up, and they decided to become friends again and she said this was the first time she had become friends with an ex to the point where they were comfortable enough to talk about why the relationship didn’t work out. She said he told her about how, after they broke up, he bought a house literally one road adjacent to hers. Every day he would drive home, and accidentally turn into her street, and he told her how he just wanted to stop at her house and see her, but he never did. She said this song is about while he was in the car making the decision to get out the car and see her, she was sitting in her bedroom, wishing he would make the move and go back to her and just pitch up at her house. She compared it to a classic John Hughes movie where both parties want the same thing but neither has the guts to say anything. Honestly, she spoke so fondly of that relationship. She really does miss it.
Lyrics
[Verse 1]
It's 2AM in your car
Windows down, you pass my street, the memories start
You say it's in the past, you drive straight ahead
You're thinking that I hate you now
'Cause you still don't know what I never said
[Chorus 1]
I wish you would come back
Wish I never hung up the phone like I did, I
Wish you knew that
I'd never forget you as long as I live, and I
Wish you were right here, right now, it's all good
I wish you would
[Verse 2]
It's 2AM in my room
Headlights pass the window pane
I think of you
We're a crooked love in a straight line down
Makes you want to run and hide
But it makes you turn right back around
[Chorus 2]
I wish you would come back
Wish I never hung up the phone like I did, I
Wish you knew that
I'd never forget you as long as I live, and I
Wish you were right here, right now, it's all good
I wish you would
I wish we could go back
And remember what we were fighting for, and I
Wish you knew that
I miss you too much to be mad anymore, and I
Wish you were right here, right now, it's all good
I wish you would
[Post-Chorus]
I, I, I, I, I, I wish I, wish I
I, I, I, I, I, I wish I, wish I
I, I, I, I, I, I wish I, wish I
[Bridge]
You always knew how to push my buttons
You give me everything and nothing
This mad, mad love makes you come running
To stand back where you stood
I wish you would, I wish you would
(I wish you would, I wish you would)
I wish you would, I wish you would
(I wish you would, I wish you would)
[Verse 3]
2AM, here we are
See your face, hear my voice in the dark
We're a crooked love in a straight line down
Makes you wanna run and hide
But it made us turn right back around
[Chorus 2]
I wish you would come back
Wish I never hung up the phone like I did, I
Wish you knew that
I'd never forget you as long as I live, and I
Wish you were right here, right now, it's all good
I wish you would
I wish you would come back
Wish I never hung up the phone like I did, I
Wish you knew that
I'd never forget you as long as I live, and I
Wish you were right here, right now, it's all good
I wish you would
I wish we could go back
And remember what we were fighting for, and I
Wish you knew that
I miss you too much to be mad anymore, and I
Wish you were right here, right now, it's all good
I wish you would
[Outro]
(I, I, I, I, I, I wish I, wish I)
You always knew how to push my buttons
You give me everything and nothing
This mad, mad love makes you come running
To stand back where you stood
I wish you would, I wish you would
(I wish you would, I wish you would)
I wish you would, I wish you would
(I wish you would, I wish you would, I wish you would)
(I, I, I, I, I, I wish I, wish I)
I, I, I, I, I, I wish I, wish I
I, I, I, I, I, I wish I, wish I
I wish you would