The state of being in a motion affected by no acceleration (force) other than that provided by gravity.
(common usage) The state of falling with no interference from outside forces other than the air resistance (no open parachute, etc.)
(by extension) The state of worsening out of control.
As civil war continues in Iraq, the U.S. president's approval ratings are in freefall.
To drop in a state of freefall.