1. Preheat your oven to 350°F (175°C) and grease a 9-inch round cake pan. Line the bottom with parchment paper for easy removal.
2. In a medium bowl, whisk together the flour, baking powder, baking soda, and salt. Set aside.
3. In a large bowl, cream the butter and sugar together until light and fluffy, about 3 minutes. This step is crucial for achieving that perfect cake texture.
4. Add the eggs one at a time, beating well after each addition. Stir in the vanilla extract.
5. Alternately add the flour mixture and sour cream to the creamed mixture, beginning and ending with the flour. Mix until just combined.
6. Fold in the cream cheese and chopped pecans gently, ensuring they are evenly distributed throughout the batter.
7. Pour the batter into the prepared cake pan and smooth the top with a spatula.
8. Bake for 45-50 minutes, or until a toothpick inserted into the center comes out clean. Let the cake cool in the pan for 10 minutes before transferring it to a wire rack to cool completely.
9. Once cooled, drizzle the caramel sauce generously over the top of the cake. Let it cascade down the sides for an elegant finish.

Remember, patience is key. Allowing the cake to cool completely before drizzling the caramel ensures it sets beautifully and doesn’t become a sticky mess.