I have an Amazon RDS instance. Freeable Memory has been declining since setup over 1-2 weeks, starting from 15GB of memory down to about 250MB. As it has dropped this low in
Freeable memory field is used by MySQL for buffering and caching for it`s own processes. It is normal for the amount of Freeable memory to decrease over time. I wouldn't be worried it kicks old info out as it demands more room.