Medieval Dynasty attempts to do that. Despite having the word "dynasty" in its title, it's peasant centered. Early game is about building a house and trying to survive. Later game is building a village, recruiting people, assigning jobs to them, and essentially being the mayor. In many respects, it's a first-person village builder.

The "Dynasty" part comes from being able to have children and pass the village along to them if you play long enough. But everyone in game is a peasant of some sort. Nobility is mentioned but never directly visible.

I wouldn't call the game accurate exactly. But it is fun. I especially enjoyed having a ground-level view instead of the birds-eye view of most city builders.