Let $H$ be the Hilbert class field of a CM number field $K$ with maximal totally real subfield $F$ of degree $n$ over $\mathbb{Q}$. We evaluate the second term in the Taylor expansion at $s=0$ of the Galois-equivariant $L$-function $\Theta_{S_{\infty}}(s)$ associated to the unramified abelian characters of $\operatorname{Gal}(H/K)$. This is an identity in the group ring $\mathbb{C}[\operatorname{Gal}(H/K)]$ expressing $\Theta^{(n)}_{S_{\infty}}(0)$ as essentially a linear combination of logarithms of special values $\{\Psi(z_{\sigma})\}$, where $\Psi\colon \mathbb{H}^{n} \rightarrow \mathbb{R}$ is a Hilbert modular function for a congruence subgroup of $SL_{2}(\mathcal{O}_{F})$ and $\{z_{\sigma}: \sigma \in \operatorname{Gal}(H/K)\}$ are CM points on a universal Hilbert modular variety. We apply this result to express the relative class number $h_{H}/h_{K}$ as a rational multiple of the determinant of an $(h_{K}-1) \times (h_{K}-1)$ matrix of logarithms of ratios of special values $\Psi(z_{\sigma})$, thus giving rise to candidates for higher analogs of elliptic units. Finally, we obtain a product formula for $\Psi(z_{\sigma})$ in terms of exponentials of special values of $L$-functions.