old vs long-time

old is a noun but long-time is not a noun.

Word	Noun	Adjective	Verb	Adverb
old	Yes	Yes	No	No
long-time	No	Yes	No	No

old (noun)	long-time (noun)
past times

old (adjective)	long-time (adjective)
of long duration; not new	having existed or persisted or continued in a particular role or state for a long time
(used especially of persons) having lived for a relatively long time or attained a specific age
skilled through long experience
(used for emphasis) very familiar
excellent
just preceding something else in time or order
belonging to some prior time