A system that executes a long transaction in a system with limited transactional hardware resources. During operation, the system executes the long transaction in a non transactional mode, which does not use transactional hardware resources. The system defers stores generated during the long transaction so that the stores are not committed to the architectural state of a processor until the transaction is successfully completed. If the long transaction successfully completes, the system commits the long transaction, which involves performing multiple hardware transactions to commit the deferred stores to the architectural state of the processor.