When you combine the equations for isentropic flow
you can plot
"density compared to density at zero speed, M=0", i.e. $\rho / \rho_0$, as a function of M.
Anderson's Fundamentals of Aerodynamics
presents that as
$\rho_0 / \rho = (1+ \frac {\gamma -1}{2} M^2)^{\frac{1} {\gamma-1}}$ with $\gamma = 1.4$ for air (page 567, eq. 8.43).
Inverting,
$\rho / \rho_0 = (1+ \frac {\gamma -1}{2} M^2)^{\frac{1} {1-\gamma}}$.
I've copied a plot
of this below, but you can calculate it yourself if you like. The red curve shows that M = 0.3 isn't magical. (At M=0.3, the density ratio is 0.956.) It's just a convenient, practically useful threshold for everyday calculations.
Why isn't the red curve a straight line? Because these equations have proven to be a useful, accurate, predictive model of fluid flow in many fields, and these equations are nonlinear. You could replace them with linear ones if you liked, but the calculations you'd make with them would be less accurate.

Anderson's own plot, p. 573 fig. 8.6, agrees:
