Suppose that there are five hard links for /home. The five hard links are /home/., /home/.., and for the three subdirs s of /home /home/s/... Note that if /home is on its own partition, then the references to /home/.. and /home/. are identical, however /home/.. is nonetheless evaluated to /. This is because every directory has entries for . and .., even a root directory. If instead /home were a plain subdirectory of /, then /home had still five hard links since now /home (as a directory entry of /) points to /home.
Final note: yes, it is possible to hard link a directory to another directory, but only root can do that for a good reason: the file system tree must not contain cycles.
/homethen? – Tim Oct 02 '14 at 17:51