We propose an interpretable, graph-based framework for analyzing semantic shift in diachronic corpora. For each target word and time slice, we induce a word-centered semantic network that integrates distributional similarity from diachronic Skip-gram embeddings with lexical substitutability from time-specific masked language models. We identify sense-related structure by clustering the peripheral graph, align clusters across time via node overlap, and track change through cluster composition and normalized cluster mass. In an application study on a corpus of New York Times Magazine articles (1980 - 2017), we show that graph connectivity reflects polysemy dynamics and that the induced communities capture contrasting trajectories: event-driven sense replacement (trump), semantic stability with cluster over-segmentation effects (god), and gradual association shifts tied to digital communication (post). Overall, word-centered semantic graphs offer a compact and transparent representation for exploring sense evolution without relying on predefined sense inventories.