Stir balsamic vinegar and honey together in a small saucepan and place over high heat. Bring to a boil, reduce heat to low, and simmer until the vinegar mixture has reduced to 1/3 cup, about 10 minutes. Set the balsamic reduction aside to cool.
Arrange alternate slices of tomato and mozzarella cheese decoratively on a serving platter. Sprinkle with salt and black pepper, spread fresh basil leaves over the salad, and drizzle with olive oil and the balsamic reduction.