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Homes For Sale In Tennessee
Home of the Smokies and the birthplace of many music genres and world-famous stars, Tennessee is a one-of-a-kind place to put down roots in the South. If you're after Tennessee real estate, the absence of income tax and low property tax rates are huge draws, but there's more to Volunteer State than financial benefits. There's the live music scene, the locals' kindness, and 57 state and national parks. Whether you want a suburban estate in the countryside or a starter home in an urban hub, the homes for sale in Tennessee will not disappoint.
Tennessee Homes For Sale
The Tennessee real estate market has a dynamic nature and has shown resilience over time. Despite a mild decline in housing supply, the market maintains its balance between buyers and sellers. However, the competitive nature of Tennessee's market is still evident in a decrease in homes sold below the listed price, which indicates a solid competitive landscape.
According to the most recent data from the Tennessee Association of Realtors®, the median sale price of real estate in the state is $282K, but if you're a home buyer looking for single-family homes, you'll have to pay more than that. The median home price in the Volunteer State is $392.8K, an increase of almost 4% compared to the previous year.
Tennessee offers every type of real estate possible across every market segment, but detached homes are the most prevalent type. Tennessee homes for sale are approximately 69% of all the listings out there, and the typical home has three bedrooms (46%) and a construction date between 1970 and 1990 (45%).
The top markets in the state to purchase homes are often the big cities (Nashville, Memphis, Knoxville). Still, some smaller areas, like Franklin, TN, or Johnson City, TN, show promising growth potential and a history of appreciation, which makes them a favorable long-term investment for any homebuyer.
Tennessee City Sampler
Tennessee has over 340 municipalities organized within 95 counties and ten metropolitan areas. Each of those municipalities (called either cities or towns) is divided into several neighborhoods.
As you see, choosing where to live in Tennessee can be challenging due to the overwhelming offer. Consulting a local, experienced real estate agent can significantly benefit you. They can provide expert advice on the best places to settle down in the state based on your needs.
Knoxville
Situated in the foothills of the Appalachian Mountains, on the banks of the Tennessee River, Knoxville offers stunning natural beauty. But it's not just the scenery that draws people in –Knoxville also has a thriving arts scene, some of the best universities in the state, and plenty of job opportunities in industries like technology and healthcare.
Plus, with a relatively low cost of living compared to other major cities in the South, like Charlotte or Atlanta, you'll get more bang for your buck when it comes to housing, dining, and entertainment. If you’re after homes for sale in Tennessee, Knoxville has a typical home value of $327K, below the national average.
Its convenient location in the central-eastern portion of the state, Knoxville makes an ideal home base for exploring other Tennessee cities and destinations in North Carolina and Georgia. If you’re a nature lover, Knoxville has an almost endless supply of outdoor activities. From hiking in the Great Smoky Mountains National Park to kayaking and fishing on the Tennessee River, you'll never run out of things to do if you decide to jump into homeownership here.
- Best Neighborhoods for Homebuyers: Sequoyah Hills, Mechanicsville, Marble City, Fountain City, Rocky Hill, Downtown Knoxville, North Knoxville, South Knoxville, Parkridge, Old City.
Chattanooga
Chattanooga is a charming mid-size city in Tennessee that frequently flies under the radar but has plenty to offer newcomers. Comfortably situated in the southeastern tip of the state, right on the Tennessee-Georgia border, Chattanooga is peppered with sprawling green spaces and bathed by the waters of the Tennessee River.
Its location near the Appalachian Mountains provides this area with stunning natural beauty and a varied offer of outdoor activities, such as climbing, kayaking, hiking, and fishing. In addition, Chattanooga offers a bustling downtown with plenty of trendy places to eat, drink, and wind down after a long day.
If you're ready to relocate to Chattanooga, the real estate market is filled with homes for sale fitting every lifestyle, from modest starters priced under $200K to freshly-built, contemporary-style residences with five bedrooms and five bathrooms prices over $1M. The typical value of homes for sale in Chattanooga is currently $321K. Here, you'll be able to enjoy your home even more since Forbes recently named Chattanooga the best work-from-home city in the country.
- Best Neighborhoods for Homebuyers: Lookout Mountain, Downtown Chattanooga, Hixson, Southside Historic District, Avondale, Fort Wood, Northshore, Brainerd Hills, Hill City, Stuart Heights/Rivermont
Nashville
Urban living in the South has a distinct flavor in Nashville. With its thriving music scene, warm Southern hospitality, finger-licking hot chicken, and sports –the city proudly hosts the Tennessee Titans and the Nashville Predators; it's no wonder why everyone wants to move to "Music City." Looking for a slower-paced lifestyle? You'll find quieter suburbs that are great places to buy homes for sale in Tennessee and still be near all that action.
Nashville also has one of the country's hottest job markets, with industries such as Technology, Automobile Production, Music Production, and Finance leading the economy. After all the hard work, you deserve to play hard as well, and Nashville has something for everyone. From its iconic honky-tonks and bars to its picturesque parks and museums, there's no shortage of things to see and do in this city.
Outdoor enthusiasts will also enjoy the more than 80 miles of greenway trails the city offers, perfect for active weekends outdoors with friends and family.
The Nashville real estate market is hot right now, with a low inventory that has outpaced demand. The median sale price of single-family homes for sale in Nashville is $490K, above the national average.
- Best Neighborhoods for Homebuyers: Downtown Nashville, The Gulch, Germantown, East Nashville, Sylvan Park, Hillsboro-Belmont, West End and Elliston Place, 12 South, Music Row/Edgehill Village
Memphis
Renowned for its delicious BBQ and deep appreciation for music, Memphis is a vibrant metropolis of over 628K residents in the state's southwestern corner. It boasts an array of businesses, flourishing job opportunities, top-notch higher education, and iconic culinary offerings. The city is best known for being the birthplace of Elvis Presley, several music genres, and the home to historic Beale Street.
When considering the homes for sale in Tennessee, Memphis stands out with its affordable real estate prices, attracting out-of-state investors and home purchasers. The median sale price of homes for sale in Memphis is $200K, up 7.6% compared to the previous year.
Whether you're looking for a fixer-upper to make your own or a move-in-ready residence, Memphis offers a variety of options, ranging from cozy bungalows to spacious modern dwellings with four or more bedrooms. Once you settle, explore the city's iconic landmarks, like Graceland, the National Civil Rights Museum, Memphis Zoo, or the Memphis Rock 'n' Soul Museum.
Best Neighborhoods for Homebuyers: Downtown Memphis, Cooper-Young, East Memphis, Harbor Town, Cordova, Midtown, Binghamton, South Main, Crosstown, Whitehaven.
Schools In Tennessee
Parents planning to move to Tennessee with their children will be happy to know that the state offers a wealth of quality schooling options for students of every level. The Volunteer State encompasses 147 school districts enrolling over 1M students across 1,923 public schools.
If you’re searching for Tennessee homes for sale and want to live near a high-performing school district, keep reading for a list of the 10 best school districts in Tennessee:
Best School Districts in Tennessee
- Maryville City Schools - Maryville
- Johnson City Schools - Johnson City
- Williamson County Schools - Williamson
- Kingsport City Schools - Kingsport
- Germantown Municipal School District - Germantown
- Alcoa City Schools - Alcoa
- Oak Ridge School District - Oak Ridge
- Collierville Schools - Collierville
- Greeneville City Schools - Greenville
- Dyersburg City School District - Dyersburg
Private Schools in Tennessee
According to Niche.com, the top 10 private schools in the state of Tennessee are in Nashville, Memphis and Chattanooga. Those are:
- University School of Nashville (K-12) – Nashville
- St Mary’s Episcopal School (PK-12) – Memphis
- Lausanne Collegiate School (PK-12) – Memphis
- Montgomery Bell Academy (7-12) – Nashville
- Harpeth Hall School (5-12) – Nashville
- Memphis University School (7-12) – Memphis
- McCallie School (6-12) – Chattanooga
- Baylor School (6-12) – Chattanooga
- The Ensworth School (K-12) – Nashville
- Hutchinson School (PK-12) – Memphis
Top Colleges & Universities in Tennessee
The website bestcolleges.com ranked Tennessee’s colleges based on their affordability, quality, and campus experience. Here’s their list:
- Vanderbilt University – Nashville
- Sewanee: The University of the South – Sewanee
- Milligan College – Johnson City
- Rhodes College – Memphis
- Tennessee Technological University – Cookeville
- Bryan College – Dayton
- The University of Tennessee-Knoxville – Knoxville
- Middle Tennessee State University – Murfreesboro
- The University of Tennessee – Martin
- Lipscomb University – Nashville
Frequently Asked Questions About Tennessee Homes For Sale
What Are The Zip Codes Of Homes For Sale In Tennessee?
The Tennessee homes for sale are distributed across 796 zip codes. See below a list of the main ones for homebuyers in the main neighborhoods and suburbs of the four largest cities in the state.
Top Cities Neighborhood’s Zip Codes
Nashville
- Downtown Nashville: 37201
- Edgehill / Music Row / The Gulch / West End Circle / Wedgewood: 37203
- 12 South / Belmont / Green Hills / Oak Hill / Edgehill: 37204
- Belle Meade / West End / West Meade: 37205
- East Nashville / Lockeland Springs: 37206
- North Nashville / Dickerson Pike: 37207
- Germantown: 37208
- Charlotte Park / Sylvan Heights / Sylvan Park / The Nations: 37209
- South Nashville / Spence Lane / Woodbine: 37210
- Bradford Hills / Brentioch / Cane Ridge / Crieve Hall: 37211
- Belmont / Hillsboro Village / Music Row / Vanderbilt: 37212
- Airport / Donelson: 37214
- Belle Meade / Forest Hills / Green Hills: 37215
- Inglewood: 37216
- Briley Parkway / Edge-o-Lake / Priest Lake: 37217
- Bordeaux: 37218
- Central Business District / Downtown: 37219
- Crieve Hall / North Brentwood / Oak Hill: 37220
- Bellevue: 37221
Chattanooga
- Ooltewah: 37363
- Downtown Chattanooga: 37402, 37403, 37405, 37408
- Collegedale: 37302
- Signal Mountain: 37377
- Lookout Mountain: 37350
Memphis
- Downtown Memphis: 38103, 38105
- East Memphis: 38117, 38119, 38120
- Midtown/Chickasaw Gardens: 38111, 38112, 38104
- North Memphis/Uptown: 38107
- Frayser: 38127
- Cordova: 38016, 38018
- Hickory Hill: 38115, 38125, 38141
- Jackson/Berclair: 38108, 38122
- Oakhaven/Parkway Village: 38118
- Raleigh/Bartlett: 38128, 38134
- South Memphis: 38106, 38109, 38114, 38126
- Whiteheaven: 38116
Knoxville
- Downtown: 37902
- Kingston: 37763
- Friendsville: 37737
- Greenback: 37742
- Powell: 37849
- Lenoir City: 37772
- Farragut: 37934
- Holston Hills: 37914
What Are The Main Commercial Airports In Tennessee?
Tennessee is home to several major airports that connect the state to the rest of the country and the world. The following main airports serve the homes for sale in Tennessee:
- Nashville International Airport (BNA) – Nashville
- Memphis International Airport (MEM) – Memphis
- McGhee Tyson Airport (TYS) – Alcoa
- Chattanooga Metropolitan Airport (CHA) – Chattanooga
- Tri-Cities Regional Airport (TRI) – Kingsport, Bristol, Johnson City
- McKellar–Sipes Regional Airport (MKL) – Jackson
Is Tennessee A Good State To Buy A House?
Tennessee is a great place to buy a house, especially for homebuyers looking to get more bang for their buck. Forbes included the state in its list of the “10 Cheapest States To Live In For 2023,” occupying the 6th position, and the median sale price of homes for sale in Tennessee is currently $282K. Tennessee is also famous for its low cost of living. The cost of living index in the state is 89.9, considerably lower than the national average of 100.
Why Are People Buying Houses In Tennessee?
The main reason why people are buying houses in Tennessee is probably affordability. The homes for sale in Tennessee have a typical value of $282K and the overall cost of living in the state is over 10% below the national average. In sum, buying houses in Tennessee is a good idea if you want to relocate to a state that won’t hurt the budget.
In addition to affordability, home hunters fall in love with Tennessee’s charming small town, music-centric cultural scene, breathtaking mountain ranges, and vibrant big cities.
What is the average salary to live comfortably in Tennessee?
When it comes to living comfortably in Tennessee, the average salary plays a big role. The cost of living varies by region and city, but for the state, it's been reported that an annual household income between $50K and $60K is needed to live comfortably. According to the U.S. Census Bureau, the median household income in Tennessee is $58,516.
Of course, this number can fluctuate depending on individual factors such as family size, housing choices, and spending habits. It's also worth noting that salaries and job opportunities can vary greatly between different industries and cities throughout the state.
Is It Better To Buy A House In Tennessee Or Kentucky?
As far as comparing Tennessee and Kentucky goes, there are several factors to consider when deciding where to buy a house. These states are next to each other, both offering a unique blend of Southern culture, natural scenery, modern amenities, and friendly communities.
Kentucky and Tennessee are also approximately the same size, making either a great living choice. However, there are some notable differences worth exploring. See some of them below:
- Taxes: Tennessee boasts the advantage of no state income tax, although it compensates with relatively higher sales tax and property tax rates. The sales tax in Kentucky is a consistent 6%, while the income tax stands at 5%.
- Median Household Income: According to recent data from the US Census Bureau, Tennessee’s median household income is $58,516. The median household income in Kentucky is $55,629. Both below the U.S. median household income of $69K.
- Cost of Living Index: The cost of living index in Tennessee is 87.2. Kentucky’s cost of living index is 82.3. They are 12.8% and 17.7% below the national average, respectively.
- Homes for Sale: The median price of single-family homes in Tennessee is $392.9K, while Kentucky homes sell for a median price of 266.8K.
- Retirement Benefits: Tennessee offers retirees all the benefits of a no-income-tax state. Kentucky is a state of affordable retirement homes, both to buy and rent. The costs of utilities, transportation, and groceries are also below the national average.
Is Tennessee A Good Place To Retire?
Tennessee's enticing combination of affordable living expenses and favorable tax environment make it a magnet for homebuyers looking to downsize in retirement and spend their golden years in a relaxed setting that provides financial ease and comfort. Aside from affordability, Tennessee offers breathtaking natural beauty and an abundance of recreational activities.
Cities like Knoxville and Chattanooga offer a mix of urban amenities –including excellent healthcare options and senior centers, and natural landscapes, while smaller towns like Franklin and Murfreesboro provide a tranquil ambiance for those seeking a quieter lifestyle.
Things To Do In Tennessee
- The Great Smoky Mountains National Park: 'The Smokies' is America's most visited national park, encompassing over 500,000 acres. The park provides almost limitless opportunities for outdoor exploration with over 800 miles of hiking trails, undisturbed wildlife habitats, camp areas, and much more,
- Elvis Presley’s Graceland: Elvis Presley's 13.8-acre estate in Memphis, Graceland, is a pilgrimage for any true fan of the American artist and an obliged visit to Tennessee. The mansion is open to the public as a house museum, and it's also the last resting place of the King of Rock' n' Roll.
- Tennessee Aquarium: Located in Chattanooga, the Tennessee Aquarium is a waterfront complex home to over 12,000 animals representing 800 marine species. The aquarium is divided into two structures, the River Journey and the Ocean Journey, each encompassing several different exhibits.
- Dollywood: This 150-acre themed park is in Pigeon Forge, in the heart of the Smokies, and boasts thrill rides, fair-style local food, and access to sister water park Dollywood's Splash Country. Dollywood also features concerts and musical performances yearly.
- Country Music Hall of Fame and Museum: As soon as you step through the doors of the Country Music Hall of Fame and Museum, in Nashville, TN, you are transported to another world. With a collection of 500 musical instruments, 1,900 stage wear items and accessories, and thousands of artifacts in their collection, the museum celebrates the rich history of country music and its impact on American culture.
- Titanic Museum: This museum in Pigeon Forge, TN, has a half-scale replica of the original ship. It also features over 400 pre-discovery artifacts across 20 galleries. This is considered the largest Titanic museum in the world.
- Ruby Falls: Deep beneath the lush green hills of Tennessee lies this hidden wonder. Ruby Falls is a stunning underground waterfall that stretches nearly 145 feet underground. This historic landmark, part of the larger Lookout Mountain Caverns, in Chattanooga opens daily for visitors.
- Beale Street: Beale Street, a historic district in Memphis, is a cultural hub for music lovers and history enthusiasts alike. It is known as the birthplace of blues music. Visitors can explore vibrant street art, sample delicious Southern cuisine, and experience live music at iconic venues like B. B. King's Blues Club, Club 152, or Memphis Music.
Living In Tennessee
Tennessee Cost Of Living
With no state income tax, lower housing costs than many cities across the United States, and a range of job opportunities, Tennessee can be a great option for those looking to save money while still enjoying a high quality of life. According to the U.S. Census Bureau, the median household income in the state is $58,516.
The cost of living index in Tennessee is 89.9, which's 10.1% under the national average of 100. Groceries, utilities, housing, and transportation are affordable expenses in the state. Healthcare in Tennessee has an index of 100.4, which makes it slightly more costly than the national average.
Weather In Tennessee
Tennessee experiences a predominantly humid-subtropical climate, except for the higher Appalachian elevations, with a cooler mountain temperate or humid continental climate. The state's climate is primarily influenced by the Gulf of Mexico, with southerly winds delivering most of its annual rainfall.
The state generally experiences hot summers and mild to cool winters, with ample yearly precipitation. During summer, temperatures soar and humidity levels rise, creating a hot and muggy environment. The average high temperature across most of the state hovers around 90°F.
During winter, the weather tends to be mild to cool, with temperatures decreasing as you go up in elevation. In regions outside the tallest mountains, the average overnight lows typically hover around the freezing point.
Between December and April, the homes for sale in Tennessee see the highest average monthly rainfall. On average, the driest months span from August to October. Annually, the state receives an average precipitation of 50 inches. Snowfall varies from five inches in West Tennessee to 80 inches in the highest mountains of East Tennessee.
Healthcare In Tennessee
From well-established hospitals to community clinics, Tennessee offers a broad spectrum of healthcare services that cater to the diverse needs of its residents and potential residents. U.S. News & World Report ranked the best hospitals in Tennessee after evaluating 136 facilities. Here are the top hospitals near the homes for sale in Tennessee:
- Vanderbilt University Medical Center - Nashville
- Methodist Hospitals of Memphis - Memphis
- CHI Memorial Hospital - Chattanooga
- Baptist Memorial Hospital - Memphis
- Ascension Saint Thomas Hospital - Nashville
Job Market In Tennessee
Tennessee boasts a robust economy with a workforce of 2.96 million people, supported by an impressively low unemployment rate of just 3.3%. While average wages in Tennessee may be lower compared to other regions, the relatively lower cost of living helps mitigate this disparity. Tennessee boasts several thriving industries, including:
- Healthcare
- Manufacturing
- Educational Services
- Administrative and waste management services
- Transportation and warehousing
- Restaurants & food services
Tennessee's major cities are home to a multitude of prominent companies that provide the bulk of job opportunities in the state.
In the heart of Tennessee, you'll find a thriving healthcare landscape with industry giants like Hospital Corporation of America (HCA), Community Healthcare Systems, Vanderbilt, and Saint Thomas calling it home. This region boasts a rich tapestry of healthcare excellence, attracting professionals and patients alike.
The Nashville Metro area also boasts a number of prominent corporations, such as Nissan, Vanderbilt University, Asurion, and Amazon. Moreover, significant employment opportunities are also offered by FedEx in Memphis and Oak Ridge Laboratory in Knoxville. This diverse landscape presents ample prospects for career growth and development for potential buyers of homes for sale in Tennessee.
Transportation In Tennessee
Tennessee is a state that has a multitude of transportation options available. The Tennessee Department of Transportation (TDOT) oversees and upkeeps all the transportation infrastructure in the state.
For car owners, Tennessee has 96K of roads, from the bustling freeways in Nashville and Memphis to the rural roadways near the Smoky Mountains. The main highways serving Tennesseans include:
- Interstate 40 (I-40) that runs through the state for 445 miles.
- I-240 in Memphis
- I-440 in Nashville
- I-140 from Knoxville to Maryville
- I-640 in Knoxville.
- 75 serving Chattanooga and Knoxville
- 81 serving eastern Knoxville and northeast Bristol
For buyers of homes for sale in Tennessee who want to go car-free, Volunteer State offers a robust public transportation network, including bus and rail services. Passenger rail services include:
- Nashville: Music City Star commuter rail service.
- Memphis and Newbern: Amtrak New Orleans Line that runs between NOLA and Chicago.
Airports and Waterways
Tennessee boasts 976 miles of navigable waterways, including the Mississippi, Tennessee, and Cumberland rivers. Moreover, it is home to five strategically located inland ports, including the renowned Port of Memphis.
Tennessee is home to several major airports, catering to different regions. These include Nashville International Airport (BNA), Memphis International Airport (MEM), McGhee Tyson Airport (TYS) near Knoxville, Chattanooga Metropolitan Airport (CHA), Tri-Cities Regional Airport (TRI) in Blountville, and McKellar-Sipes Regional Airport (MKL) in Jackson.