Tennessee Real Estate Market in 2021: Forecasts + Trends

Clever Real Estate


Clever Real Estate

October 1st, 2021
Updated October 1st, 2021


Tennessee real estate trends

Real estate trends in Tennessee | Sellers | Buyers | Investors | The best and worst of Tennessee | Tennessee resources

Tennessee real estate trends (October 2021)

How is the real estate market in Tennessee?
🏠 Average home value: $236,323
📈 2.03% home value increase month over month
💰 Median sale price: $317,000
⏳ 40 days on the market
🔑 Homes on the market: 11,192
📆 0.8 months of housing inventory
🏦 30-year mortgage rate: 3.03%
💵 Average income: 58275
State of the market: A
Listing prices are more than 50% higher than home values here in Tennessee, suggesting that sellers are extremely optimistic about the market’s future. Low inventory makes this an even sweeter seller’s market.
*Data last updated October 2021

From the state capital in Nashville to front porches in quiet towns, Tennessee is famous for its storied tradition of country music and honky-tonk — perhaps helping to explain why the state has attracted an impressive flood of new residents in recent years.

Among its many famous residents, musician Dolly Parton lives up to Tennessee's nickname — the Volunteer State — by pouring her resources into everything children's literacy and education to social justice.

Tennessee's geography provides a dramatic backdrop for its many working artists and musicians, from the Appalachian peaks to deep, tree-lined valleys.

If you're thinking of buying or selling in Tennessee, these Tennessee housing predictions and stats can help you make an informed decision.

Want to save money when you buy or sell your home? With Clever, you'll only pay 1% or $3K in listing fees. Eligible buyers get 0.5% cash back after closing. Find out how much you can save with Clever today!

Selling a home in Tennessee

Tennessee real estate market forecast for sellers
⏰ Homes are selling 4.5 days faster than the annual average
💰 Homes are selling for $10,324 more than the annual average
💸 Average listing commission: 2.80%
💸 Average buyer's commission: 2.77%

How to sell a home in Tennessee

Cost to sell a home in Tennessee

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Buying a home in Tennessee

How much home you can buy with $300,000 in...
🏠 Nashville: 1,359 sq ft
🏡 Kingsport: 2,287 sq ft
🏡 Knoxville: 1,766 sq ft
🏠 Chattanooga: 1,878 sq ft

Investing in Tennessee real estate

Best of Tennessee

Each month, we compare cities in Tennessee based on different criteria. This month, we're looking at affordability and ranking the best cities in the state.

Most Affordable Cities in Tennessee
1. Cleveland
2. Jackson
3. Morristown
4. Greeneville
5. Kingsport-Bristol

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Worst of Tennessee

Each month, we compare cities in Tennessee based on a different criteria. This month we're looking at affordability data. These are the cities that ranked the worst in the state.

Least Affordable Cities in Tennessee
1. Nashville-Davidson--Murfreesboro--Franklin
2. Sevierville
3. Cookeville
4. Clarksville

Tennessee resources

👋 Next Steps: Talk to an expert!

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Clever's analysis of state market trends is based on local data from Zillow, realtor.com, Redfin, S&P Global, the U.S. Census, and Clever surveys. Our team of over 20 real estate analysts from across the country research local markets and data to compile our "Best" and "Worst" rankings.

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