Tennessee Real Estate Market in 2022: Forecasts + Trends

Clever Real Estate

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Clever Real Estate

May 1st, 2022
Updated May 1st, 2022

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Tennessee real estate trends

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

Tennessee real estate trends (May 2022)

How is the real estate market in Tennessee?
🏠 Average home value: $289,053
📈 1.97% home value increase month over month
💰 Median sale price: $363,500
⏳ 36 days on the market
🔑 Homes on the market: 7,200
📆 0.6 months of housing inventory
🏦 30-year mortgage rate: 3.03%
💵 Average income: $58,275
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 May 2022

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 5 days faster than the annual average
💰 Homes are selling for $21,175 more than the annual average
💸 Average listing commission: 2.80%
💸 Average buyer's commission: 2.80%

How to sell a home in Tennessee

Cost to sell a home in Tennessee

💰 Save thousands on realtor fees with Clever

List with the best agents in your area for just $3,000 or 1%. On average, Clever sellers save $9,000 on commission!

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Buying a home in Tennessee

How much home you can buy with $300,000 in...
🏠 Nashville: 1,210 sq ft
🏡 Kingsport: 2,041 sq ft
🏡 Knoxville: 1,587 sq ft
🏠 Chattanooga: 1,685 sq ft

Investing in Tennessee real estate

Best of Tennessee

💡 Did you know…

Nashville, Tennessee was ranked the #1 music city in the U.S. in 2022?

Although Nashville is best known for its country music scene, Nashville was named the most popular city in the U.S. for heavy metal and the second most popular for all other major music genres.

» Taking notes? 🎵 Learn more about the rankings here: The Best Music Cities in the U.S.

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

Ready to buy a home in Tennessee? Eligible buyers get cash back with Clever!

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!

If you're weighing your options for buying or selling a house, Clever can help!

Our fully-licensed concierge team is standing by to answer questions and provide free, objective advice on getting the best outcome with your sale or purchase.

Ready to get started?

Give us a call at 1-833-2-CLEVER or enter your info below. Our concierge team will be in touch shortly to help.

Remember, this service is 100% free and there’s never any obligation.

Frequently asked questions about Tennessee real estate

Investing in Tennessee real estate is a good idea, especially in Nashville and Memphis, where demand for housing is always high. However, for your investment to pay off, you need to plan out your finances and determine which types of properties are profitable in your area. Check out our guide to investing in real estate to learn more.

It might not be a good time to buy a house in Tennessee right now. Listing prices are higher than normal, and there aren’t a lot of properties on the market to choose from. If you really need to buy, then work with a real estate agent to help you find the perfect property for your budget.

Methodology

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.

Better real estate agents at a better rate

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