Tennessee

Home prices in Tennessee and Nashville: median value and trend

Median owner-occupied home value: $332,600 in Tennessee and $438,800 in Nashville (Census ACS 2024). FHFA: Tennessee prices up 0.9% in a year.

Checked on against the official sources listed at the bottom of the page.

In short

The median value of owner-occupied homes is $332,600 in Tennessee and $438,800 in the city of Nashville, against $360,600 nationwide (Census ACS 2024). On the FHFA index, Tennessee prices up 0.9% and Nashville-area prices down 0.2% from Q2 2025 to Q2 2026.

What it costs: median value in 2024

AreaMedian value, 2024Margin of error (90%)
United States$360,600±$618
Tennessee$332,600±$2,448
Nashville–Davidson–Murfreesboro–Franklin metro area$449,300±$5,578
Davidson County$442,700±$10,725
Nashville-Davidson metropolitan government (balance)$438,800±$10,667

Source: Census ACS 2024, table B25077; owners’ own estimates, not sale prices.

Three points stand out:

  • The Tennessee median is $28,000 below the national median.
  • The city of Nashville sits $106,200 above the Tennessee median and $78,200 above the national median. It is $10,500 below the metro-area median.
  • The margin of error for the city (±$10,667) is much wider than for the state, because the sample is smaller. The true city median is very likely between about $428,100 and $449,500.

How prices have moved: the FHFA index

Area1-year change (Q2 2025 to Q2 2026)5-year change (Q2 2021 to Q2 2026)
United States+2.1%+33.4%
Tennessee+0.9%+38.5%
Nashville–Davidson–Murfreesboro–Franklin metro area−0.2%+34.0%

Source: FHFA HPI, purchase-only, Q2 2026 (release of August 25, 2026); changes by Payotte.

Tennessee prices were nearly flat over the past year, while the national index rose 2.1%. The Nashville area dipped slightly. Over five years, Tennessee gained more than the nation (38.5% against 33.4%) and the Nashville area about the same (34.0%).

A worked example

Take a Nashville-area home worth $440,000 in the second quarter of 2021. Tracking the metro index exactly, it would have been worth about $589,000 in the second quarter of 2026 (+34.0%). Over the last year alone, it would have lost about $1,300 (−0.2%). A single home can differ widely from the index.

How to use these figures when buying

Closing costs come on top: our Tennessee closing costs guide covers who pays what, and buying a home in Nashville applies these numbers to the city, including property tax. First-time buyers can also check the Tennessee first-time buyer programs.

Method and dataset

ACS median value. ACS 1-Year 2024, table B25077. Geographies: United States (0100000US), Tennessee (0400000US47), Nashville-Davidson—Murfreesboro—Franklin, TN metro area (310M700US34980), Davidson County (0500000US47037), Nashville-Davidson metropolitan government (balance) (1600000US4752006). Read through the data.census.gov API on October 13, 2026. The definition of value comes from the ACS 2024 Subject Definitions.

FHFA index. FHFA HPI (purchase-only, seasonally adjusted), state series (Tennessee), metro series (Nashville-Davidson—Murfreesboro—Franklin, TN, CBSA 34980) and U.S. series. Index values used: Tennessee 475.22 (Q2 2025), 346.27 (Q2 2021) and 479.40 (Q2 2026); Nashville metro 592.36, 441.20 and 591.07; United States 426.58, 326.58 and 435.69.

Frequently asked questions

What is the median home value in Tennessee?

Tennessee’s 2024 ACS median home value is $332,600 (±$2,448), against $360,600 for the nation: owners’ own estimates, not sale prices.

What is the median home value in Nashville?

For the city of Nashville (Nashville-Davidson metropolitan government, balance), the 2024 ACS median value is $438,800 (±$10,667). Davidson County is at $442,700 and the Nashville–Davidson–Murfreesboro–Franklin metro area at $449,300.

Are Tennessee home prices going up or down?

FHFA’s purchase-only index shows Tennessee prices rose 0.9% over the year to Q2 2026, and the Nashville metro area fell 0.2%. Over five years, they rose 38.5% and 34.0%.

How Tennessee compares with the other States

Tennessee ranks 28th of 50 for median home value ($332,600), 8% below the national $360,600.

The States closest in median value are North Carolina ($333,000) and Wyoming ($339,500). The range runs from $170,800 in West Virginia to $875,900 in Hawaii; Tennessee is $6,900 below the middle of that ranking (Wyoming).

On the FHFA index, Tennessee prices rose 0.9% over the year to the second quarter of 2026, which places the State 41st of 50, 1.2 points behind the national +2.1%. Over five years the gain is +38.5% (19th of 50; nation +33.4%).

Tennessee sits in the middle of the pack on at least one of the two measures: 28th for the level, 41st for the one-year change.

Over five years, Tennessee's +38.5% annualises to +6.7% a year (nation +5.9%). The latest year (+0.9%) is 5.8 points under that average, a slower pace than the five-year average.

Nashville, the main city, has a median of $438,800, 18th of the 49 main cities Payotte covers. That is 32% above the Tennessee median, a premium that ranks 10th of 49.

The one-year FHFA change runs from -1.2% in New Mexico to +8.3% in Alaska. Tennessee (+0.9%) is 7.4 points below the top and 2.1 above the bottom; Florida (+1%) and Maryland (+1%) are the nearest to it.

For scale, 20% of the Tennessee median is $66,520, against $72,120 at the national median.

Compare with the other states: Median home price by state.

More Tennessee guides

Sources

Tennessee · All states · Federal guides