Tennessee Real Estate: Growth Is Creating New Opportunities
Tennessee remains one of the most closely watched real estate markets in the South, but the story is no longer simply about rapidly rising prices. In 2026, buyers generally have more homes to compare, listings are taking longer to sell in some areas, and sellers must be more deliberate about pricing, presentation and marketing.
Nationally, the median existing-home price reached $440,600 in June, while sales declined from the previous month. Tennessee’s relative affordability, employment growth and absence of a state tax on earned income continue to make it attractive to households leaving more expensive markets. (Reuters)
Where Tennessee is growing most
Much of the strongest population and housing demand remains concentrated in Middle Tennessee. Davidson County added approximately 9,300 residents in 2025, the largest numerical increase among Tennessee counties. Growth also extended into Montgomery, Maury and other suburban and exurban counties as households searched for newer homes, additional land and lower prices outside central Nashville. (Axios)
Communities surrounding Nashville—including Lebanon, Murfreesboro, Spring Hill, Clarksville, Franklin and areas of Wilson, Rutherford, Williamson and Maury counties—continue to benefit from this outward movement. Lebanon’s population, for example, grew by approximately 32% between 2020 and 2024. (Business Insider)
East Tennessee also remains appealing because of Knoxville’s employment base, access to the Smoky Mountains and comparatively manageable cost of living. In West Tennessee, Memphis offers a different opportunity: buyers can often obtain substantially more house for their money than in Nashville or many national metropolitan markets.
Companies are bringing jobs—and people
Corporate investment is helping sustain Tennessee’s housing demand.
Starbucks announced a $100 million Nashville corporate office expected to employ as many as 2,000 people over five years, including new hires and some employees relocating from Seattle. (AP News)
Oracle has also identified Nashville as its future headquarters location while developing a major campus tied closely to the region’s healthcare and technology industries. Nashville already contains a large concentration of healthcare companies, which gives employers access to experienced workers and creates continued relocation demand. (MarketWatch)
In-N-Out is establishing its eastern regional presence in Franklin, bringing company operations and some employees from California while preparing for broader expansion. (The Guardian)
These announcements do more than create office space. They bring employees, vendors, contractors and supporting businesses that eventually need housing.
How Tennessee compares
Tennessee’s growth contrasts with slower-growth legacy markets such as Pittsburgh, where affordability remains strong partly because population and housing demand have grown more gradually. Pittsburgh added fewer than 5,000 residents between 2020 and 2024, while several Tennessee communities experienced much faster percentage growth. (The Washington Post)
Tennessee is not immune to affordability pressures or changing market conditions. Nashville has become more balanced, with increasing inventory, longer listing periods and greater negotiating power for buyers. That can be healthy: slower price acceleration may give wages and household budgets time to catch up. (Axios)
The important point is that Tennessee is not one single market. Nashville, Memphis, Knoxville, Chattanooga, Clarksville and their surrounding communities each have different prices, inventory levels, growth drivers and opportunities.
Whether you are considering buying, selling, relocating or investing, broad headlines are not enough. Reach out to me for a current, neighborhood-specific market review and honest guidance about what the numbers mean for your property and your plans.
Amber Macknally, Tennessee REALTOR®
Crye-Leike, REALTORS® — Southaven
Memphississippi™
Real estate statistics and corporate plans can change. Information should be verified at the time of any real estate decision.