Tennessee Housing Market

Name: Tennessee Housing Market Data
Creator: Redfin

Cold Market

Housing market data and trends for Tennessee. Track median prices, inventory, days on market, and competition metrics for real estate investors.

Data period: March 2026

Median Sale Price

$393K

↑ 1.7% YoY

Days on Market

86 days

↑ 24.6% YoY

Active Inventory

34,150

↑ 8.2% YoY

Homes Sold

7,173

↓ 0.7% YoY

Cold Market

Inventory is high and homes are sitting longer — a buyer's market.

Tennessee Market Summary

The Tennessee housing market is cooling down. As of March 2026, the median home sale price is $393K, up 1.7% year-over-year. Homes are spending a median of 86 days on the market, 24.6% longer than a year ago.

There are 34,150 homes for sale — 8.2% more than last year. With 4.8 months of supply, this is a balanced market. 12,259 new listings were added during this period, up 5.6% year-over-year.

Homes are selling for 97.4% of their list price on average, suggesting room for negotiation. 13.7% of homes sell above their asking price. 24.6% of listings have had a price drop.

Market Opportunity Score

Based on current market conditions

Contributing Factors

Months of Supply↑ 4.8

Days on Market↑ 86

Price Drops↑ 24.6%

Sale-to-List Ratio– 97.4%

Market Temperature↑ Cold

How This Market Compares

vs. National Median

Median Price (National: $437K)↓ 9.9%

Days on Market (National: 55)↑ 56.4%

Inventory (National: 1,314,690)↓ 97.4%

Investor Takeaway

The cooling market may present buying opportunities with less competition and more negotiating leverage. A significant share of sellers are cutting prices, which can signal motivated sellers and potential deals.

Tennessee Market Trends

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Detailed Market Metrics

Median List Price

$425K

Price per Sq Ft

$210

Sale-to-List Ratio

97.4%

Months of Supply

4.8

Sold Above List

13.7%

Price Drops

24.6%

New Listings

12,259

↑ 5.6% YoY

Pending Sales

9,914

Metro Areas in Tennessee

Nashville, TN metro area

$465K median