Markets › Tennessee
Tennessee housing market
In the Volunteer State, part of the Census Bureau's East South Central division, Pecan Street tracks 10 markets. Median sale prices run from $254K in Jackson to $477K in Nashville over Jul–Sep 2026. Five of 10 are higher than a year earlier, four are lower and one is unchanged; Knoxville leads at +3.2% and Cleveland trails at -3.1%.
Homes sit longest in Memphis (73 median days on market) and sell fastest in Knoxville (62 days). The share of active listings with a price cut runs from 29% in Clarksville to 45% in Knoxville. Price-to-rent ratios run from about 12 in Jackson to 20 in Morristown, measured as years of HUD Fair Market Rent per median sale price. Among the 383 U.S. metros Pecan Street tracks, the Cleveland metro has the 23rd-slowest year-over-year price growth. Tennessee's unemployment rate was 3.4% in Sep 2026 (BLS via FRED), below the national rate of 4.2%.
Markets at a glance
| Market | Median sale price | YoY | Days on market | Price-cut share | Price-to-rent |
|---|---|---|---|---|---|
| Chattanooga | $366K | +2.5% | 68 | 39% | ≈ 18 |
| Clarksville | $317K | 0.0% | 71 | 29% | ≈ 15 |
| Cleveland | $323K | -3.1% | 72 | 42% | ≈ 17 |
| Jackson | $254K | +1.2% | 73 | 32% | ≈ 12 |
| Johnson City | $317K | -0.9% | 67 | 43% | ≈ 18 |
| Kingsport | $278K | +2.3% | 66 | 38% | ≈ 17 |
| Knoxville | $406K | +3.2% | 62 | 45% | ≈ 18 |
| Memphis | $289K | -1.8% | 73 | 35% | ≈ 14 |
| Morristown | $345K | -0.7% | 66 | 41% | ≈ 20 |
| Nashville | $477K | +1.5% | 63 | 34% | ≈ 17 |
Median sale price and year-over-year change from Redfin (rolling three months); median days on market and the share of active listings with a price cut from Realtor.com; price-to-rent is each market page's figure (its median sale price over a year of HUD Fair Market Rent). Figures are per metro market, not statewide.
Recent signals
No market signals flagged across this state right now.