Markets › Tennessee
Tennessee housing market
In the Volunteer State, part of the Census Bureau's East South Central division, Pecan Street tracks four markets. Median sale prices run from $198K in Memphis to $479K in Nashville as of Aug 2026. All four are higher than a year earlier, led by Chattanooga (+4.2%).
Homes sit longest in Memphis (72 median days on market) and sell fastest in Knoxville (60 days). The share of active listings with a price cut runs from 38% in Nashville to 47% in Knoxville. Price-to-rent ratios run from about 10 in Memphis to 18 in Chattanooga, measured as years of HUD Fair Market Rent per median sale price. Tennessee's unemployment rate was 3.4% in Aug 2026 (BLS via FRED). The national rate was 4.2% in Sep 2026.
Markets at a glance
| Market | Median sale price | YoY | Days on market | Price-cut share | Price-to-rent |
|---|---|---|---|---|---|
| Chattanooga | $363K | +4.2% | 67 | 42% | ≈ 18 |
| Knoxville | $325K | +0.9% | 60 | 47% | ≈ 15 |
| Memphis | $198K | +1.5% | 72 | 39% | ≈ 10 |
| Nashville | $479K | +0.2% | 62 | 38% | ≈ 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.