Home Value Trail

States › Tennessee

State

Tennessee

93 counties with an index · 27 metro and micro areas · 411 ZIP codes · 177 permit-issuing places · 7,315,076 residents (2025 est.)

FHFA quarterly index through 2026 Q2Annual index 1975–2025Permits through August 2026
FHFA all-transactions house price index for Tennessee, quarterly from 1975 to 2026 Q2, with the national index rebased to the same start and NBER recessions shadedRecession 1973–75Recession 1980Recession 1981–82Recession 1990–91Recession 2001Recession 2007–09Recession 202002004006008001,00019801990200020102020United States2026: 705
Tennessee (100 = first year)United States, rebased to the same startNBER recession

FHFA notes: The FHFA HPI is a broad measure of the movement of single-family house prices. The FHFA HPI is a weighted, repeat-sales index, meaning that it measures average price changes in repeat sales or refinancings on the same properties. The line is FHFA's standard quarterly all-transactions index; the comparison table uses FHFA's annual state index from the same family. The index does not give a dollar value for any home.

Tennessee's FHFA house price index starts in 1975. Through 2025 it has risen +777.1%; over the ten years to 2025 the rise was +113.5% (+7.9% a year), well above the national +85.0%.

The quarterly index through 2026 Q2 is +2.6% on a year earlier and +0.5% on the quarter; nationally +3.0% and +1.1%.

The index peaked in 2008, fell −9.2% to 2012 and regained the peak in 2015; the national index fell −21.3% over 2007–2012.

41,556 housing units were authorised in Tennessee in the 12 months to August 2026, 5.7 per 1,000 residents against 4.1 nationally; that is −4.5% on the previous 12 months. 93 counties, 27 metro and micro areas, 411 ZIP codes and 177 permit-issuing places in the state have their own pages.

+2.6%year to 2026 Q2, quarterly indexUS +3.0%
+2.4%1 year, 2024–2025US +2.8%
+59.5%5 yearsUS +47.0%
+113.5%10 years+7.9% a year annualised
+186.3%since 2000US +158.3%
41,556units permitted, 12 months5.7 per 1,000 residents · US 4.1

Same span, state and nation

Change in the FHFA indexTennesseeUnited States
1 year (2024–2025)+2.4%+2.8%
5 years (2020–2025)+59.5%+47.0%
10 years (2015–2025)+113.5%+85.0%
20 years (2005–2025)+139.6%+79.1%
Since 2000+186.3%+158.3%
Since 1975+777.1%+960.7%
10-year annualised+7.9%+6.3%
20-year annualised+4.5%+3.0%

Decade by decade

DecadeChangeUnited States
1980s (1980–1990)+45.6%+68.2%
1990s (1990–2000)+43.1%+33.9%
2000s (2000–2010)+25.9%+29.7%
2010s (2010–2020)+42.6%+35.5%
2020s so far (2020–2025)+59.5%+47.0%

FHFA reports each index with a value of 100 in its base period, the first year the area has enough transactions (1975 here). A decade's change is the index at the end of the decade divided by the index at the start, so it does not depend on the base year; the United States column covers the same years. Decades before 1975 are not shown.

Peak-to-low declines

PeakLowDeclinePeak regained
20082012−9.2%2015

Purchase-only index

FHFA also publishes a purchase-only index, built from sales prices alone (no refinance appraisals). It starts in 1991 and is drawn here on its own base.

FHFA purchase-only house price index for Tennessee, quarterly, with the national purchase-only index rebased to the same startRecession 1990–91Recession 2001Recession 2007–09Recession 202001002003004005001995200020052010201520202025United States, purchase-only2026: 485
Tennessee, purchase-only (100 = first year)United States, purchase-only, rebased to the same startNBER recession

Counties

Ranked by ten-year change in FHFA's annual county index to 2025. Permits are housing units authorised in the 12 months to August 2026.

County1 year10 yearsSince 2000Units, 12 monthsPer 1,000Index through
Marshall County+5.6%+160.5%+251.9%38510.12025
Sevier County+4.8%+156.9%+214.2%1,33613.22025
Maury County+4.2%+152.5%+247.0%1,43812.22025
Houston County+8.1%+150.8%—10.12025
Trousdale County+1.9%+149.5%+212.3%1139.02025
Cannon County+8.9%+148.1%+231.5%754.92025
Smith County+6.1%+147.6%+209.9%1467.02025
Van Buren County−0.1%+142.7%—50.72025
Bedford County+2.8%+141.7%+241.7%3947.12025
Warren County+7.5%+141.6%+210.0%2986.82025
Perry County—+141.4%—121.32025
Macon County+6.2%+139.9%+218.1%1726.22025
DeKalb County+3.1%+139.8%+224.6%1526.92025
White County+2.5%+138.8%+206.9%1876.32025
Hickman County+3.1%+136.6%+218.4%1174.52025
Union County+7.0%+135.5%+244.0%1205.62025
Humphreys County+7.8%+134.9%+224.7%422.12025
Knox County+2.9%+132.9%+236.8%5,17910.12025
Franklin County+5.4%+132.8%+220.1%3938.62025
Coffee County+3.5%+132.4%+218.0%4667.52025
Jefferson County+4.0%+131.7%+205.3%3215.32025
Moore County+12.0%+131.7%—304.32025
Rutherford County0.0%+131.2%+221.2%3,4909.02025
Anderson County+3.4%+130.8%+211.9%4265.22025
Overton County+7.5%+130.6%+217.7%170.72025
Jackson County+12.3%+130.0%+218.2%00.02025
Monroe County+3.3%+129.9%+209.6%2054.12025
Williamson County+2.8%+128.3%+266.9%1,7926.62025
Lewis County0.0%+128.1%+210.3%322.42025
Loudon County+1.6%+128.1%+220.6%4647.32025
Roane County+7.8%+127.9%+205.3%3446.02025
Lawrence County+3.5%+127.0%+214.8%240.52025
Dickson County+1.7%+126.0%+201.3%4577.82025
Giles County+3.7%+125.9%+216.5%832.62025
Clay County+17.3%+125.1%—283.62023
Blount County+0.1%+124.7%+210.0%1,0667.42025
Sumner County+1.8%+124.7%+214.8%1,4076.52025
Rhea County+6.6%+124.3%+214.8%1564.52025
Chester County+12.3%+123.9%+167.8%181.02025
Morgan County+16.4%+123.1%+260.0%00.02025
Campbell County−0.5%+122.4%+200.5%1373.42025
Lincoln County+7.4%+121.7%+203.5%1814.92025
Marion County+6.3%+121.7%+193.7%2498.42025
Cheatham County−0.1%+121.4%+199.9%2004.72025
Bledsoe County+4.1%+121.3%—00.02025
Robertson County+2.1%+121.3%+198.1%86710.82025
McMinn County+5.5%+121.0%+202.2%891.62025
Cumberland County+6.0%+120.4%+185.7%1141.72025
Hamblen County+1.7%+119.0%+171.5%4055.92025
Scott County+2.7%+118.6%—40.22025
Wilson County+2.0%+118.2%+207.5%1,7159.82025
Unicoi County+5.4%+117.2%+212.5%251.42025
Fentress County+4.0%+117.0%+187.9%70.32025
Hamilton County+1.8%+116.5%+204.9%2,0215.22025
Putnam County+2.9%+116.3%+183.1%7308.42025
Greene County+5.3%+116.0%+183.4%2693.62025
Davidson County+1.0%+115.7%+264.0%4,9826.72025
Carter County+3.7%+115.1%+200.4%1763.12025
Cocke County+2.8%+115.1%+154.8%50.12025
Benton County+5.1%+113.8%+159.2%20.12025
Grundy County+2.8%+111.5%—161.12025
Henderson County+9.5%+111.3%+157.4%270.92025
Bradley County+3.7%+110.2%+181.4%6745.82025
Hawkins County+3.8%+109.5%+188.5%1462.52025
Meigs County+8.0%+108.2%—916.42025
Carroll County+9.0%+108.0%+153.3%160.52025
Lauderdale County+8.9%+107.7%+135.8%261.12025
Madison County+0.9%+106.8%+124.1%2382.42025
Montgomery County+3.7%+106.8%+194.0%2,4339.72025
Washington County+3.6%+104.8%+186.0%6514.62025
Grainger County+2.5%+104.2%—682.62025
Sequatchie County+0.5%+103.9%+153.0%140.82025
Weakley County+3.5%+103.8%+153.0%611.82025
Wayne County−5.2%+101.8%+190.7%10.12025
Crockett County+4.6%+101.5%+122.7%271.92025
Sullivan County+1.3%+101.3%+181.7%5723.52025
Pickett County−4.4%+101.2%+163.9%00.02025
Henry County+7.2%+99.1%+143.8%170.52025
McNairy County+1.8%+96.4%+147.0%130.52025
Polk County−9.2%+96.0%—1829.82025
Decatur County+16.5%+95.9%—90.82025
Haywood County−3.6%+95.8%+114.1%502.92025
Gibson County−0.7%+95.5%+125.2%2003.92025
Obion County+5.9%+91.9%+125.4%210.72025
Hardin County+4.2%+90.3%+146.5%361.32025
Tipton County+3.4%+90.0%+128.9%1442.32025
Johnson County−4.1%+87.0%—90.52025
Dyer County+9.1%+85.3%+120.9%681.92025
Stewart County−3.6%+83.9%+174.1%181.22025
Fayette County+3.6%+82.2%+114.4%4289.52025
Shelby County−0.1%+82.0%+99.8%1,5961.82025
Hardeman County+4.0%+77.5%+112.5%351.42025
Claiborne County−4.9%+65.2%+153.0%1023.12025

Metro and micropolitan areas

Areas with any county in Tennessee; multi-state areas appear under each of their states.

AreaType1 year10 yearsYear to 2026 Q2Units, 12 months
Lewisburg, TNMicro+5.6%+160.5%—385
Sevierville, TNMicro+4.8%+156.9%—1,336
Shelbyville, TNMicro+2.8%+141.7%—394
McMinnville, TNMicro+7.5%+141.6%—298
Winchester, TNMicro+5.4%+132.8%—393
Tullahoma-Manchester, TNMicro+4.4%+131.1%—496
Knoxville, TNMetro+2.8%+130.0%+3.9%7,804
Lawrenceburg, TNMicro+3.5%+127.0%—24
Morristown, TNMetro+2.6%+123.9%+0.9%726
Cookeville, TNMicro+4.1%+122.6%—934
Nashville-Davidson--Murfreesboro--Franklin, TNMetro+1.6%+121.8%+1.6%16,971
Fayetteville, TNMicro+7.4%+121.7%—181
Crossville, TNMicro+6.0%+120.4%—114
Athens, TNMicro+5.8%+119.0%—180
Greeneville, TNMicro+5.3%+116.0%—269
Chattanooga, TN-GAMetro+2.2%+115.2%+1.9%3,178
Newport, TNMicro+2.8%+115.1%—5
Cleveland, TNMetro+2.2%+109.2%+5.3%856
Johnson City, TNMetro+3.9%+107.6%+4.0%852
Jackson, TNMetro+1.9%+105.8%+6.1%483
Martin, TNMicro+3.5%+103.8%—61
Clarksville, TN-KYMetro+3.7%+103.1%+2.1%2,616
Paris, TNMicro+7.2%+99.1%—17
Kingsport-Bristol, TN-VAMetro+1.5%+97.8%+3.0%909
Union City, TNMicro+5.9%+91.9%—21
Dyersburg, TNMicro+9.1%+85.3%—68
Memphis, TN-MS-ARMetro+0.9%+82.2%+1.8%3,682

Building permits

Housing units authorised in Tennessee by month, latest 60 months02,0004,0006,000Sep 2021: 3,910 units (2,849 single-family, 1,061 in multi-unit buildings)Sep 2021Oct 2021: 4,722 units (2,960 single-family, 1,762 in multi-unit buildings)Nov 2021: 4,807 units (3,046 single-family, 1,761 in multi-unit buildings)Dec 2021: 4,776 units (2,630 single-family, 2,146 in multi-unit buildings)Jan 2022: 4,811 units (3,037 single-family, 1,774 in multi-unit buildings)Feb 2022: 4,150 units (3,053 single-family, 1,097 in multi-unit buildings)Mar 2022: 4,543 units (3,949 single-family, 594 in multi-unit buildings)Apr 2022: 4,300 units (3,292 single-family, 1,008 in multi-unit buildings)May 2022: 3,775 units (3,191 single-family, 584 in multi-unit buildings)Jun 2022: 3,817 units (3,141 single-family, 676 in multi-unit buildings)Jul 2022: 3,634 units (2,612 single-family, 1,022 in multi-unit buildings)Aug 2022: 2,800 units (2,486 single-family, 314 in multi-unit buildings)Sep 2022: 3,367 units (2,537 single-family, 830 in multi-unit buildings)Sep 2022Oct 2022: 2,383 units (1,992 single-family, 391 in multi-unit buildings)Nov 2022: 2,302 units (1,992 single-family, 310 in multi-unit buildings)Dec 2022: 2,104 units (1,523 single-family, 581 in multi-unit buildings)Jan 2023: 2,367 units (1,904 single-family, 463 in multi-unit buildings)Feb 2023: 4,633 units (2,230 single-family, 2,403 in multi-unit buildings)Mar 2023: 3,458 units (2,744 single-family, 714 in multi-unit buildings)Apr 2023: 5,084 units (2,699 single-family, 2,385 in multi-unit buildings)May 2023: 3,964 units (3,064 single-family, 900 in multi-unit buildings)Jun 2023: 3,788 units (3,190 single-family, 598 in multi-unit buildings)Jul 2023: 3,798 units (2,804 single-family, 994 in multi-unit buildings)Aug 2023: 5,993 units (2,973 single-family, 3,020 in multi-unit buildings)Sep 2023: 2,991 units (2,519 single-family, 472 in multi-unit buildings)Sep 2023Oct 2023: 3,903 units (2,815 single-family, 1,088 in multi-unit buildings)Nov 2023: 3,624 units (2,371 single-family, 1,253 in multi-unit buildings)Dec 2023: 2,934 units (2,166 single-family, 768 in multi-unit buildings)Jan 2024: 3,147 units (2,559 single-family, 588 in multi-unit buildings)Feb 2024: 4,296 units (3,053 single-family, 1,243 in multi-unit buildings)Mar 2024: 3,207 units (2,782 single-family, 425 in multi-unit buildings)Apr 2024: 4,127 units (3,079 single-family, 1,048 in multi-unit buildings)May 2024: 4,981 units (3,193 single-family, 1,788 in multi-unit buildings)Jun 2024: 3,218 units (2,860 single-family, 358 in multi-unit buildings)Jul 2024: 3,564 units (2,976 single-family, 588 in multi-unit buildings)Aug 2024: 4,465 units (2,900 single-family, 1,565 in multi-unit buildings)Sep 2024: 3,876 units (2,421 single-family, 1,455 in multi-unit buildings)Sep 2024Oct 2024: 3,161 units (2,614 single-family, 547 in multi-unit buildings)Nov 2024: 3,228 units (2,068 single-family, 1,160 in multi-unit buildings)Dec 2024: 3,130 units (2,350 single-family, 780 in multi-unit buildings)Jan 2025: 3,329 units (2,359 single-family, 970 in multi-unit buildings)Feb 2025: 3,256 units (2,506 single-family, 750 in multi-unit buildings)Mar 2025: 4,801 units (3,165 single-family, 1,636 in multi-unit buildings)Apr 2025: 3,986 units (3,029 single-family, 957 in multi-unit buildings)May 2025: 3,358 units (2,885 single-family, 473 in multi-unit buildings)Jun 2025: 3,962 units (2,809 single-family, 1,153 in multi-unit buildings)Jul 2025: 4,132 units (2,847 single-family, 1,285 in multi-unit buildings)Aug 2025: 3,313 units (2,603 single-family, 710 in multi-unit buildings)Sep 2025: 3,447 units (2,442 single-family, 1,005 in multi-unit buildings)Sep 2025Oct 2025: 3,449 units (2,635 single-family, 814 in multi-unit buildings)Nov 2025: 3,469 units (2,107 single-family, 1,362 in multi-unit buildings)Dec 2025: 3,076 units (2,199 single-family, 877 in multi-unit buildings)Jan 2026: 3,028 units (2,146 single-family, 882 in multi-unit buildings)Feb 2026: 3,216 units (2,490 single-family, 726 in multi-unit buildings)Mar 2026: 3,570 units (3,008 single-family, 562 in multi-unit buildings)Apr 2026: 4,480 units (2,990 single-family, 1,490 in multi-unit buildings)May 2026: 3,146 units (2,886 single-family, 260 in multi-unit buildings)Jun 2026: 3,430 units (2,789 single-family, 641 in multi-unit buildings)Jul 2026: 4,028 units (2,542 single-family, 1,486 in multi-unit buildings)Aug 2026: 3,217 units (2,722 single-family, 495 in multi-unit buildings)

Housing units authorised in Tennessee by month, latest 60 monthssingle-family2+ unit buildings

Housing units authorised in Tennessee by year, 1995–2025020,00040,00060,0001995: 35,096 units (27,695 single-family, 7,401 in multi-unit buildings)19951996: 40,522 units (28,217 single-family, 12,305 in multi-unit buildings)1997: 34,054 units (26,694 single-family, 7,360 in multi-unit buildings)1998: 34,126 units (28,293 single-family, 5,833 in multi-unit buildings)1999: 37,034 units (29,881 single-family, 7,153 in multi-unit buildings)2000: 32,203 units (24,440 single-family, 7,763 in multi-unit buildings)20002001: 32,370 units (26,229 single-family, 6,141 in multi-unit buildings)2002: 34,273 units (29,097 single-family, 5,176 in multi-unit buildings)2003: 37,530 units (32,219 single-family, 5,311 in multi-unit buildings)2004: 44,791 units (37,826 single-family, 6,965 in multi-unit buildings)2005: 46,615 units (40,174 single-family, 6,441 in multi-unit buildings)20052006: 46,003 units (39,196 single-family, 6,807 in multi-unit buildings)2007: 37,359 units (29,518 single-family, 7,841 in multi-unit buildings)2008: 22,389 units (16,240 single-family, 6,149 in multi-unit buildings)2009: 15,005 units (11,926 single-family, 3,079 in multi-unit buildings)2010: 16,475 units (11,630 single-family, 4,845 in multi-unit buildings)20102011: 14,977 units (11,513 single-family, 3,464 in multi-unit buildings)2012: 20,147 units (13,939 single-family, 6,208 in multi-unit buildings)2013: 23,816 units (16,548 single-family, 7,268 in multi-unit buildings)2014: 27,632 units (17,889 single-family, 9,743 in multi-unit buildings)2015: 32,219 units (21,636 single-family, 10,583 in multi-unit buildings)20152016: 36,157 units (24,551 single-family, 11,606 in multi-unit buildings)2017: 37,912 units (27,119 single-family, 10,793 in multi-unit buildings)2018: 37,169 units (28,021 single-family, 9,148 in multi-unit buildings)2019: 41,361 units (29,598 single-family, 11,763 in multi-unit buildings)2020: 49,719 units (33,030 single-family, 16,689 in multi-unit buildings)20202021: 57,484 units (36,986 single-family, 20,498 in multi-unit buildings)2022: 52,637 units (33,211 single-family, 19,426 in multi-unit buildings)2023: 47,463 units (31,293 single-family, 16,170 in multi-unit buildings)2024: 44,863 units (32,660 single-family, 12,203 in multi-unit buildings)2025: 43,374 units (32,068 single-family, 11,306 in multi-unit buildings)2025

Housing units authorised in Tennessee by year, 1995–2025single-family2+ unit buildings

Single-family share of the latest 12 months: 74% (63% nationally). Since 1995: 1,112,775 units.

Year by year

Each year's index change and permits, with every county's figures for that year.

YearTennessee indexUS indexUnits permittedSingle-family
2025+2.4%+2.8%43,37432,068
2024+4.8%+4.9%44,86332,660
2023+7.4%+5.7%47,46331,293
2022+21.3%+15.5%52,63733,211
2021+14.2%+11.6%57,48436,986
2020+4.5%+3.0%49,71933,030
2019+5.7%+4.2%41,36129,598
2018+7.1%+5.7%37,16928,021
2017+7.0%+5.4%37,91227,119
2016+5.8%+5.3%36,15724,551
2015+4.4%+4.4%32,21921,636
2014+4.2%+6.2%27,63217,889
2013+1.5%+3.4%23,81616,548
2012−1.0%−1.8%20,14713,939
2011−2.7%−4.4%14,97711,513
2010−3.5%−5.1%16,47511,630
2009−2.4%−7.5%15,00511,926
2008+0.2%−4.5%22,38916,240
2007+4.1%+0.6%37,35929,518
2006+7.2%+6.6%46,00339,196
2005+6.5%+12.4%46,61540,174
2004+3.7%+9.2%44,79137,826
2003+1.8%+4.5%37,53032,219
2002+2.3%+5.4%34,27329,097
2001+3.8%+6.7%32,37026,229
2000+3.4%+8.3%32,20324,440
1999+3.1%+4.3%37,03429,881
1998+4.1%+3.7%34,12628,293
1997+4.7%+3.8%34,05426,694
1996+4.5%+3.2%40,52228,217
1995+6.3%+3.7%35,09627,695

Cities issuing the most permits

Housing units authorised in the 12 months to August 2026; every place is listed on its county page.

Questions and answers

How much have home values in Tennessee risen over 10 years?

The FHFA index rose +113.5% between 2015 and 2025, +7.9% a year; over 20 years +139.6% and since 2000 +186.3%. Nationally: +85.0%, +79.1% and +158.3%.

Which Tennessee counties rose most over 10 years?

Marshall County (+160.5%), Sevier County (+156.9%) and Maury County (+152.5%), by FHFA's annual county index to 2025.

What happened to Tennessee home prices in 2008?

The state index peaked in 2008, fell −9.2% to 2012 and regained its peak in 2015.

How many homes are being built in Tennessee?

41,556 units were authorised in the 12 months to August 2026: 30,956 single-family and 10,600 in multi-unit buildings, 5.7 per 1,000 residents.

Where does this data come from?

FHFA's quarterly all-transactions state index (through 2026 Q2) and annual state index (updated March 31, 2026); the Census Bureau's Building Permits Survey state and county files through August 2026; vintage 2025 population estimates.

Provenance

Index: Federal Housing Finance Agency, quarterly all-transactions and purchase-only state indexes through 2026 Q2 and annual state index (updated March 31, 2026). Permits: Census Bureau Building Permits Survey state, county and place files through August 2026. Population: Census Bureau vintage 2025 estimates. Public domain. Corrections · FHFA HPI datasets.