Tennessee Single Family Homes For Sale - 24834 Homes | Zillow (2024)

FAQs

Why is Tennessee housing so cheap? ›

Tennessee doesn't have a state income tax. And generally, it has lower property taxes and a lower cost of living than other states, which has attracted everyone from working aged people to retirees, especially those from more expensive cities and coastal areas.

$324,797. The average Tennessee home value is $324,797, up 4.7% over the past year and goes to pending in around 14 days.

Lots of houses in TN have basem*nts but if you hit a lot of rock/boulders in the ground, that makes a basem*nt difficult. Western TN is very flat with good soil for farms so digging a basem*nt there is easier and so is much of Middle TN.

If the status is listed as contingent or pending, it means that the house is under contract; that is, the seller has accepted the buyer's offer to purchase the home, but there are still items to work out before the sale can be finalized.

Average Cost of Living in Tennessee: $42,469 per year

10, according to MERIC data gathered in 2022.

It is usually cheaper to buy a home than build a new one. However, by building your own home you get a brand-new residence, customized to your needs. It costs $261,940 on average to build a home in Tennessee. This figure can add up to $411,940 if you include land costs, excavations, permits, and other expenses.

Tennessee Housing Market Overview

In May 2024, home prices in Tennessee were up 5.4% compared to last year, selling for a median price. On average, the number of homes sold was up 2.7% year over year and there were 9,075 homes sold in May this year, up 8,837 homes sold in May last year.

The best cities in Tennessee include Nashville, Brentwood, Franklin, and Memphis. See what other towns comprise the best places to live in TN.

In Nashville, where the summers are warm and the living is easy, swimming pools are a popular way to beat the heat and add a touch of luxury to any home.

How much does it cost to build a basem*nt in Tennessee? ›

Cost to Build a Basem*nt Per Square Foot

Building a basem*nt foundation averages $15 to $130 per square foot. Unfinished basem*nts cost $20 to $37 per square foot.

A basem*nt is finished when the entire level is complete and similar to the upstairs living areas. It generally includes an electrical system, heat, finished floors, an accessible entrance/stairway, level ceilings, and finished walls.

Contingent – With No Kick-Out Clause

This means the seller can't accept another buyer's offer unless the current buyer can't meet the conditions of their offer. This provision protects the current buyer because they can't be “kicked out” unless they don't meet the contingencies.

Bottom line. “Generally, a seller can't cancel without cause,” Schorr says. “You could build in some contingency, but absent that, you had better be committed to the sale.” Reneging because you fear you underpriced the house, or you actually receive a better offer, doesn't count as “cause.”

A red dot on Zillow means that the home is currently for sale (rare exception: already foreclosed homes). The home will either be accepting offers, under contract, new construction, or up for auction. Click on the listing, and the text next to the dot will indicate what the home's status is.

In general, Tennessee is not expensive to live in. The cost of living in Tennessee is relatively low compared to other states, with housing, utilities, groceries, and clothing all below the national average.

Overall, Tennessee has much to offer those looking for a new place to live or purchase an affordable home. With low living costs and no income tax, it's easy to live comfortably in this southern state without breaking the bank.

Cost of Living Index: 90.2

Tennessee secures a place on our list of affordable states with a Wisevoter 2023 cost of living ranking lower than the national average at an index of 90.2.