Tennessee Metro Values, and Which Way They Moved
Program and regulatory figures verified October 9, 2026. Details change; confirm your scenario with us.
Five metros, two directions. A physician choosing between Nashville and Knoxville is choosing between a falling expensive market and a rising cheaper one.
The five metros
| Metro | Typical value | Year over year |
|---|---|---|
| ★ Nashville | $452,186 | ★ -0.6% |
| Sevierville | $407,709 | -0.2% |
| Knoxville | $364,988 | ★ +2.0% |
| Chattanooga | $322,958 | -0.2% |
| Tullahoma | $315,973 | +2.8% |
Zillow typical values, 33rd to 67th percentile, smoothed and seasonally adjusted, for the month ending 2026-08-31.
★★ The split runs the wrong way
Usually, when a state's markets diverge, the expensive metro keeps rising and the cheaper ones lag. Tennessee did the reverse this year.
Nashville, at $452,186, is the most expensive metro in the state and the one whose counties carry the raised $1,029,250 conforming limit. It fell 0.6%.
Knoxville, cheaper by roughly $87,000, rose 2.0%. Tullahoma rose 2.8% from the lowest base on the table.
★ So the two markets that gained are the two that needed the least borrowing capacity, and the market that got the extra $196,500 of headroom is the one that gave ground. Why the limit differs by county.
What a physician does with that
Not much, honestly, and we would rather say so.
A one-year move of under one percent in either direction is inside the noise of any single house. It does not tell you whether to buy, and it certainly does not tell you whether to wait. Where it does matter is expectation-setting: a physician arriving in Nashville on the assumption that the market only goes up should know the last twelve months say otherwise.
★ The thing that actually decides affordability on a physician file is the contract and the debt, not the metro trend. How your student loans are counted.
★ What these figures are not
- Not a forecast. A typical value for one month, and a year-over-year change through that month.
- Not neighbourhood-level. Nashville's typical value says nothing about East Nashville against Brentwood.
- Not a Memphis figure. Memphis did not appear in the Tennessee metro rows we read, so we publish no Memphis number rather than estimate one.
- Not a valuation. An appraisal on your file is the only number that governs your loan.
By metro
Nashville · Knoxville · Chattanooga.
Mike Certo, NMLS #260555. (480) 296-6513 · mcerto@cfmtg.com.
Frequently asked questions
What is the typical home value in Nashville?
$452,186 for the month ending August 31, 2026, down 0.6 percent year over year. That is Zillow's typical value for the metro, measured between the 33rd and 67th percentile and seasonally adjusted, making Nashville the most expensive Tennessee metro on the list.Are Tennessee home prices rising in 2026?
Not uniformly. Three of the five Tennessee metros measured fell over the year to August 31, 2026: Nashville at minus 0.6 percent, Sevierville and Chattanooga at minus 0.2 percent each. Knoxville rose 2.0 percent and Tullahoma rose 2.8 percent.Which Tennessee metro is growing fastest?
Of the five measured, Tullahoma at plus 2.8 percent and Knoxville at plus 2.0 percent were the only metros to gain over the year to August 31, 2026. Both are cheaper than Nashville, which fell.Why is there no Memphis figure on this page?
Memphis did not appear in the Tennessee metro rows we read at the source, and we publish figures we have verified rather than estimates. Ask and we will look at specific comparable sales for a Memphis address instead.Mike Certo · NMLS #260555 · Cornerstone First Mortgage NMLS #173855 · Equal Housing Lender. Educational content about physician mortgage financing, not a loan commitment and not legal, tax or financial advice. The Tennessee State Loan Repayment Program is administered by the Tennessee Department of Health and the Family Medicine Loan Repayment Incentive through the Tennessee Academy of Family Physicians, neither by Cornerstone; their terms, award amounts and application cycles are set by those bodies and change. Figures here carry the date we verified them against the programmes' own published materials. Physician-loan program terms, eligible degrees and overlays are set by the lender and change. All loans are subject to borrower, property and program qualification.