These Areas Are the Most Expensive in Tennessee, According to Real Estate Data

Franklin, TN.Photo byJosh WithersonUnsplash

Tennessee, once one of the nation's cheapest areas, is quickly becoming significantly more expensive. That news should come as no surprise to the state's residents, who've been grappling with dramatically increased housing costs amidst inflationary pressures in several other categories. In short: it's been a rough couple of years for Tennessee residents on a budget.

Still, not all areas are created equal. And while Tennessee's median homes sales price as a whole increased from $245,000 in January of 2020 to $369,000 at the end of last year, that latter figure would still be a downright bargain in some of the regions we'll be looking at today.

So we'll look at the state's most expensive areas below, based on the median sales price for homes in the area according to data provided by Redfin. Tennessee's demographically diverse nature, exemplified best by the Grand Divisions, creates a unique environment for those looking at real estate in the area, a trend we'll explore in more detail below.

Honorable Mention - Wilson County: $445,000 median sale price

Many would likely expect this occasionally affluent Nashville suburb to crack the top three on our list, but that is not the case. We give Middle Tennessee's Wilson County an honorable mention here as, for most of 2022, it would have earned a spot on our list.

Instead, Wilson County just misses. Even inside this county, prices vary wildly. The Mt. Juliet area closest to Nashville sees plenty of homes well into the $1 million range, while values tend to be cheapest near Lebanon in the middle of the county. In the somewhat more sparsely populated southeast region, prices vary wildly depending on the age of construction and size of the lot.

Regardless, Wilson County ranks as the 4th-most expensive of all 95 of Tennessee's counties, meaning this area isn't exactly a bargain no matter where you look. The relatively strong job market and local education system may make up for it in the minds of some buyers, though.

3. Moore County: $465,000 median sale price

Narrowly edging out Wilson County for the #3 spot, small and rural Moore County's place in our rankings may come as a surprise to some. While still technically in Middle Tennessee, Moore differs greatly from many of its geographical neighbors in terms of demographics, size, and general ambiance. With a population of only 6,500, Moore County is also the third-smallest county in the entire state in terms of residents.

Tennessee road through a forest.Photo byJP ValeryonUnsplash

With most of its population comprised solely of the city of Lynchburg, Moore County offers larger lots, grander houses, and more agricultural opportunities than many of the other entrants on our list. The County is also home to the Jack Daniels Distillery, a name familiar to most residents of the nation, let alone the state. These local businesses are essential to the nearby economy, as the county is a fair distance from any metropolitan area. Technically, Lynchburg is closer to Huntsville, Alabama, than it is to Nashville.

Fewer sales in the area mean price changes are more volatile, but Moore has consistently ranked in the top-5 most expensive counties in the state throughout the last year. Even on a square-footage basis, the county is pricy at $223 per square foot - nearly double the United States median of $123 according to Realtor.com. Those who enjoy the outdoors or just being away from the more urban areas of the state would have options in small Moore County.

2. Sevier County: $610,000 median sale price

A huge price gap separates our top two counties from the rest of the state, starting with eastern Sevier County. Located in East Tennessee, Sevier is the only non-Middle Tennessean county to make this list, but it makes it by a mile.

Sevier is home to some of the priciest real estate in not just Tennessee, but in the entire region. While sometimes referred to as a suburb of Knoxville, Sevier has a strong local economy in its own right from its cities of Sevierville, Pigeon Forge, and Gatlinburg. The areas around Gatlinburg - just north of Great Smoky Mountains National Park - see some of the highest prices in the county, with homes routinely selling for well over a million dollars. The homes that form a sort-of perimeter around Pigeon Forge fare similarly well.

Snowbird Creek.Photo byJeff DewittonUnsplash

Sevier's unique location with massive wildlife preserves to the south and southeast and urban Knoxville to the northwest make it attractive to many different types of potential buyers. While both of those are worthwhile attractions, it will cost you quite a bit to locate yourself in that sweet spot.

1. Williamson County: $813,000 median sale price

When it comes to the most expensive real estate in Tennessee, no one else comes close to Williamson County. Driven in equal parts by the strong job market originating from northern neighbor Nashville and the population growth that has followed it, Williamson County has quickly become a real estate hotspot known across the region.

Its population of more than 250,000 residents represents a near double of its numbers at the turn of the 21st century when only 126,000 people called the county home. It certainly doesn't hurt the county's reputation to have one of the best-ranked public school systems in the state, either, with only 16 students per teacher and a graduation rate that far exceeds state and national averages.

Generally speaking, the closer one gets to Nashville the pricier the real estate in Williamson County becomes. While there are a few exceptions to that rule, such as the loftily priced homes in Franklin, much of the money flowing into the area comes from wealthier Nashville commuters who want to avoid the urban city life while keeping their commute times reasonable. Towns like Brentwood that are bordering Nashville see homes sell for two, three, or even four million dollars on a regular basis.

No amount of price hikes can seem to dampen enthusiasm for the area, either - at the market's peak in March of 2022, homes were selling on average just seven days after being listed. Two-thirds of those sold for well above the list price as well, according to Redfin.

While each of these areas has its own distinct advantages, the surges in real estate prices mean that many are financially prohibited from living there. Luckily for Tennessee residents, the state's average price remains nearly half that of our most expensive counties. For those who can afford the lifestyle, areas like Williamson offer countless advantages. For the majority who cannot, though, Tennessee still offers far more affordable areas - often not far at all from those we've gone over today.

Note: Anyone interested in reviewing the full real estate data for the state can access Redfin's database here and select the appropriate drop-down menus.