Reports conducted by MTSU’s Business and Economic Research Center, covering emerging trends in both housing and employment.

Every quarter Middle Tennessee State University publishes the Tennessee Housing Market report. It offers an overview of the state’s economy as it relates to the housing market. It includes data on employment, housing construction, real estate transactions and mortgages, home sales and prices, delinquencies, and foreclosures.

In recent months, the BERC has created an interactive website for readers to view the data. The most recent of its quarterly reports are posted below.

Each quarter, THDA will release some key metrics on the state of the housing economy, incorporating a variety of data sources and approaches to consider important trends across the State of Tennessee.

HUD’s Office of Policy Development and Research regularly produces Comprehensive Housing Market Analyses for regional housing markets. Tennessee’s 4 largest MSAs are updated every few years, with Memphis, Nashville, Knoxville and Chattanooga reports released in 2015, and Memphis and Nashville both having new, updated reports released during 2017. Reports document sector-level and firm-level employment trends, along with projected demand for both home sales and rental units. Links are included below:

Nashville MSA: 2020 | 2017 | 2015

Knoxville MSA: 2019 | 2015

Memphis MSA: 2017 | 2015

Chattanooga MSA: 2021 | 2015

Click HERE to view all of HUD’s Comprehensive Housing Market Analyses.

The following reports provide an overview of residential mortgage lending patterns in Tennessee using the Home Mortgage Disclosure Act (HMDA) data, which is a very comprehensive data source on mortgage applications during the calendar year. They will be updated annually as the data become available.

Statewide, total home sales in 2023 declined for a second year in a row from a record number of sales in 2021. There were a total of 95,906 homes sold in 2023, compared to 138,305 in 2021, which represented the year with the most homes sold since THDA began receiving these data in 1992. While the quantity of homes sold declined for the second year since 2021, the median price did not. In fact, the median home sale price rose to $339,900, which represents the highest nominal median sales price in state history and accounts for the twelfth consecutive year of an increase in median home sales price. This increase in home sale price was unevenly distributed by county, such that some counties, more than others, in particular drove this price increase. Nonetheless, almost every county (81 of 95) experienced an increase in the sales price from 2022 to 2023.

2023 Home Sales by County ( .pdf | .xls)

2023 Home Sales by MSA ( .pdf. | .xls)

All Home Sales 2012-2023 ( .pdf | .xls)

Existing Home Sales 2012-2023 (.pdf.pdf | .xls)

New Home Sales 2012-2023 (.pdf | .xls) *On May 9, 2025, an update was made to the longitudinal data. 2023 values in this file were incorrect in the original posting.

Median and average sales prices of new and existing homes are compiled from actual and up-to-date information pertaining to residential, single-family home sales in these counties for calendar year 2023. These data, collected locally, become part of a comprehensive database maintained by the Division of Property Assessment (Comptroller’s Office, State of Tennessee). This provides us with the opportunity to validate the sales price data in comparison to the assessed values of both the property and the improvement. In addition, information in the database enables us to restrict our analysis to actual arm’s length transactions.

All files include sales volume and median sales price by county or Metropolitan Statistical Area. Additionally, the 2022 Home Sales by County file includes median and average sales price by county, and 2023 Home Sales by MSA includes median and average sales price by MSA.

For your convenience, files are available as Adobe (.pdf) or Excel (.xls) files.

The above statistics are limited to single family homes, residential condos, and Planned Unit Developments (P.U.D.). Many property sales are denoted by the Comptroller’s Office to be not properly reflective of their market value; these tabulations exclude such sales. Those excluded were for a multitude of reasons, examples of which include:

• Very high ratios of sales price to actual assessed value,
• A transaction involving multiple parcels, or
• A non-arm’s length transaction.

The important takeaway here is that the sales statistics published by THDA do not include all transactions involving residential real estate, but rather those sales that reflect the characteristics of a traditional residential home sale on the open market.

Safe, sound, affordable housing options are essential for Tennesseans’ quality of life, including expanded education opportunities, stronger health outcomes, and increased economic mobility. In the four years since the release of the last Housing Market at a Glance Report, Tennessee has experienced a great deal of change in how and where people live. Following the COVID-19 pandemic, domestic and interstate migration as well as shifts in the economic functions of our world have reshaped the current housing market. For these reasons and more, the Housing Market at a Glance examines the current state of housing in Tennessee by highlighting the key trends in the state’s demographics, housing market, and other issues. Consider pairing this analysis with THDA’s Housing Indicators.

2023 Tennessee Housing Market at a Glance

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At a Glance: 2019

At a Glance: 2018

At a Glance: 2017

At a Glance: 2016

At a Glance: 2015

At a Glance: 2014

At a Glance: 2013

At a Glance: 2012

At a Glance: 2011

At a Glance: 2010

At a Glance: 2009

At a Glance: 2008