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Home Mortgage Rates in Tennessee

Tennessee is a fantastic state to live in. It has everything a potential new resident could want; a wonderful climate, a growing economy, great real estate prospects, history, culture, friendly people, and plenty of things to do and see. For those interested in moving to Tennessee, it is important to know a bit about the state as well as housing information.

Tennessee Real Estate

Tennessee has a mix of real estate for sale, making it a great state for all budgets. Counties such as Sevier, Blount, Fayette, and Hardin have higher median home prices, in the $260,000 range; Hickman county, Putnam, Hawkins, and Cocke county median ranges fall between $167,000 and $240,000; Crockett county, Gibson county, Hancock county, and Lincoln county all have average property ranges from $111,000 and below. To help put that in perspective compared to the rest of the country, the national average for the United States is approximately $178,000. Generally, the counties with lower average rates lay in the northwestern corner of the state, and the average prices gradually increase the further east you go; pretty much all of the counties on the eastern border of Tennessee are all in the higher bracket of the overall state average bracket ($240,000 and up). Tennessee properties have retained their value through the recent tough real estate times. At any given point, Tennessee has thousands of properties available; everything from land to develop and multi-family homes to single-family homes and condominiums. There are plenty to choose from!

Metropolitan Areas

TN Rank US Rank Metropolitan Area 2016 Pop 2010 Pop Change % △
1 36 Nashville-Davidson--Murfreesboro--Franklin 1,865,298 1,670,890 194,408 11.63%
2 42 Memphis, TN-MS-AR Metro Area 1,342,842 1,324,829 18,013 1.36%
3 64 Knoxville 868,546 837,571 30,975 3.70%
4 100 Chattanooga, TN-GA Metro Area 551,632 528,143 23,489 4.45%
5 162 Kingsport-Bristol-Bristol, TN-VA Metro Area 306,334 309,544 -3,210 -1.04%
6 168 Clarksville, TN-KY Metro Area 282,349 260,625 21,724 8.34%
7 220 Johnson City 201,661 198,716 2,945 1.48%
8 316 Jackson 129,527 130,011 -484 -0.37%
9 332 Cleveland 121,262 115,788 5,474 4.73%
10 342 Morristown 117,320 113,951 3,369 2.96%
11 358 Cookeville 109,548 106,042 3,506 3.31%
12 375 Tullahoma-Manchester 102,705 100,210 2,495 2.49%
13 398 Sevierville 96,673 89,889 6,784 7.55%
14 486 Greeneville 68,615 68,831 -216 -0.31%
15 534 Crossville 58,655 56,053 2,602 4.64%
16 573 Athens 52,850 52,266 584 1.12%
17 615 Shelbyville 47,484 45,058 2,426 5.38%
18 661 Lawrenceburg 43,081 41,869 1,212 2.89%
19 687 McMinnville 40,516 39,839 677 1.70%
20 730 Dyersburg 37,708 38,335 -627 -1.64%
21 743 Union City, TN-KY Micro Area 36,757 38,620 -1,863 -4.82%
22 763 Newport 35,219 35,662 -443 -1.24%
23 780 Martin 33,507 35,021 -1,514 -4.32%
24 796 Dayton 32,442 31,809 633 1.99%
25 798 Paris 32,310 32,330 -20 -0.06%
26 801 Lewisburg 31,915 30,617 1,298 4.24%
27 916 Brownsville 17,853 18,787 -934 -4.97%

Tennessee’s Most Popular Cities

Nashville is easily the most popular city for residents in Tennessee. With various employment opportunities, sightseeing attractions, notable places, prime real estate prospects, incredible restaurants, exciting nightlife, and easy public transportation, Nashville tops the list. Speaking of lists, last year Nashville topped Kiplinger Financial Magazine’s “Smartest Places to Live” list as the number one entry. For those who want close access to Music City, USA but who do not necessarily want to live there, Nashville’s outlying suburbs are great. Gallatin, Brentwood, Franklin, Goodlettsville, White House, and Thompson's Station are just a few of the more favored Nashville suburbs.

Nashville Skyline.

Another incredibly popular Tennessee city is Memphis. With the largest population in the state, 670,100, Shelby County’s seat boasts local festivals such as Memphis in May, a month long event celebrating Memphis’ people and culture. Memphis sits on the Mississippi river, is intersected by numerous freight railways, and two interstates, making it an industrial hub. This city is the corporate headquarters for 9 different Fortune 500 companies, and was included in the top eight entries of Inc. Magazine’s “50 Best Major Metropolitan Areas” in the United States for beginning and expanding businesses.

Memphis Skyline.

Knoxville is the third-largest city in Tennessee, home to 173,890 residents, and the county seat of Knox County. Easily accessible via one of the two nearby interstate highways, Knoxville is a popular location for distribution and warehousing companies such as Bush Brothers and Company and Pilot Corporation. It has great educational opportunities at institutions such as Knoxville College and Johnson Bible College, and teems with entertainment, culture, and unique attractions. In April of 2008, Forbes Magazine placed Knoxville in its list of “Top 10 Metropolitan Hotspots” in the United States.

Knoxville Skyline.

Chattanooga is the fourth-largest city, with an estimated population of 171,279 in 2012. The city is home to the University of Tennessee at Chattanooga and Chattanooga State Community College. It has won numerous awards including an All-American city award in 1962 and is one of the few municipalities to own its own typeface Chatype.

Chattanooga.

Tennessee’s Fastest Growing Cities

Spring Hill, located 30 miles south of Nashville, is one of the fastest growing cities in the United States, let alone in Tennessee. Nearly a ghost town in the early nineties, today there are approximately 24,000 residents; between the years 2000 and 2005, the population doubled, with no slowing down in sight. Historically, this town was the site of the Civil War Battle of Spring Hill in 1864, and today is home to Dawson McAllister Ministries, UnitedHealth Group, and Newland Industries. This increase of population is due to both industry and residents from neighboring counties.

Murfreesboro is the county seat of Rutherford County and 35 miles away from Nashville. With three beautiful parks, a popular Center for the Arts, plenty of shopping and dining, and five museums, Murfreesboro is on the move. Middle Tennessee State University is one of the city’s largest employers, followed closely by State Farm, Alvin C. York Veterans Administration Medical Center, Middle Tennessee Medical Center, and Verizon Wireless. The population increase in Murfreesboro (66%) is largely due to an extremely high quality of life; small schools, great neighborhoods, a rural setting, low crime rate, and friendly residents all make Murfreesboro a growing city.

Tennessee Census Data

According to the United States Census an estimated 6,651,194 people live in the state of Tennessee. The state has 41,234.9 mi² of land area, which gave it a population density of 161.3 per mi². Here is a list of cities, towns & Census Designated Places across the state, with their estimated population as of June 2016 & the 2010 United States Census. For towns with fewer than 5,000 residents & Census Designated Places (CDP) where there was no population estimate available for 2016, the 2011-2015 American Community Survey 5-Year Estimates data was used.

All table columns are sortable. Click on the column headers to sort by that column. Click again to sort low to high. Cities with higher levels of population growth typically see the increased demand drive faster real estate price appreciation.

Rank Geography County 2016 Pop 2010 Pop Change % △ Land mi² Pop Den mi²
1 Nashville Davidson 660,388 601,222 59,166 9.84% 475.13 1,389.91
2 Memphis Shelby 652,717 646,889 5,828 0.90% 315.05 2,071.79
3 Knoxville Knox 186,239 178,874 7,365 4.12% 98.52 1,890.37
4 Chattanooga Hamilton 177,571 167,674 9,897 5.90% 137.15 1,294.72
5 Clarksville Montgomery 150,287 132,929 17,358 13.06% 97.6 1,539.83
6 Murfreesboro Rutherford 131,947 108,755 23,192 21.32% 55.35 2,383.87
7 Franklin Williamson 74,794 62,487 12,307 19.70% 41.23 1,814.07
8 Jackson Madison 67,005 65,211 1,794 2.75% 53.73 1,247.07
9 Johnson City Washington, Carter & Sullivan 66,677 63,152 3,525 5.58% 42.94 1,552.79
10 Bartlett Shelby 58,622 54,613 4,009 7.34% 26.65 2,199.70
11 Hendersonville Sumner 57,050 51,372 5,678 11.05% 31.37 1,818.62
12 Kingsport Sullivan & Hawkins 52,806 48,205 4,601 9.54% 49.81 1,060.15
13 Collierville Shelby & Fayette 49,177 43,965 5,212 11.85% 29.29 1,678.97
14 Smyrna Rutherford 48,596 39,974 8,622 21.57% 29.6 1,641.76
15 Cleveland Bradley 44,271 41,285 2,986 7.23% 26.89 1,646.37
16 Brentwood Williamson 42,517 37,060 5,457 14.72% 41.18 1,032.47
17 Germantown Shelby 39,056 38,844 212 0.55% 19.97 1,955.73
18 Spring Hill Williamson & Maury 37,731 29,036 8,695 29.95% 27.07 1,393.83
19 Columbia Maury 37,540 34,681 2,859 8.24% 31.54 1,190.23
20 Gallatin Sumner 35,734 30,278 5,456 18.02% 31.2 1,145.32
21 La Vergne Rutherford 35,071 32,588 2,483 7.62% 24.93 1,406.78
22 Mount Juliet Wilson 33,263 23,671 9,592 40.52% 19.46 1,709.30
23 Cookeville Putnam 32,622 30,435 2,187 7.19% 32.68 998.23
24 Lebanon Wilson 31,317 26,190 5,127 19.58% 38.63 810.69
25 Morristown Hamblen & Jefferson 29,663 29,137 526 1.81% 27.9 1,063.19
26 Oak Ridge Anderson & Roane 29,350 29,330 20 0.07% 85.25 344.28
27 Maryville Blount 28,703 27,465 1,238 4.51% 16.8 1,708.51
28 Bristol Sullivan 27,109 26,702 407 1.52% 32.3 839.29
29 Farragut Knox & Loudon 22,282 20,676 1,606 7.77% 16.03 1,390.02
30 Shelbyville Bedford 21,432 20,335 1,097 5.39% 18.61 1,151.64
31 East Ridge Hamilton 21,302 20,979 323 1.54% 8.28 2,572.71
32 Tullahoma Coffee & Franklin 19,273 18,655 618 3.31% 23.49 820.48
33 Goodlettsville Davidson & Sumner 16,950 15,921 1,029 6.46% 14.15 1,197.88
34 Springfield Robertson 16,809 16,440 369 2.24% 13.33 1,260.99
35 Dyersburg Dyer 16,685 17,145 -460 -2.68% 17.35 961.67
36 Sevierville Sevier 16,665 14,807 1,858 12.55% 24.14 690.35
37 Dickson Dickson 15,492 14,538 954 6.56% 19.95 776.54
38 Greeneville Greene 15,061 15,062 -1 -0.01% 17.01 885.42
39 Elizabethton Carter 13,854 14,176 -322 -2.27% 9.74 1,422.38
40 McMinnville Warren 13,761 13,605 156 1.15% 11.07 1,243.09
41 Athens McMinn 13,748 13,458 290 2.15% 13.98 983.40
42 Soddy-Daisy Hamilton 13,217 12,714 503 3.96% 22.62 584.31
43 Portland Sumner & Robertson 12,522 11,480 1,042 9.08% 14.26 878.12
44 Lakeland Shelby 12,494 12,430 64 0.51% 23.47 532.34
Middle Valley CDP Hamilton 12,235 12,684 -449 -3.54% 10.72 1,141.32
45 Red Bank Hamilton 11,813 11,651 162 1.39% 6.52 1,811.81
46 Lewisburg Marshall 11,600 11,100 500 4.50% 13.35 868.91
47 Arlington Shelby 11,566 11,517 49 0.43% 23.06 501.56
48 Crossville Cumberland 11,455 10,795 660 6.11% 19.97 573.61
49 Collegedale Hamilton 11,437 8,282 3,155 38.09% 9.9 1,155.25
50 White House Sumner & Robertson 11,388 10,255 1,133 11.05% 10.99 1,036.21
Seymour CDP Sevier & Blount 11,059 10,919 140 1.28% 12.63 875.61
51 Millington Shelby 10,974 10,176 798 7.84% 31.63 346.95
52 Martin Weakley 10,768 11,473 -705 -6.14% 12.67 849.88
53 Lawrenceburg Lawrence 10,736 10,428 308 2.95% 12.67 847.36
54 Manchester Coffee 10,617 10,102 515 5.10% 14.15 750.32
55 Union City Obion 10,589 10,895 -306 -2.81% 11.93 887.59
56 Paris Henry 10,192 10,156 36 0.35% 12.99 784.60
57 Clinton Anderson 10,106 9,841 265 2.69% 11.43 884.16
58 Alcoa Blount 9,874 8,449 1,425 16.87% 14.73 670.33
59 Brownsville Haywood 9,782 10,292 -510 -4.96% 10.2 959.02
Bloomingdale CDP Sullivan 9,730 9,888 -158 -1.60% 9.98 974.95
60 Lenoir City Loudon 9,106 8,642 464 5.37% 8.48 1,073.82
61 Atoka Tipton 9,095 8,387 708 8.44% 12.33 737.63
62 Covington Tipton 8,924 9,038 -114 -1.26% 11.43 780.75
63 Signal Mountain Hamilton 8,573 7,554 1,019 13.49% 7.66 1,119.19
64 Winchester Franklin 8,562 8,530 32 0.38% 10.71 799.44
65 Fairview Williamson 8,529 7,720 809 10.48% 16.89 504.97
66 Jefferson City Jefferson 8,335 8,047 288 3.58% 6.38 1,306.43
67 Hartsville Trousdale 8,271 7,870 401 5.10% 114.19 72.43
68 Humboldt Gibson & Madison 8,235 8,452 -217 -2.57% 9.7 848.97
Fairfield Glade CDP Cumberland 8,216 6,989 1,227 17.56% 22.73 361.46
69 Ripley Lauderdale 8,116 8,445 -329 -3.90% 12.81 633.57
70 Milan Gibson 7,792 7,851 -59 -0.75% 8.9 875.51
71 Lexington Henderson 7,769 7,652 117 1.53% 12.25 634.20
72 Pulaski Giles 7,758 7,870 -112 -1.42% 7.22 1,074.52
73 Oakland Fayette 7,690 6,623 1,067 16.11% 10.25 750.24
Harrison CDP Hamilton 7,601 7,769 -168 -2.16% 7.13 1,066.06
74 Nolensville Williamson 7,580 5,861 1,719 29.33% 7.44 1,018.82
75 Dayton Rhea 7,248 7,191 57 0.79% 7.65 947.45
76 Fayetteville Lincoln 7,051 6,827 224 3.28% 10.9 646.88
77 Savannah Hardin 7,019 6,982 37 0.53% 6.52 1,076.53
78 La Follette Campbell 6,971 7,456 -485 -6.50% 4.91 1,419.76
79 Newport Cocke 6,833 6,945 -112 -1.61% 5.53 1,235.62
80 Greenbrier Robertson 6,796 6,433 363 5.64% 6.96 976.44
81 Millersville Sumner & Robertson 6,742 6,440 302 4.69% 13.71 491.76
Green Hill CDP Wilson 6,741 6,618 123 1.86% 3.46 1,948.27
82 Church Hill Hawkins 6,740 6,737 3 0.04% 9.35 720.86
83 Henderson Chester 6,551 6,309 242 3.84% 7.84 835.59
South Cleveland CDP Bradley 6,458 6,912 -454 -6.57% 14.34 450.35
84 Lynchburg Moore 6,323 6,362 -39 -0.61% 129.22 48.93
85 Harriman Roane & Morgan 6,218 6,350 -132 -2.08% 10.37 599.61
86 Pigeon Forge Sevier 6,199 5,875 324 5.51% 13.21 469.27
Tellico Village CDP Loudon 6,136 5,791 345 5.96% 7.45 823.62
87 Munford Tipton 6,057 5,927 130 2.19% 8.55 708.42
88 Sweetwater Monroe & McMinn 5,933 5,764 169 2.93% 8.52 696.36
89 Erwin Unicoi 5,920 6,097 -177 -2.90% 4.04 1,465.35
90 Kingston Roane 5,840 5,934 -94 -1.58% 7.1 822.54
91 Loudon Loudon 5,750 5,381 369 6.86% 13.82 416.06
92 McKenzie Carroll , Weakley & Henry 5,564 5,310 254 4.78% 6.26 888.82
93 Rockwood Roane 5,443 5,562 -119 -2.14% 8.05 676.15
94 Mount Carmel Hawkins 5,427 5,429 -2 -0.04% 6.94 781.99
95 Jonesborough Washington 5,333 5,051 282 5.58% 5.14 1,037.55
96 Thompson's Station Williamson 5,194 2,194 3,000 136.74% 18.76 276.87
97 Lafayette Macon 5,141 4,474 667 14.91% 4.76 1,080.04
98 Dunlap Sequatchie 5,132 4,815 317 6.58% 10.74 477.84
99 Bolivar Hardeman 5,112 5,417 -305 -5.63% 8.41 607.85
Oak Grove CDP Washington 5,099 4,425 674 15.23% 4.48 1,138.17
100 Sparta White 5,073 4,925 148 3.01% 6.74 752.67
101 Forest Hills Davidson 4,993 4,812 181 3.76% 9.22 541.54
102 Mount Pleasant Maury 4,853 4,561 292 6.40% 12.29 394.87
103 Madisonville Monroe 4,770 4,577 193 4.22% 6.21 768.12
104 Smithville DeKalb 4,692 4,530 162 3.58% 5.91 793.91
105 Oak Hill Davidson 4,681 4,529 152 3.36% 7.84 597.07
106 Ashland City  Cheatham 4,641 4,541 100 2.20% 10.1 459.50
107 Whiteville Hardeman 4,503 4,638 -135 -2.91% 2.75 1,637.45
108 Selmer McNairy 4,465 4,396 69 1.57% 9.77 457.01
109 Coopertown Robertson 4,429 4,278 151 3.53% 31.49 140.65
110 Harrogate Claiborne 4,388 4,389 -1 -0.02% 7.63 575.10
111 Rogersville Hawkins 4,375 4,420 -45 -1.02% 3.4 1,286.76
Eagleton Village CDP Blount 4,360 5,052 -692 -13.70% 2.94 1,482.99
112 Tiptonville Lake 4,349 4,464 -115 -2.58% 2.05 2,121.46
113 Pleasant View Cheatham 4,346 4,149 197 4.75% 12.52 347.12
114 Gatlinburg Sevier 4,206 3,944 262 6.64% 10.35 406.38
115 Algood Putnam 4,193 3,495 698 19.97% 4.03 1,040.45
116 Medina Gibson 4,182 3,479 703 20.21% 3.15 1,327.62
117 Trenton Gibson 4,140 4,264 -124 -2.91% 8.14 508.60
118 Waverly Humphreys 4,133 4,105 28 0.68% 8.77 471.27
119 Louisville Blount 4,127 2,439 1,688 69.21% 11.73 351.83
120 Livingston Overton 4,062 4,058 4 0.10% 6.44 630.75
Lake Tansi CDP Cumberland 3,972 3,803 169 4.44% 8.51 466.75
Spurgeon CDP Washington & Sullivan 3,961 3,957 4 0.10% 4.12 961.41
121 Huntingdon Carroll 3,913 3,985 -72 -1.81% 11.89 329.10
122 Oneida Scott 3,722 3,752 -30 -0.80% 9.35 398.07
123 Hohenwald Lewis 3,678 3,757 -79 -2.10% 5.35 687.48
124 Centerville Hickman 3,568 3,644 -76 -2.09% 11.31 315.47
125 Camden Benton 3,551 3,582 -31 -0.87% 5.67 626.28
126 Unicoi Unicoi 3,531 3,632 -101 -2.78% 16.41 215.17
Colonial Heights CDP Sullivan 3,512 6,934 -3,422 -49.35% 5.99 586.31
127 Etowah McMinn 3,508 3,490 18 0.52% 2.92 1,201.37
Wildwood Lake CDP Bradley 3,475 3,124 351 11.24% 12.02 289.10
128 White Bluff Dickson 3,437 3,206 231 7.21% 5.93 579.60
129 Jasper Marion 3,362 3,279 83 2.53% 9.37 358.80
130 Newbern Dyer 3,284 3,313 -29 -0.88% 4.88 672.95
131 Oliver Springs Anderson, Roane & Morgan 3,253 3,231 22 0.68% 5.56 585.07
132 Somerville Fayette 3,137 3,094 43 1.39% 12.39 253.19
133 Bean Station Grainger 3,109 2,826 283 10.01% 5.39 576.81
134 South Pittsburg Marion 3,097 2,992 105 3.51% 6 516.17
Shackle Island CDP Sumner 3,029 2,844 185 6.50% 5.59 541.86
Fairmount CDP Hamilton 2,984 2,825 159 5.63% 5.18 576.06
135 Belle Meade Davidson 2,964 2,912 52 1.79% 3.08 962.34
136 Dandridge Jefferson 2,956 2,812 144 5.12% 5.89 501.87
137 Brighton Tipton 2,936 2,735 201 7.35% 2.79 1,052.33
138 Monterey Putnam 2,868 2,850 18 0.63% 3.05 940.33
139 Dresden Weakley 2,846 3,005 -159 -5.29% 5.56 511.87
140 Woodbury Cannon 2,777 2,680 97 3.62% 2.01 1,381.59
141 New Tazewell Claiborne 2,767 3,037 -270 -8.89% 5.13 539.38
142 Kingston Springs Cheatham 2,763 2,756 7 0.25% 9.92 278.53
Park City CDP Lincoln 2,734 2,442 292 11.96% 5.46 500.73
Coalfield CDP Morgan 2,690 2,463 227 9.22% 24.73 108.77
143 Tusculum Greene 2,670 2,663 7 0.26% 4.81 555.09
Mascot CDP Knox 2,666 2,411 255 10.58% 6.96 383.05
144 Clifton Wayne 2,658 2,694 -36 -1.34% 6.37 417.27
Sale Creek CDP Hamilton 2,657 2,845 -188 -6.61% 30.2 87.98
Sewanee CDP Franklin 2,642 2,311 331 14.32% 3.89 679.18
Apison CDP Hamilton 2,505 2,469 36 1.46% 14.81 169.14
145 Alamo Crockett 2,457 2,461 -4 -0.16% 2.2 1,116.82
146 Mountain City Johnson 2,443 2,531 -88 -3.48% 3.31 738.07
147 Bells Crockett 2,426 2,437 -11 -0.45% 2.33 1,041.20
148 Decherd Franklin 2,414 2,361 53 2.24% 4.75 508.21
Blountville CDP Sullivan 2,364 3,074 -710 -23.10% 4.95 477.58
149 Maynardville Union 2,357 2,413 -56 -2.32% 5.46 431.68
150 Parsons Decatur 2,357 2,373 -16 -0.67% 4.14 569.32
151 Waynesboro Wayne 2,357 2,449 -92 -3.76% 3.75 628.53
Pine Crest CDP Carter 2,330 2,388 -58 -2.43% 1.85 1,259.46
152 Westmoreland Sumner 2,311 2,206 105 4.76% 3.92 589.54
153 Mosheim Greene 2,303 2,362 -59 -2.50% 6.13 375.69
Lakewood Davidson 2,302 2,302 0 0.00% 1.01 2,279.21
Walnut Hill CDP Sullivan 2,301 2,394 -93 -3.88% 4.28 537.62
154 Carthage Smith 2,286 2,306 -20 -0.87% 2.86 799.30
155 Tazewell Claiborne 2,281 2,218 63 2.84% 4.43 514.90
156 White Pine Jefferson & Hamblen 2,262 2,196 66 3.01% 2.64 856.82
Central CDP Carter 2,258 2,279 -21 -0.92% 3.47 650.72
157 South Fulton Obion 2,256 2,354 -98 -4.16% 3.3 683.64
158 Dyer Gibson 2,236 2,341 -105 -4.49% 2.28 980.70
159 Jellico Campbell 2,236 2,355 -119 -5.05% 6.3 354.92
160 Adamsville McNairy & Hardin 2,204 2,207 -3 -0.14% 6.86 321.28
161 Caryville Campbell 2,179 2,297 -118 -5.14% 5.15 423.11
162 Halls Lauderdale 2,162 2,255 -93 -4.12% 3.66 590.71
163 Pegram Cheatham 2,115 2,093 22 1.05% 7.72 273.96
164 Walden Hamilton 2,098 1,898 200 10.54% 3.58 586.03
165 Greenfield Weakley 2,091 2,182 -91 -4.17% 3.68 568.21
166 Ridgetop Robertson & Davidson 2,076 1,874 202 10.78% 2.89 718.34
167 Plainview Union 2,047 2,125 -78 -3.67% 6.5 314.92
168 Estill Springs Franklin 2,027 2,055 -28 -1.36% 4.4 460.68
169 Spring City Rhea 1,988 1,981 7 0.35% 2.61 761.69
170 Jamestown Fentress 1,963 1,959 4 0.20% 2.9 676.90
171 Jacksboro Campbell 1,944 2,020 -76 -3.76% 2.54 765.35
Hopewell CDP Bradley 1,922 1,874 48 2.56% 7.15 268.81
172 New Johnsonville Humphreys 1,915 1,951 -36 -1.85% 5.31 360.64
173 Lookout Mountain Hamilton 1,888 1,832 56 3.06% 1.26 1,498.41
174 Blaine Grainger 1,875 1,856 19 1.02% 9.39 199.68
175 Lakesite Hamilton 1,867 1,826 41 2.25% 1.68 1,111.31
Gray CDP Washington 1,811 1,222 589 48.20% 1.5 1,207.33
New Union CDP Coffee 1,801 1,431 370 25.86% 3.84 469.01
176 Surgoinsville Hawkins 1,787 1,801 -14 -0.78% 5.58 320.25
177 Lake City Anderson & Campbell 1,779 1,781 -2 -0.11% 1.59 1,118.87
178 Loretto Lawrence 1,752 1,714 38 2.22% 3.93 445.80
179 Gruetli-Laager Grundy 1,744 1,813 -69 -3.81% 12.56 138.85
180 Cross Plains Robertson 1,731 1,714 17 0.99% 8.49 203.89
181 Whitwell Marion 1,717 1,699 18 1.06% 3.39 506.49
182 McEwen Humphreys 1,716 1,750 -34 -1.94% 1.87 917.65
Rural Hill CDP Wilson 1,716 2,007 -291 -14.50% 3.83 448.04
183 Ridgely Lake 1,707 1,795 -88 -4.90% 1.71 998.25
Hunter CDP Carter 1,684 1,854 -170 -9.17% 6.39 263.54
184 Cowan Franklin 1,683 1,737 -54 -3.11% 2.07 813.04
185 Piperton Fayette 1,683 1,445 238 16.47% 27.18 61.92
186 Three Way Madison 1,676 1,709 -33 -1.93% 4.54 369.16
Midtown CDP Roane 1,669 1,360 309 22.72% 4.59 363.62
187 Bluff City Sullivan 1,656 1,733 -77 -4.44% 1.54 1,075.32
188 Pikeville Bledsoe 1,648 1,608 40 2.49% 2.44 675.41
189 Norris Anderson 1,642 1,491 151 10.13% 7.19 228.37
190 Spencer Van Buren 1,629 1,601 28 1.75% 6.87 237.12
East Cleveland CDP Bradley 1,612 1,608 4 0.25% 1.27 1,269.29
Roan Mountain CDP Carter 1,591 1,360 231 16.99% 6.63 239.97
191 Mason Tipton 1,578 1,609 -31 -1.93% 2.09 755.02
192 Decatur Meigs 1,572 1,598 -26 -1.63% 3 524.00
Fall Branch CDP Washington & Greene 1,557 1,291 266 20.60% 4.52 344.47
Mowbray Mountain CDP Hamilton 1,537 1,615 -78 -4.83% 20.23 75.98
193 Englewood  McMinn 1,530 1,532 -2 -0.13% 1.82 840.66
Banner Hill CDP Unicoi 1,529 1,497 32 2.14% 1.37 1,116.06
194 Watertown Wilson 1,529 1,477 52 3.52% 1.31 1,167.18
195 Graysville Rhea 1,523 1,502 21 1.40% 1.17 1,301.71
196 Charlotte Dickson 1,511 1,235 276 22.35% 1.74 868.39
197 Vonore Monroe & Blount 1,502 1,474 28 1.90% 8.98 167.26
198 Celina Clay 1,488 1,495 -7 -0.47% 1.7 875.29
199 Chapel Hill Marshall 1,476 1,445 31 2.15% 3.24 455.56
200 Burns Dickson 1,470 1,468 2 0.14% 3.73 394.10
201 Dover Stewart 1,445 1,417 28 1.98% 3.77 383.29
202 Bruceton Carroll 1,434 1,478 -44 -2.98% 1.89 758.73
203 Tracy City Grundy 1,425 1,481 -56 -3.78% 4.87 292.61
Olivet CDP Hardin 1,413 1,350 63 4.67% 6.02 234.72
204 Baxter Putnam 1,406 1,365 41 3.00% 3.03 464.03
Unionville CDP Bedford 1,396 1,368 28 2.05% 9.03 154.60
205 Crump Hardin 1,395 1,428 -33 -2.31% 13.36 104.42
206 Kimball Marion 1,391 1,395 -4 -0.29% 4.87 285.63
207 Gleason Weakley 1,390 1,445 -55 -3.81% 2.28 609.65
Grimsley CDP Fentress 1,373 1,167 206 17.65% 10.89 126.08
208 New Market Jefferson 1,360 1,334 26 1.95% 4.12 330.10
209 Sneedville Hancock 1,347 1,387 -40 -2.88% 2.3 585.65
210 South Carthage Smith 1,343 1,322 21 1.59% 2.63 510.65
Dodson Branch CDP Jackson 1,342 1,074 268 24.95% 11.11 120.79
211 Tennessee Ridge Houston & Stewart 1,334 1,368 -34 -2.49% 3.7 360.54
212 Powells Crossroads Marion 1,326 1,322 4 0.30% 5.04 263.10
213 Benton Polk 1,317 1,385 -68 -4.91% 3.21 410.28
Fincastle CDP Campbell 1,315 1,618 -303 -18.73% 3.65 360.27
Wildwood CDP Blount 1,314 1,098 216 19.67% 2.49 527.71
214 Troy Obion 1,285 1,371 -86 -6.27% 1.49 862.42
215 Erin Houston 1,283 1,324 -41 -3.10% 4.09 313.69
Falling Water CDP Hamilton 1,277 1,232 45 3.65% 5.54 230.51
216 Cornersville Marshall 1,243 1,194 49 4.10% 6.26 198.56
217 Huntsville Scott 1,234 1,248 -14 -1.12% 3.93 313.99
218 Kenton Gibson & Obion 1,219 1,281 -62 -4.84% 2 609.50
219 Ardmore Giles & Lincoln 1,216 1,213 3 0.25% 4.58 265.50
220 Gordonsville Smith 1,209 1,213 -4 -0.33% 7.06 171.25
221 Rutledge Grainger 1,189 1,122 67 5.97% 4.69 253.52
222 Monteagle Grundy, Marion & Franklin 1,172 1,192 -20 -1.68% 8.55 137.08
223 Red Boiling Springs Macon 1,137 1,112 25 2.25% 1.75 649.71
224 Greenback Loudon 1,119 1,064 55 5.17% 7.94 140.93
225 Rutherford Gibson 1,108 1,151 -43 -3.74% 2.28 485.96
226 Luttrell Union 1,089 1,074 15 1.40% 3.92 277.81
227 Obion Obion 1,072 1,119 -47 -4.20% 1.51 709.93
228 New Hope Marion 1,063 1,082 -19 -1.76% 10.34 102.80
229 Altamont Grundy 1,021 1,045 -24 -2.30% 20.16 50.64
230 Bradford Gibson 996 1,048 -52 -4.96% 1.73 575.72
Bon Aqua Junction CDP Hickman 994 1,230 -236 -19.19% 4.71 211.04
Walnut Grove CDP Sumner 987 864 123 14.24% 4.82 204.77
231 Scotts Hill Henderson & Decatur 985 984 1 0.10% 3.77 261.27
232 Alexandria DeKalb 972 966 6 0.62% 2.02 481.19
Lone Oak CDP Sequatchie 971 1,206 -235 -19.49% 6.47 150.08
Mooresburg CDP Hawkins 966 941 25 2.66% 3.81 253.54
233 Collinwood Wayne 965 982 -17 -1.73% 2.82 342.20
234 Winfield Scott 960 967 -7 -0.72% 6.34 151.42
235 Gainesboro Jackson 945 962 -17 -1.77% 1.55 609.68
236 Tellico Plains Monroe 941 880 61 6.93% 1.94 485.05
237 Henning Lauderdale 935 945 -10 -1.06% 2.39 391.21
238 Friendsville Blount 926 913 13 1.42% 3.01 307.64
Castalian Springs CDP Sumner 923 556 367 66.01% 5.82 158.59
239 Atwood Carroll 921 938 -17 -1.81% 1.85 497.84
240 Wartburg Morgan 905 918 -13 -1.42% 0.96 942.71
241 Linden Perry 903 908 -5 -0.55% 1.01 894.06
242 Sharon Weakley 903 944 -41 -4.34% 1.13 799.12
243 Lobelville Perry 891 897 -6 -0.67% 3.91 227.88
244 Orlinda Robertson 891 859 32 3.73% 6.7 132.99
245 Decaturville Decatur 875 867 8 0.92% 1.66 527.11
246 Rockford Blount 861 856 5 0.58% 3.19 269.91
247 Huntland Franklin 855 872 -17 -1.95% 1.45 589.66
248 Trezevant Carroll 834 859 -25 -2.91% 1.39 600.00
249 Coalmont Grundy 819 841 -22 -2.62% 5.95 137.65
250 Rossville Fayette 818 664 154 23.19% 5 163.60
251 Byrdstown Pickett 815 803 12 1.49% 1.53 532.68
Telford CDP Washington 810 921 -111 -12.05% 2.47 327.94
252 St. Joseph Lawrence 787 782 5 0.64% 3.52 223.58
Lakewood Park CDP Coffee 783 990 -207 -20.91% 5.74 136.41
253 Crab Orchard Cumberland 761 752 9 1.20% 11.11 68.50
254 Bulls Gap Hawkins 724 738 -14 -1.90% 1.29 561.24
255 Niota McMinn 723 719 4 0.56% 2.19 330.14
Summertown CDP Lawrence 721 866 -145 -16.74% 2.01 358.71
256 Bethel Springs McNairy 708 718 -10 -1.39% 2.16 327.78
257 Morrison Warren 707 694 13 1.87% 2.73 258.97
Clarkrange CDP Fentress 701 575 126 21.91% 10.16 69.00
258 Eastview McNairy 697 705 -8 -1.13% 4.89 142.54
259 Philadelphia Loudon 692 656 36 5.49% 1.6 432.50
260 Hollow Rock Carroll 688 718 -30 -4.18% 1.78 386.52
Helenwood CDP Scott 686 865 -179 -20.69% 6.4 107.19
261 Charleston Bradley 674 651 23 3.53% 1.02 660.78
262 Puryear Henry 672 671 1 0.15% 0.92 730.43
Riceville CDP McMinn 671 670 1 0.15% 2.18 307.80
263 Maury City Crockett 665 674 -9 -1.34% 1.13 588.50
264 Palmer Grundy 664 672 -8 -1.19% 4.94 134.41
265 Eagleville Rutherford 663 604 59 9.77% 2.31 287.01
266 Friendship Crockett 659 668 -9 -1.35% 1.3 506.92
267 Adams Robertson 657 633 24 3.79% 2.68 245.15
268 Gallaway Fayette 657 680 -23 -3.38% 6.13 107.18
269 Wartrace Bedford 657 651 6 0.92% 0.69 952.17
270 Middleton Hardeman 650 706 -56 -7.93% 1.91 340.31
271 Allardt Fentress 636 634 2 0.32% 3.9 163.08
272 Trimble Dyer & Obion 622 637 -15 -2.35% 0.65 956.92
Flintville CDP Lincoln 614 627 -13 -2.07% 5.32 115.41
273 Gates Lauderdale 614 647 -33 -5.10% 0.7 877.14
Lyles CDP Hickman 593 734 -141 -19.21% 2.62 226.34
274 Michie McNairy 589 591 -2 -0.34% 5.62 104.80
275 Pittman Center Sevier 570 502 68 13.55% 6.07 93.90
276 Pleasant Hill Cumberland 563 563 0 0.00% 1.55 363.23
277 Doyle White 556 537 19 3.54% 1.31 424.43
278 Sunbright Morgan 545 552 -7 -1.27% 3.78 144.18
279 Petersburg Lincoln & Marshall 543 544 -1 -0.18% 0.94 577.66
280 Elkton Giles 542 578 -36 -6.23% 2.16 250.93
281 Berry Hill Davidson 536 537 -1 -0.19% 0.91 589.01
282 Big Sandy Benton 536 557 -21 -3.77% 0.71 754.93
283 Baneberry Jefferson 530 482 48 9.96% 1.82 291.21
284 Moscow Fayette 528 556 -28 -5.04% 1.24 425.81
285 Bell Buckle Bedford 519 500 19 3.80% 0.6 865.00
286 Minor Hill Giles 519 537 -18 -3.35% 1.72 301.74
287 Saltillo  Hardin 503 303 200 66.01% 0.92 546.74
288 Calhoun McMinn 497 490 7 1.43% 1.09 455.96
289 Cumberland Gap Claiborne 494 494 0 0.00% 0.33 1,496.97
290 Ethridge Lawrence 480 465 15 3.23% 1.17 410.26
291 Ducktown Polk 476 475 1 0.21% 2.63 180.99
Petros CDP Morgan 473 583 -110 -18.87% 3.94 120.05
292 Gilt Edge Tipton 468 477 -9 -1.89% 2.73 171.43
293 Beersheba Springs Grundy 467 477 -10 -2.10% 4.91 95.11
294 Gadsden Crockett 462 470 -8 -1.70% 1.09 423.85
295 Guys McNairy 462 466 -4 -0.86% 11.7 39.49
296 Henry Henry 462 464 -2 -0.43% 1.45 318.62
297 Townsend Blount 444 448 -4 -0.89% 2.17 204.61
Cottontown CDP Sumner 439 367 72 19.62% 3.5 125.43
298 Baileyton Greene 434 431 3 0.70% 1.68 258.33
Pelham CDP Grundy 428 403 25 6.20% 16.64 25.72
299 Ridgeside Hamilton 426 390 36 9.23% 0.17 2,505.88
300 Stanton Haywood 422 452 -30 -6.64% 0.51 827.45
301 Burlison Tipton 408 425 -17 -4.00% 1.08 377.78
302 Hornbeak Obion 389 424 -35 -8.25% 0.7 555.71
303 Clarksburg Carroll 386 393 -7 -1.78% 2.02 191.09
304 Williston Fayette 383 395 -12 -3.04% 1.62 236.42
305 Gibson Gibson 379 396 -17 -4.29% 0.61 621.31
306 Vanleer Dickson 376 395 -19 -4.81% 0.65 578.46
307 Sardis Henderson 371 381 -10 -2.62% 2.4 154.58
308 Dowelltown DeKalb 369 355 14 3.94% 0.79 467.09
Chesterfield CDP Henderson 366 469 -103 -21.96% 7.68 47.66
Darden CDP Henderson 364 399 -35 -8.77% 8.39 43.38
309 Woodland Mills Obion 364 378 -14 -3.70% 1.23 295.93
New Deal CDP Sumner 352 368 -16 -4.35% 1.87 188.24
310 Watauga Carter & Washington 350 458 -108 -23.58% 0.81 432.10
Andersonville CDP Anderson 347 472 -125 -26.48% 1.62 214.20
Fairgarden CDP Sevier 347 529 -182 -34.40% 3.38 102.66
311 McLemoresville Carroll 345 352 -7 -1.99% 2.58 133.72
312 Toone Hardeman 339 364 -25 -6.87% 1.05 322.86
313 Copperhill Polk 333 354 -21 -5.93% 1.87 178.07
Flat Top Mountain CDP Hamilton 331 422 -91 -21.56% 17.23 19.21
314 Parker's Crossroads Henderson 330 330 0 0.00% 3.73 88.47
Iron City Lawrence & Wayne 328 328 0 0.00% 0.93 352.69
Walterhill CDP Rutherford 326 401 -75 -18.70% 3.01 108.31
Ooltewah CDP Hamilton 323 687 -364 -52.98% 0.92 351.09
315 Ramer McNairy 318 319 -1 -0.31% 1.71 185.96
316 Rives Obion 316 326 -10 -3.07% 0.35 902.86
317 Liberty DeKalb 315 310 5 1.61% 1.12 281.25
318 Cedar Hill Robertson 310 314 -4 -1.27% 0.69 449.28
Bethpage CDP Sumner 309 288 21 7.29% 1.33 232.33
319 Garland Tipton 306 310 -4 -1.29% 0.58 527.59
Hillsboro CDP Coffee 305 450 -145 -32.22% 4.12 74.03
Bowman CDP Cumberland 301 302 -1 -0.33% 2.29 131.44
320 Cumberland City Stewart 300 311 -11 -3.54% 4.94 60.73
321 Finger McNairy 295 298 -3 -1.01% 1.53 192.81
322 Lynnville Giles 295 287 8 2.79% 0.33 893.94
323 Grand Junction Hardeman & Fayette 279 325 -46 -14.15% 1.18 236.44
324 Hornsby Hardeman 275 303 -28 -9.24% 1.18 233.05
325 Braden Fayette 273 282 -9 -3.19% 3.83 71.28
Fairfield CDP Sumner 271 131 140 106.87% 0.99 273.74
326 Stantonville McNairy 267 283 -16 -5.65% 1.11 240.54
327 Yorkville Gibson 266 286 -20 -6.99% 1.42 187.32
328 Milledgeville McNairy, Chester & Hardin 265 265 0 0.00% 1.61 164.60
329 Auburntown Cannon 264 269 -5 -1.86% 0.57 463.16
330 Parrottsville Cocke 262 263 -1 -0.38% 0.74 354.05
Elgin CDP Scott 261 282 -21 -7.45% 1.94 134.54
Walnut Grove CDP Hardin 259 396 -137 -34.60% 5.76 44.97
331 Centertown Warren 247 243 4 1.65% 0.94 262.77
Oak Grove CDP Sumner 245 231 14 6.06% 1.28 191.41
Walland CDP Blount 240 259 -19 -7.34% 1.52 157.89
Bransford CDP Sumner 217 170 47 27.65% 4.03 53.85
332 Oakdale Morgan 217 212 5 2.36% 0.83 261.45
333 Samburg Obion 207 217 -10 -4.61% 0.6 345.00
334 Mitchellville Sumner 201 189 12 6.35% 0.52 386.54
Graball CDP Sumner 196 236 -40 -16.95% 2.01 97.51
Eva CDP Benton 191 293 -102 -34.81% 1.99 95.98
335 Enville Chester & McNairy 190 189 1 0.53% 1.45 131.03
336 Slayden Dickson 184 178 6 3.37% 1.34 137.31
Robbins CDP Scott 180 287 -107 -37.28% 1.75 102.86
Wrigley CDP Hickman 174 281 -107 -38.08% 0.96 181.25
337 Medon Madison 163 178 -15 -8.43% 0.97 168.04
338 Normandy Bedford 148 141 7 4.96% 0.23 643.48
339 La Grange Fayette 135 133 2 1.50% 1.81 74.59
340 Viola Warren 133 131 2 1.53% 0.17 782.35
341 Orme Marion 113 126 -13 -10.32% 4.14 27.29
342 Silerton Hardeman & Chester 102 111 -9 -8.11% 0.66 154.55
343 Hickory Valley Hardeman 95 99 -4 -4.04% 0.33 287.88
344 Saulsbury Hardeman 93 81 12 14.81% 0.36 258.33
345 Cottage Grove Henry 88 88 0 0.00% 0.19 463.16

Annual Estimates of the Resident Population: April 1, 2010 to July 1, 2016
Source: U.S. Census Bureau, Population Division
Release Date: May 2017.

Tennessee Mortgages

As of 2017 the conforming loan limit across the United States is set to $424,100, with a ceiling of 150% that amount in areas where median home values are higher. Local affordability makes the $424,100 ceiling apply across most the state for single unit homes. Dual unit homes have a limit of $543,000, triple unit homes have a limit of $656,350 & quadruple unit homes have a limit of $815,650. People buying properties in the Nashville metro areas have higher conforming mortgage thresholds.

County Metropolitan Designation 1 Unit Limit 2 Unit Limit 3 Unit Limit 4 Unit Limit
Cannon Nashville-Davidson--Murfreesboro--Frank $466,900 $597,700 $722,500 $897,900
Cheatham Nashville-Davidson--Murfreesboro--Frank $466,900 $597,700 $722,500 $897,900
Davidson Nashville-Davidson--Murfreesboro--Frank $466,900 $597,700 $722,500 $897,900
Dickson Nashville-Davidson--Murfreesboro--Frank $466,900 $597,700 $722,500 $897,900
Hickman Nashville-Davidson--Murfreesboro--Frank $466,900 $597,700 $722,500 $897,900
Macon Nashville-Davidson--Murfreesboro--Frank $466,900 $597,700 $722,500 $897,900
Maury Nashville-Davidson--Murfreesboro--Frank $466,900 $597,700 $722,500 $897,900
Robertson Nashville-Davidson--Murfreesboro--Frank $466,900 $597,700 $722,500 $897,900
Rutherford Nashville-Davidson--Murfreesboro--Frank $466,900 $597,700 $722,500 $897,900
Smith Nashville-Davidson--Murfreesboro--Frank $466,900 $597,700 $722,500 $897,900
Sumner Nashville-Davidson--Murfreesboro--Frank $466,900 $597,700 $722,500 $897,900
Trousdale Nashville-Davidson--Murfreesboro--Frank $466,900 $597,700 $722,500 $897,900
Williamson Nashville-Davidson--Murfreesboro--Frank $466,900 $597,700 $722,500 $897,900
Wilson Nashville-Davidson--Murfreesboro--Frank $466,900 $597,700 $722,500 $897,900

Home buyers who are borrowing more than the above amounts will likely need to obtain a jumbo mortgage. Jumbo loans typically have a slightly higher rate of interest than conforming mortgages, though spreads vary based on credit market conditions.

There are two types of mortgages favored in Tennessee. Fixed-rate mortgages, (FRMs), include principle and interest in the monthly payment amount and are constant throughout the repayment period. Adjustable-rate mortgages (ARMs), include principle and interest that adjust periodically throughout the repayment period. Both FRMs and ARMs are available in various lengths of time. FRMs and ARMs can be first mortgages, second mortgages, or refinance (HELOC) loans.

Tennessee fixed-rate mortgages are based upon many factors like inflation, and are largely dependent upon the individual(s) asking to borrow the money; lenders look at the borrower’s credit score, his or her employment situation, and other financial considerations such as the potential borrower’s debt to income ratio. Borrowers who are able to pay more than the FRMs set monthly payments can reduce their debt faster, shorten the repayment period, and/or lower their monthly mortgage payments.

Adjustable-rate mortgages adjust periodically based upon the circumstances of the loan agreement. For instance, an ARM that adjusts on a yearly basis has an interest rate that will change every year. Because of this, the mortgage payment amount due will change each year. The advantage of an ARM is that sometimes the payment will be low, even substantially lower, than at other times or than if it had been a fixed rate mortgage. The disadvantage to an ARM is that it is unpredictable, fluctuating in response to market conditions well out of the borrower’s control. Sometimes, the mortgage language will cap the interest rate adjustment once it reaches a certain rate. This is beneficial because it sets a ceiling for how much the borrower will pay if the economic conditions tank.

A primary mortgage is the first or main mortgage placed on a property; a second mortgage is another mortgage placed on a property that has a primary mortgage. These mortgages are also known as home equity loans (HELOCs), and borrowers usually take them out to make home and/or property improvements.

Refinance mortgages pay off first and/or second mortgages in situations where the borrower can get a lower rate, resulting in lowering their monthly payments or giving them cash they need to pay off debt.

USDA loans can help people with low incomes in rural parts of the state qualify for a subsidized low-interest loan.

Natural Disasters

Flood Insurance

Much of the state of Tennessee has a low to very low risk of flooding, with a few counties having higher risk levels. Here are counties where flooding risk is above very low.

  • Low Flooding Risk: Anderson, Campbell, Claiborne, Clay, Crockett, DeKalb, Fayette, Hawkins, Hickman, Lawrence, Lewis, Macon, Madison, Maury, Monroe, Overton, Roane, Stewart, Sullivan, Sumner, Tipton, Washington, Weakley, White, Williamson
  • Moderate Flooding Risk: Bedford, Benton, Blount, Cannon, Cheatham, Cocke, Davidson, Dyer, Franklin, Gibson, Giles, Hamilton, Haywood, Henry, Houston, Humphreys, Jackson, Jefferson, Lake, Lauderdale, Marion, Marshall, McMinn, McNairy, Meigs, Obion, Polk, Rhea, Rutherford, Scott, Sequatchie, Sevier, Smith, Trousdale, Wilson
  • High Flooding Risk: Hardin, Wayne
  • Very High Flooding Risk: Decatur, Perry, Warren

Homeowner's insurance policies typically do not cover flooding.

Home buyers with mortgages in high-risk areas are required to buy flood insurance. Most flood insurance policies are sold by the United States federal government through The National Flood Insurance Program. Under-priced flood insurance in high-risk areas act as a subsidy to wealthy homeowners.

The NFIP does not charge nearly enough to cover the expected costs of its liabilities. The assessments are not sufficient to build any buffer to cover an extraordinary year, such as what occurred with Hurricane Katrina in 2005 or Hurricane Sandy in 2012. Because homeowners don€™t incur the full cost of building in a flood zone we end up with more houses there than if homeowners incurred the full cost of the flood risk, which exacerbates the government€™s costs in the next disaster.

Typically, homes built after 2002, when building code regulations tightened, are subject to lower insurance rates than older homes. On the other hand, homes without hurricane straps, with roofs that do not meet current standards for wind, with older plumbing or with outdated electrical systems may be difficult €“ or very expensive €“ to insure.

Homeowners who live in lower risk areas & are not required to purchase flood insurance heavily cross-subsidize homeowners who are in areas where floods are more common.

Earthquakes

Most of Tennessee has a very low earthquake risk. The corner of the state near where Arkansas, Illinois, Indiana, Kentucky, Tennessee, and Missouri converge there is a fault line which leads to moderate to high earthquake risk. The eastern portion of the state near Chattanooga & Knoxville has a parallel line where there is a low to moderate earthquake risk. Here are the counties with an earthquake risk above very low.

  • low risk: Anderson, Benton, Bledsoe, Campbell, Carroll, Carter, Claiborne, Cocke, Fayette, Greene, Hamilton, Hancock, Hawkins, Johnson, Madison, Madison, Marion, Meigs, Morgan, Rhea, Roane, Sequatchie, Stewart, Sullivan, Unicoi, Union, Washington
  • moderate risk: Blount, Bradley, Crockett, Dryer, Gibson, Grainger, Hamblen, Haywood, Henry, Jefferson, Knox, Lauderdale, Loudon, McMinn, Monroe, Obion, Polk, Sevier, Shelby, Tipton, Weakley

high risk: Lake

Standard rental and homeowner insurance policies typically do not cover earthquake damage, though they usually cover losses caused by fires which resulted from an earthquake. You can supplement your homeowner's insurance with an earthquake policy.

Wildfires

The risk of wildfires is considered moderate in the eastern part of the state. Fire damages from wildfires & other types of fires are typically covered in most homeowner's insurance policies. If you own expensive items you may want to keep an up-to-date household inventory list which lists specific valuables, such as fine art & jewelry.

Tornadoes

Much of the state is considered to have a moderate tornado risk, with risks being higher in the central parts of the state near the Alabama and Kentucky borders. A basic homeowners policy should cover financial damages from tornadoes.

Hail

Hail damage is not uncommon across the state. Damage from hail is typically covered by home insurance policies.

Foreclosures

Tennessee, a Non-Recourse State

Tennessee is one state that does not allow lending institutions to go after borrowers who default on mortgages. This means that borrowers are not held legally responsible as individuals for the outstanding amount of debt that went bad; this is because, in most instances, the loan was a secured loan. Secured as in the borrower had to give something as collateral for the loan; usually this is the property being mortgaged. That way, if the borrower defaults on the loan, the lender can take the property and that is the end of it; the lender cannot garnish wages, place liens, or take other legal action against the borrower(s), as they can in recourse states.

Tennessee Foreclosure Processes

Tennessee foreclosures can take place inside as well as outside of the courtroom. The wording of the mortgage contract will determine which type of process must occur.

Foreclosures handled inside the court system allow the court to decide the amount in default, and gives the borrower a short amount of time to repay that decided amount in order to keep the property. If the borrower cannot pay the appointed amount in full, then the court puts the property up for sale. This process generally takes 30 days from the date the court first hears the case.

Those foreclosures handled outside the confines of the courtroom must contain mortgages that include “Power of Sale” clauses. These articles allow lenders to foreclose on delinquent by filing a “Notice of Default” with the county. Then the borrower has the opportunity to bring the account current and stop the foreclosure process at any point before the foreclosure sale takes place.

Tennessee is a great place to live and work. It affords a great number of opportunities to its residents, including beautiful scenery, friendly people, amazing culture, and fascinating history. The real estate situation in Tennessee is stable, with properties available for virtually every buyer. The state has a wide variety of mortgage products available to get potential homebuyers into their dream houses in some of the fastest growing, most popular cities in the country. In the event that things go wrong and those mortgages go into default, Tennessee has laws in place to allow the lender the chance to recoup their investment as well as ones that attempt to allow the borrower to keep their home.

If you are in the market for a beautiful home in a breathtaking state, Tennessee is the place to be!