Franklin, TN Housing Market Overview
Just south of Nashville is the charming city of Franklin, Tennessee located within Williamson County. A famous landmark of the American Civil War, Franklin is home to two historical sites dedicated to the 1864 Battle of Franklin, including the Carter House and Carnton Plantation--which also houses the McGavock Confederate Cemetery. Additionally, the 1858 Lotz House displays an impressive collection of 19th century furniture. Known for its many galleries, antique shops, and restored Victorian houses, Franklin, Tennessee is a beautiful city within the Nashville metropolitan area and Middle Tennessee.
At Amy Jackson Smith Real Estate, our team is comprised of professionals who are experts in luxury real estate in Nashville, surrounding areas, and beyond. Are you looking for a dream home in the comfort of the suburbs with easy-access to city attractions? Look no further than Franklin, Tennessee. With a population counted at 80,914, Franklin gives residents and visitors alike quaint country life charm while remaining a stone's throw away from your country music capital.
Ready to find the best deal on your Franklin, Tennessee real estate investment? Call Amy Jackson Smith today at 615.300.1025 for true blue real estate in Nashville and Middle Tennessee.
Here are some statistics to give you a quick snapshot of the Franklin, Tennessee real estate market!
- Total # Of Available Properties: 1,182
- Active Listings: 736
- Available Condos: 39
- Foreclosures: 2
- Median Listing Price: $674,900
- Median Days On The Market: 52
- Average Home Size: 3,208 sq. ft.
- Median Price Per Sq. Ft.: $212
2019 Franklin, TN Real Estate Market Trends
This year, home prices throughout Franklin, Tennessee have seen a steady increase. Paired with a rise in inventory, this makes the housing market perfect for buyers and sellers alike. At Amy Jackson Smith Real Estate, we’ve compiled additional data pertaining to current 2019 real estate trends in the city of Franklin below.
- Average Price Of 1 Bedroom Homes: $243,000
- Average Price Of 2 Bedroom Homes:$347,000
- Average Price Of 3 Bedroom Homes: $299,700
- Average Price Of 4 Bedroom Homes: $904,500
- 2019 Home Price Growth Rate: 0.9%
- 2019 Inventory Growth Rate: 10.6%
- August 2019 Median List Price: $599,000
- August 2019 Average Sale/List: 98.7%
- August 2019 Median Sale Price Per Sq. Ft.: $202
- August 2019 Average # Of Offers: 1
- August 2019 Average Median Sale Price: $515,000
- Average Down Payment: 20.0%
- August 2019 Average Median Sale Price Per Sq. Ft.: $189
- August 2019 # Of Homes Sold: 267
2019-2020 Franklin, TN Home Prices & Values
Since 2018, home values in Franklin, Tennessee have been consistently rising, and real estate experts project steady increases through 2020 for homeowners and home buyers. Overall, the city can be categorized as a warm seller’s market. Here is the 1 year forecast for the Franklin, Tennessee housing market.
- 2019 Median Home Value: $472,100
- 2018-2019 Home Value Growth: 4.8%
- 2019-2020 Home Value Growth: 2.2%
- Franklin Median List Price Per Sq. Ft.: $205
- Nashville Median List Price Per Sq. Ft.: $165
- Median List Price: $569,075
- Median Selling Price: $488,900
- Franklin Median Rent Price: $2,350
- Nashville Median Rent Price: $1,690
- 2019-2020 Average Days On Market: 59
- 2019 Franklin Negative Equity Homes: 4.0%
- 2019 U.S. Negative Equity Homes: 8.2%
- 2019 Franklin Delinquent Mortgages: 0.4%
- 2019 U.S. Delinquent Mortgages: 1.1%
- 2019 Listings w/ Price Cuts: 17%
Demographics
$85,375
Median Household Income
The Best Neighborhoods In Franklin, Tennessee
With so much to offer, Franklin is the perfect city for home buyers who are looking for life in the suburbs near the excitement of Nashville. Home to a list of famous musicians and notable public figures such as the current governor of Tennessee, Bill Lee, there are plenty of opportunities for luxury and upscale real estate as well as homes for first-time buyers and families. The following are Franklin, Tennessee’s most popular neighborhoods and their median home values!
- McLemore: $629,000
- Seward Hall: $529,500
- Goose Creek: $461,600
- Carnton: $414,500
- West Harpeth: $399,900
- Berry’s Chapel: $396,700
- McEwen: $364,700
- Central Franklin: $295,700
Franklin, TN Job Market & Economic Growth Rate
Due to its proximity to Nashville, Franklin, Tennessee is home to a plentitude of job and career opportunities within its city limits and the greater metropolitan area. Here are some helpful statistics that show the current employment rate and economic trends in Franklin.
- 2019 Franklin, TN Unemployment Rate: 2.4%
- 2019 U.S. Unemployment Rate: 3.9%
- 2019 Franklin, TN Job Market Increase: 2.4%
- 10-Year Projected Job Growth:53.4%
- 2019 Average Resident Income:$40,447
- 2019 Median Household Income: $81,432
Top Franklin, TN Employers:
- Community Health Systems
- Nissan North America
- Williamson Medical Center
- Optum
- Mars Petcare U.S.
- Ford Motor Credit
- Verizon Wireless
- Lee Company
- Vanderbilt University Medical Center
- Evicore Healthcare
Top Franklin, TN Industries
Franklin is the ideal town for young professionals and families to settle down and establish themselves. Here is a breakdown of some of the leading industries of the city!
- Agriculture, Forestry, Fishing, Hunting, & Mining: 0.4%
- Construction: 3.1%
- Manufacturing: 8.4%
- Wholesale Trade: 3.2%
- Retail Trade: 10.5%
- Transportation, Warehousing, & Utilities: 2.3%
- Information Technology: 3.7%
- Finance & Insurance, Real Estate & Rental & Leasing: 10.8%
- Professional, Scientific, Management, Administrative, & Waste: 15%
- Educational Services, Healthcare, & Social Services: 24.4%
- Arts, Entertainment, Recreation, Accommodation, & Food Services: 10.1%
- Public Administration: 2.8%
- Other & Miscellaneous: 5.4%
Top-Rated Schools In Franklin, Tennessee
Located within Williamson County, Franklin is home to some of the best public and private schools in the entire country. You and your family can rest assured that education is a top priority in Franklin for K-12 and beyond! Here is a list of all the local schools, categorized by school type and education level.
- Public Elementary Schools:
- Clovercroft Elementary School
- Pearre Creek Elementary School
- Hunters Bend Elementary School
- Trinity Elementary School
- Walnut Grove Elementary School
- Winstead Elementary School
- Moore Elementary School
- Franklin Elementary School
- Johnson Elementary School
- Freedom Intermediate School
- Liberty Elementary School
- Hillsboro Elementary & Middle School
- Poplar Grove K-4
- Private Schools:
- Battle Ground Academy
- Benton Hall School
- Classical Academy of Franklin
- Franklin Christian Academy
- Grace Christian Academy
- Heritage Covenant School
- Montessori School of Franklin
- New Hope Academy
- St. Matthews Catholic School
- Willow Hall Academy
- Public Middle Schools:
- Grassland Middle School
- Hillsboro Elementary & Middle School
- Fred J. Page Middle School
- Freedom Middle School
- Poplar Grove 5-8
- Public High Schools:
- Franklin High School
- Middle College High School
- Fred J. Page High School
- Centennial High School
- Higher Education:
- Belmont University
- Columbia State Community College
- Lipscomb University
- University of Phoenix
- Williamson College
- Vanderbilt University
- Fisk University
Your Go-To Franklin, TN Real Estate Professional
Are you still curious about the Franklin, Tennessee real estate market? As a Nashville and Middle Tennessee native and expert, Amy Jackson Smith and her top-rated real estate team have all the answers you need for purchasing a home and moving to Franklin, Tennessee. For any additional inquiries or to get started on the home buying or selling process, contact us directly by calling 615.300.1025.