Are Home Prices Rising or Falling in Franklin, TN?
Franklin, a city near Nashville, TN, is seeing home prices grow rapidly. Here's why, and what it could mean if you're looking to buy or sell.
The National Picture
Home prices across the United States rose about 2% year over year in the three months ending August 2026, bringing the national median to roughly $399,000. The typical U.S. household earns about $88,000 a year and spends around 34% of income on housing, down nearly 2 percentage points from last year. About 20% of listings have had a price reduction, there are roughly four months of supply on the market, and homes spend a median of 50 days before going under contract.
Home Prices in the Nashville Area
Across the Nashville metro, the median sale price is about $480,000, essentially flat from a year ago. The typical metro-area household earns around $96,000 and spends about 36% of that on housing, down about 1.5 percentage points from last year. With 5.4 months of supply and homes sitting a median of 64 days, the Nashville market is more balanced than it was a year ago.
Double-Digit Price Growth Outpaces the Metro
Franklin's median sale price climbed 12% from a year ago to $862,929, far outpacing the Nashville metro's flat price trend. About 17% of homes sold above asking, and the typical sale closed at about 98% of list price. Around 30% of listings have had a price cut, and homes sell in a median of 49 days. Within Franklin, the Seward Hall neighborhood saw prices rise 7%, while West Harpeth posted a 19% gain.
Why Are Prices Rising in Franklin?
Supply in Franklin is relatively tight at about 3.6 months, well below the Nashville metro's 5.4 months. Active listings grew about 8% from last year, and new listings rose 9%, but pending sales slipped about 5%. The combination of limited inventory and steady buyer interest has kept upward pressure on prices, even as some sellers have had to cut their asking prices to attract offers.
| Neighborhood | Median Price | Price YoY | Price Drops | Months of Supply |
|---|---|---|---|---|
| Franklin ★ | $862,929 | +12.4% | 30.3% | 3.6 |
| Seward Hall | $914,559 | +6.6% | 30.7% | 4.4 |
| McEwen | $757,634 | +10.1% | 29.5% | 2.9 |
| West Harpeth | $768,329 | +18.9% | 27.8% | 2.4 |
| Goose Creek | $974,530 | +3.8% | 31.5% | 2.5 |
| Berrys Chapel | $659,682 | +3.9% | 34.8% | 3.1 |
Limited to neighborhoods with at least 10 home sales in the period.
All data comes from Redfin and represents a three-month rolling average ending August 2026. This article has been generated, in whole or in part, using generative artificial intelligence (AI) technology, with input from Redfin head of economics research Chen Zhao. While efforts have been made to ensure the accuracy and reliability of this information, you should independently verify all data, facts, and citations contained in this article before relying on it for any purpose. This information is not a substitute for advice from a real estate agent, financial advisor, or other licensed professional. Check the Redfin Data Center for additional in-depth housing market data.
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