A closer look at Tennessee’s housing market reveals a story of steady footing, even as Q2 results brought a mix of signals. Across our three major metros, home closings climbed and inventory widened—welcome news for buyers and sellers alike. Knoxville stood out, posting the strongest quarterly and yearly gains. Statewide, home prices remained nearly unchanged in Q2, with a modest ~3% rise over the past year.
Homeowner vacancy rates dipped a bit, and residential construction showed momentum, especially with multifamily permits jumping ~16% and total permits up ~6%. It’s encouraging to see housing-related tax collections grow, too: Real Estate transfer taxes rose about 13% and mortgage tax collections by 25% versus the previous quarter. While mortgage delinquencies increased both quarterly and yearly, foreclosure rates edged down in Q2 and remained just below last year’s levels.
As someone who guides clients through residential and commercial real estate across Middle Tennessee, I keep a close eye on these shifts—because understanding the numbers is key to making informed decisions, whether you’re investing, growing, or finding your next home. My focus is always on helping you navigate this evolving landscape with clarity and confidence.
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