Tennessee · as of September 2026

What counts as luxury real estate in Tennessee

The convention this site uses

In Tennessee, this site treats homes at $1M and above as luxury. That is our own fixed band, set so the covered markets are the ones where the top of the market actually trades at that level. It is not a loan limit and it is not a median; the medians below are the middle of each market, and luxury inventory trades well above them. The rule and its reasoning are on the methodology page.

Tennessee's luxury markets by home value

Zillow Home Value Index, typical middle-tier home, latest month.

Market	Median value	YoY	Ranked agents
Lookout Mountain	$1,065,000	+6.3%	10
Brentwood	$850,000	—	10
Franklin	$680,000	—	11
Nashville	$430,000	—	13
Collierville	$406,000	—	10
Knoxville	$315,000	—	12
Chattanooga	$310,000	—	10
Germantown	$280,000	—	10
Memphis	$215,000	—	10

What changes at this price in Tennessee

Each fact links to the statute or agency that says so. Facts we could not verify against an official source are left out rather than guessed.

Transfer and mansion taxes: Tennessee charges a realty transfer tax of $0.37 per $100 of consideration, which is 0.37 percent of the price, paid when the deed is recorded. Source
Agency and dual agency: Tennessee treats a licensee as a facilitator with no agency duties unless a written agency agreement is signed, and disclosed dual agency or designated agency is permitted only with the written consent of both parties. Source
Seller disclosure: Tennessee sellers of residential property with one to four units must deliver the Residential Property Condition Disclosure form before a purchase contract is signed, or the buyer may accept a disclaimer or waiver in writing. Source
State estate or inheritance tax: Tennessee levies no state estate tax and no inheritance tax, so only the federal estate tax applies to a large estate. The Tennessee inheritance tax was repealed for deaths on or after January 1, 2016. Source