Franklin, Tennessee Housing Market

How much can you negotiate in Franklin?

Only 41 out of every 100 homes for sale have found a buyer. The other 59 are still waiting. Your offer may be the only one on the table. About 1 in 4 sellers has already dropped their price. Each one has learned their first price was too high. Start below their new price, not their old one.

A typical Franklin home takes 65 days to find a buyer. Half of them take even longer. That is 12% faster than a year ago. Those sellers are paying to own a house they want to sell. Search for homes listed 90+ days ago. There are 131 homes for sale in Franklin. That is 10.9 times the tightest month on record, but below the peak of 148. Supply is shrinking against last year.

What to do about it

• Search Franklin homes listed 90+ days ago that have already cut their price.
• Offer below the reduced price.
• Keep your inspection and financing contingencies.
• Ask the seller to pay closing costs.
• You can lose a few offers here and still win.

Is now a good time to buy in Franklin?

Asking prices are at their highest point on record. You are buying at the top. Underwrite it that way. Prices are rising again. Every month you wait costs money. The question is no longer when. It is which house. Franklin prices have risen in 92 of the last 111 months. Drops here have been short and shallow. Buying in a slow month has rarely hurt a long hold.

This market is turning. Which way is not settled yet. Check the monthly numbers above before you commit.

Who will rent from you in Franklin?

In Franklin, 35 out of every 100 households rent. Most own their home. The renter share is shrinking. Five years ago it was 36 in 100. Renter households average 2.1 people. Singles and couples rent here. Two bedrooms beat four.

Households grew 13% in five years. The housing stock grew 10%. Demand is outrunning supply. 7.8% of homes sit empty. That is normal for a healthy market.

The median Franklin household earns $59,113 a year. Incomes here have grown 3.7% a year since 2019. Home prices have outrun incomes. Locals are being priced out. A typical home costs 5.4 times the median income. That is the national middle. Neither cash flow nor appreciation is free here. A tenant on the median income can pay about $1,478 a month. That is the standard 30% affordability line. Rents above it thin your tenant pool fast.

That is the market, not your address. Run an address through the app to see its rent estimate and cash flow.

What numbers should you underwrite a Franklin deal with?

• Price growth to assume — +7.7%/yr. Franklin has grown about 7.7% a year for five years and for ten. That is a durable trend, not a boom artifact. It is a fair long-run input. Prices fell 7.1% over the last year. That is a timing signal, not a trend.
• Months of carrying cost — 3. A typical home takes 65 days to sell. Budget that long when you exit or refinance.
• Odds you cut your price to sell — 1 in 4. About 25% of homes on the Franklin market right now have already cut their asking price. Assume you are one of them when you sell. Do not underwrite an exit at your asking price.
• Comp on this, not median price — $183/sqft. The average listing runs +11% above the median. Luxury homes skew it. Comp your own size class per sqft.
• Competition when you exit — -4%. That is how much the number of homes for sale shrank in a year. Your resale will face a smaller crowd than today's comps did.
• Price-to-income ratio — 5.4×. A typical home costs 5.4 times the median income. That is the national middle. Neither cash flow nor appreciation is free here. Home prices have outrun incomes. Locals are being priced out.
• Tenant rent ceiling — $1,478/mo. 30% of the median household income of $59,113. Rents above this line shrink your tenant pool fast.

Is Franklin a buyer's or seller's market in 2026?

Yes, if you negotiate. Buyers have the upper hand in Franklin right now. 41 out of every 100 homes for sale have a buyer, 25% of sellers have cut their price, and a typical home takes 65 days to sell.

Are Franklin home prices going up or down?

Asking prices are at their highest point on record. You are buying at the top. Underwrite it that way. Prices are rising again. Every month you wait costs money. The question is no longer when. It is which house.

What price growth should I assume for Franklin?

Assume +7.7% a year. Franklin has grown about 7.7% a year for five years and for ten. That is a durable trend, not a boom artifact. It is a fair long-run input. Prices fell 7.1% over the last year. That is a timing signal, not a trend.

How fast are homes selling in Franklin?

A typical Franklin home takes 65 days to find a buyer. Half of them take even longer. That is 12% faster than a year ago. Those sellers are paying to own a house they want to sell. Search for homes listed 90+ days ago.

Is Franklin a renters' market or an owners' market?

In Franklin, 35 out of every 100 households rent. Most own their home. The renter share is shrinking. Five years ago it was 36 in 100. 7.8% of homes sit empty. That is normal for a healthy market.

What rent can Franklin tenants afford?

A tenant on the median income can pay about $1,478 a month. That is the standard 30% affordability line. Rents above it thin your tenant pool fast. The median Franklin household earns $59,113 a year.