Tennessee Home Values Rising, but Slowly
MURFREESBORO, Tenn. (WMOT) -- A new report suggests that home values are rising far more slowly in Tennessee than in much of the nation.
An analysis of home values by the Business and Economic Research Center at Middle Tennessee State University shows that Tennessee home prices rose by 0.9 percent in the past year. Nationwide, home values rose at more than twice that rate.
However, some Tennessee markets did manage to match or exceed the national average. The Jackson housing market saw home values rise by more than three percent year-over-year. Home prices rose by 2.6 percent in the Nashville market, which includes Rutherford and Williamson Counties.
Home values are still falling in some parts of Tennessee. The Clarksville, Cleveland, and Memphis markets all saw home prices fall by more than one percent in the last quarter alone.