Tennessee Farm Houses for Sale - 46 Properties (2024)

FAQs

What does an acre of land go for in Tennessee? ›

The price of an acre can vary depending on location however the median average is $14,400.

Tennessee doesn't have a state income tax. And generally, it has lower property taxes and a lower cost of living than other states, which has attracted everyone from working aged people to retirees, especially those from more expensive cities and coastal areas.

What Are the Requirements to Buy a Home in TN? One of the most important requirements for buying a house in Tennessee is a credit score of at least 640. Your credit score makes homebuying easy by qualifying you for down payment assistance programs and increase your ability to get pre-approved for a loan.

Tennessee law does not require that you have a real estate agent or broker to purchase a home, but you can absolutely benefit from their assistance. Among other things, real estate agents can aid in determining if the price of the house is fair and reasonable.

Generally, Tennessee property owners may designate up to $5,000 worth of their property as a homestead, or $7,500 if it involves more than one debtor.

Hickman County has long been one of the best places in Tennessee, and arguably the country, for individuals and families to start a homestead or CSA market garden.

Con: It might take time to adapt to the humid climate

The climate in Tennessee is humid and subtropical, which can be uncomfortable for some residents. The summers are hot and muggy, and the winters are mild with occasional snow. The weather is pleasant in spring and fall, but you can still expect some humidity.

Tennessee has a lower cost of living than Florida. Depending on what city you move from and to, you can expect to pay less for housing, food and everyday essentials. According to My Life Elsewhere, Tennessee is around 3.1% cheaper than Florida. The most significant cost-saving advantage is housing.

The average cost to build a house in Nashville ranges from $100 to $200 per square foot, depending on factors such as location, design, and material choices.

What credit score do you need to buy a house in Tennessee? ›

Minimum Credit Score - The credit score of everyone on your loan application must be at least 640. If you do not know your credit store, your lender can check for you. If your credit score does not meet the minimum requirement, you can work with a THDA-Approved Counselor to improve your score.

It is usually cheaper to buy a home than build a new one. However, by building your own home you get a brand-new residence, customized to your needs. It costs $261,940 on average to build a home in Tennessee. This figure can add up to $411,940 if you include land costs, excavations, permits, and other expenses.

As expected, starter homes in Nashville are much more affordable than the average home (all price brackets combined; see methodology for details). In order to afford any median-priced home in the area, you'll need to make $124,095 (as of October 2023).

The down payment on a house in Tennessee depends on the type of mortgage you choose. For a conventional loan, you have to put down 20%, whereas for FHA loans you have to put 3.5% money down.

The disclosure statement should include the property address and the age of the home. Disclosure requires a list of amenities included with the sale and their condition. Sellers must report any known defects or malfunctions of structural or mechanical components.

tennessee Farmland Prices

Over the last 20 years, the price of farmland per acre in tennessee has risen by an average of 4.1% per year to $5,000 per acre as of 2019. This represents an increase of $2,610 per acre of farmland over this time period.

From the misty peaks of the Smoky Mountains to the fertile valleys of Middle Tennessee, the state offers a wealth of land investment opportunities. Recent data suggests this interest isn't misplaced. The USDA reports that Tennessee farm real estate values jumped 8.1% in 2023, reaching an average of $4,700 per acre.

The median lot size for new single-family homes is 0.19 acres or 8,276 square feet. That means around five average-sized home lots can fit on one acre. However, if you want to know how many homes can legally fit on one acre where you live, you have to consult your local zoning laws.

Multiply the length (feet) and width (feet) of land to get the area in square feet. Then, convert the area into acres by using the conversion factor of 43560. Divide the area by the conversion factor because 1 acre = 43,560 square feet.