Franklin, TN housing market forecast for 2027: houses vs. condos and townhouses
Pricing November 12, 2026
Pricing November 12, 2026
Franklin's 2027 forecast depends completely on what you're buying.
Franklin's forecast depends entirely on the type of property you want to buy. Single-family homes remain a seller's market likely to keep firming. Condos sit on about 12 months of supply and give buyers real room to negotiate. If you need a detached house, plan to offer close to list price. If a townhouse or condo works, time and negotiating power are on your side.
You're planning to buy or sell in Franklin within the next year, deciding whether to act now, which property type to target, and how hard to negotiate.
Franklin is two markets, and the forecast depends on which property type you're in. The all-homes median sale price recently hit $863,089, up 12.8% year over year. Single-family sales make up most of those transactions and pull that citywide median up.
For the bigger picture, see Franklin Housing Market.
Housing economists and NAR-based standards generally define a balanced market as about five to six months of supply. Under five months favors sellers, and over six favors buyers. Single-family homes at 3.5 months and townhouses at 4.2 months lean toward sellers. Condo supply runs more than three times the single-family level.
Other sites may show different Franklin medians because they use other timeframes, list prices instead of sold prices, or automated value estimates. All figures here reflect Redfin closed sales over the 90 days ending September 30, 2026.
Single-family demand keeps prices rising, while attached homes show more inventory and longer market times. Which side your target sits on shapes your offer price and how long you should expect to wait.
Single-family homes are the firmest part of the market. The forecast points toward further gains while supply stays well under balanced levels. The median sale price rose 14.8% year over year, and about one in five sold above asking last quarter. Waiting for a dip means betting against the current data.
Paying above list carries appraisal risk: if the appraisal comes in short, you cover the gap in cash. Ask your lender how they handle an appraisal gap before you write an offer.
Townhouses are Franklin's cheapest space per square foot, at a median of $316. Yet they sit on the market a median of 82 days. That makes them a strong option if square footage for your dollar is the priority.
Slow market time doesn't mean discounted prices. Townhouses still close near full asking, so the extra time buys you patience and better terms, not a dramatic price cut. HOA dues add to the monthly cost. Ask the association for current dues and any planned special assessments before you get attached to a unit.
Condos are the one segment where prices fell and supply is deep, making them Franklin's only true buyer's market. The median sale price dropped 6.5% year over year, based on 20 condo sales, so treat this as directional rather than a confirmed trend. A Franklin condo also costs nearly as much per square foot as a detached house, at $323. The lower sticker price mostly reflects less space.
The deep supply that helps you buy will work against you when you sell. Check whether the complex is FHA-approved on HUD's condo lookup, because that affects your future buyer pool. Also ask the HOA for its reserve study and current dues.
Match your strategy to the property type. A blanket approach will likely make you overpay for a condo or lose out on a detached house.
Plan to offer near list price and move quickly. On a $950,000 list price, the single-family sale-to-list ratio implies a typical close near $932,000. That's about $18,000 below list, and even less on a well-priced home.
The 50-day median hides a sharp split: the best-priced homes go much faster and often above list. Waiting on a strong listing usually means losing the house.
The typical Franklin condo sat on the market close to three months before selling. A listing that has sat for months is a good candidate for seller-paid closing costs, a rate buydown, or repairs. Ask for those rather than a headline price cut. On a $440,000 condo, the 97.2% sale-to-list ratio implies about $12,000 off list at the median. Concessions may be worth more to you than a straight price reduction.
Single-family owners can price firmly, while condo owners face real competition from other listings.
Price from recent comparable sales per square foot, not from the year-over-year headline. Overpricing in a rising market still costs days, and a stale listing invites low offers. A well-priced home is the one that draws above-list offers. Buyers' appraisals won't follow you above the comps, and a contract above appraised value can easily be renegotiated down before closing.
Franklin had about four condos for sale for every one that sold last quarter, with 80 active listings against just 20 sales. Price to stand out on day one and budget for concessions. Townhouse sellers are in a firmer spot. Still, with only 5.5% selling above list, price at market rather than waiting for a bidding war.
Plan your carrying costs, including your mortgage, HOA dues and utilities, for a sale that may take a full season. Expect a buyer who knows they have the upper hand.
New construction adds supply. Per the City of Franklin's Building and Neighborhood Services construction statistics, monthly single-family residential building permit counts early in 2026 ranged from 12 in February up to 37 in May. Local employment trends also drive demand. Mortgage rates remain the biggest outside variable affecting buyer purchasing power.
The number worth watching is months of supply for your property type. Single-family supply climbing toward six months, or condo supply falling toward it, would change the advice on this page.
If you need a detached house, read the single-family profile and offer strategy. If a townhouse or condo would work, compare those profiles first. If your budget is built around square footage, start with townhouses, which give the most space per dollar.
If you can wait two to three months without losing a rate lock or lease, the condo and townhouse offer strategy shows how to turn time on market into negotiating power. Sellers should go straight to the seller section for their property type, because the pricing advice runs in opposite directions for houses and condos. Bill Diebenow can pull type-specific comparable sales for a home you're considering or listing, and buyers relocating here can review the moving-to-Franklin and cost-of-living pages for more context.
Franklin's all-homes median sits well above the typical state average, driven by strong single-family values and high demand in Williamson County. Tennessee Realtors publishes the current statewide median for a direct comparison.
It's an informal guideline with no single agreed definition. One common version says to keep housing costs at or below 30% of gross monthly income, save a cash cushion, and cap the home price at three times annual household income. Under that version, a $600,000 purchase implies about $200,000 of income. Another version means three months of emergency savings, three months of mortgage payments saved, and comparing at least three similar homes. Either way, it's a rule of thumb, not lending advice.
Single-family homes carry a median of $969,613, townhouses $615,007 and condos $435,955 in recent sales. Prices vary widely by size and location.
Single-family homes made up about 78% of recent sales, pulling the citywide median up. Population growth also sustains demand: Williamson County reached an estimated 272,061 residents by July 2025, up 9.8% from the 2020 census.
Rate forecasts change frequently. Fannie Mae's Economic and Strategic Research group publishes the latest 30-year fixed projections. Even a half-point drop noticeably lowers the monthly payment on a $500,000 loan, and lower rates typically bring more buyers and more competition.
It depends on the next county reappraisal and the tax rate adjustments that follow it. Williamson County reappraises every four years. The last reappraisal was completed in 2025, so the next is scheduled for 2029. You can look up your property's assessed value on the county assessor site.
The FY2026 Fair Market Rent for the broader metro area is $1,730 for a two-bedroom and $2,211 for a three-bedroom. Market asking rents in Franklin often run higher. Compare those costs against the mortgage payment for your target property type.
Buyers generally face less competition in late fall and winter. Sellers typically see the most foot traffic in spring and early summer, when buyers want to move before the new school year.
Tennessee real estate tips and insights.
Middle TN
Bill Diebenow | November 12, 2026
Pricing
Bill Diebenow | November 12, 2026
Home
Bill Diebenow | November 12, 2026
Home
Bill Diebenow | November 12, 2026
Home
Bill Diebenow | November 12, 2026
Search
Bill Diebenow | November 12, 2026
Bill's real estate experience spans residential and commercial transactions as an agent, buyer, seller, investor, tenant, landlord, and cross-county corporate relocation. Bill looks forward to understanding your needs, building your trust, and helping you successfully sell your existing home, find your new home, or add to your real estate portfolio.
Bill Diebenow
3990 Hillsboro Pike Suite 320 Nashville TN 37215