Property Valuation in Franklin, TN: what your home is worth in 2026

Recent sales data from the 90 days ending September 30, 2026, puts the median home price in Franklin, TN, at around $863,000. That citywide number tells a broad story, but it won't help you price a specific house or condo.

Different property types are moving in opposite directions right now, and the assessed value on your property tax bill serves a completely different purpose. Which number you need depends entirely on your plans to sell, refinance, or appeal your county assessment.

Key takeaway

For most Franklin houses, the valuation to trust is a fresh comparative market analysis built on the last 90 days of nearby sales, because single-family values rose sharply over the past year and older estimates lag. Condo owners are in a softer market with far more competing listings, so they should value against what's for sale now. A lender appraisal or the county's assessed value answers different questions regarding your loan and your tax bill.

Who this guide is for

You own a home in Franklin and are deciding when and at what price to sell, refinance, or question your tax assessment, and you need to know which value number to rely on.

What is my home worth in Franklin, TN?

Franklin no longer has a single home-value trend. Single-family medians rose 14.8% year over year, while condo medians fell 6.5% (based on 20 condo sales), even though both property types sell for nearly the same price per square foot: $332 versus $323.

For the bigger picture, see Selling a Home in Franklin.

A per-square-foot rule of thumb hides that split entirely. An estimate pulled a year ago is likely too low for a detached house and too high for a condo. Single-family homes take a median of 50 days to sell; condos take 85 days. Those are different timelines, and sellers should plan accordingly depending on what they own.

Townhouses sit between the two, showing rising prices but taking longer to sell. You can review the exact median prices and market times in the at-a-glance list below.

Subdivision-level comparable sales matter more than citywide medians when pricing a property. You can review the guides to the best neighborhoods and most expensive areas in Franklin to see how different parts of town compare.

Franklin home values at a glance

Based on Redfin data for the 90 days ending September 30, 2026, here's how the local market breaks down:

• Single-family homes (90 days ending Sept. 30, 2026): median sale price $969,613, up 14.8% year over year, 342 sales
• Single-family homes (same window): $332 median price per square foot, 50 median days on market, 98.1% median sale-to-list, 19.3% sold above list, 3.5 months of supply
• Townhouses (90 days ending Sept. 30, 2026): median sale price $615,007, up 10.1% year over year, 75 sales, $316 per square foot
• Townhouses (same window): 82 median days on market, 98% sale-to-list, 5.5% sold above list, 4.2 months of supply
• Condos (90 days ending Sept. 30, 2026), based on only 20 condo sales so treat as directional: median sale price $435,955, down 6.5% year over year, $323 per square foot
• Condos (same window, same 20-sale caution): 85 median days on market, 97.2% sale-to-list, 5% sold above list, 12 months of supply, 80 listings
• All homes (90 days ending Sept. 30, 2026): median sale price $863,089, up 12.8% year over year, 437 sales, $326 per square foot, 55 median days on market
• All homes (same window): 16.3% sold above list, 4 months of supply, 569 listings

Online estimate, CMA, or appraisal: which should you use?

Automated online estimates lean on recent nearby sales to generate a starting point. In Franklin's thin condo market, where only a few dozen units sell each quarter, these algorithms have little data to work with, and the results show it.

A comparative market analysis (CMA) from a real estate agent uses sold and active listings in your specific subdivision, adjusted for condition and updates. This is the right number to use when setting a list price. A CMA built on your subdivision's recent sales gives you an accurate baseline, not a citywide average dressed up as precision.

A lender-ordered appraisal is the only valuation that counts for a loan, a refinance, or private mortgage insurance removal. Appraisals can come in under the contract price, which means the buyer and seller have to adjust their plans.

How Williamson County's assessed value differs from market value

Franklin property is assessed by Williamson County, not Franklin County. The county appraises properties at its specific reappraisal date, which last occurred in 2021 and was scheduled again for 2025.

The Williamson County Commission recently approved moving to a 3-year reappraisal cycle, meaning the next reappraisal after 2025 is expected around 2028. In Tennessee, residential property is taxed on 25% of the county's appraised value, so the "assessed value" on your tax notice was never designed to function as a sale price.

You can look up your property record using the Williamson County Property Assessor's online tool to confirm your square footage and bedroom count. For an explanation of the local property tax rates and math, the cost of living guide covers the details.

The county's appraised value is fixed at the last reappraisal and can trail the market by years. That lag makes it useless for setting a list price and weak as a negotiating point with a buyer.

How Franklin's market turns a valuation into a list price

Single-family homes in Franklin currently have 3.5 months of supply, and sales close at a median 98.1% of the list price. About 19.3% of detached houses sell above asking.

Sellers should price at value. Overpricing in hopes of a bidding war usually produces a price reduction, not an extra offer. For a hypothetical example: if a CMA values a house near $800,000 and the seller lists it at $815,000, selling at that median sale-to-list ratio lands the final price around $799,500.

Attached homes move on a different timeline. Townhouses take a median 82 days to sell, while condos show 12 months of supply (based on 20 recent condo sales), which gives buyers considerably more room to negotiate. Townhouses had 75 sales in the recent 90-day window, offering a middle ground for buyers priced out of detached houses but wanting more space than a condo.

Condo owners should price against today's competing listings and budget for several months of HOA dues, mortgage payments, and utilities while listed. In a hypothetical scenario, listing a $400,000 condo and selling at the 97.2% condo ratio lands the final price near $388,800.

You can read the selling guide to compare a cash offer against an MLS listing, or review the housing market page for broader trend context.

What raises or lowers a Franklin home's value

Appraisers and agents start with recent sales in your own subdivision and on your specific street, then adjust that baseline based on your home's condition and any recent updates.

Permitted square footage adds value; unpermitted additions can cause appraisal issues. Confirm that any addition, finished basement, or bonus room was permitted through the City of Franklin's Development Reports page before counting it as living space.

HOA dues, reserve funds, and pending special assessments also influence what a buyer will pay. Ask your HOA for the current dues letter and the latest reserve study, because buyers and appraisers will ask for them.

Lot size, property position, and school zoning round out the picture. A premium lot backing up to open space will appraise higher than a comparable house backing up to a busy road. Buyers look closely at school assignment, so check your zoning through the Franklin Special School District's official lookup tool rather than relying on past listing descriptions, and see the schools page for more detail.

Which valuation do you need?

Your timeline and property type determine which approach makes sense.

1. Are you setting a list price in the next few months? Use a CMA and read the section on how the market turns a valuation into a list price. Skip the online estimate except as a starting point.
2. Is your home a condo or townhouse rather than a detached house? Read the opening section for the price split, then the list-price section for supply and days on market. Your timeline and pricing room differ from a house's.
3. Are you refinancing or trying to drop mortgage insurance? Only the lender's appraisal counts, so read the section comparing estimates, CMAs, and appraisals.
4. Do you think your tax bill rests on too high a value? Read the section explaining how the county's assessed value differs from market value, and check the appeal steps in the FAQ.

A valuation is an estimate of market conditions, not a formal appraisal, legal counsel, or tax advice.

Franklin, TN, property valuation FAQs

What county is Franklin, TN, in for property assessments?

Franklin is in Williamson County, so the Williamson County Property Assessor sets appraised values. Franklin County, TN, is a separate county in another part of the state, and its trustee records do not cover Franklin homes. You can contact the Williamson County Property Assessor's office at (615) 790-5708 to ask about property values or informal reviews.

Why are home values in Franklin, TN, so high?

The median sale price for all homes in Franklin is roughly $863,000, or $326 per square foot. This figure is pulled up by single-family home sales, which make up the vast majority of local real estate transactions. You can read the housing market page and the cost of living page to see how broader economic factors shape these prices.

How accurate are online home value estimates in Franklin?

Automated models have few recent comparable sales for Franklin condos, since that property type recently saw only 20 sales over a 90-day period. Treat an online condo estimate as a rough starting point rather than a firm number. Check your property address on multiple estimate sites to see how the automated numbers vary.

How much does a home appraisal cost in Franklin, TN?

The fee for a single-family appraisal varies, and larger or complex properties cost more to evaluate. Lenders usually order the appraisal directly for a purchase or a refinance. Ask your lender what the appraisal fee is on your loan estimate.

What happens if a Franklin home appraises below the sale price?

Under the Tennessee REALTORS standard purchase agreement, if a sale is contingent on the appraisal and the value comes in low, the buyer can waive the contingency or terminate the agreement. The buyer and seller can also choose to renegotiate the price, or the buyer can cover the gap with cash. Read the appraisal clause in your own contract to understand your specific deadlines.

How do I appeal my property assessment in Williamson County?

Property owners must first seek an informal review with the Williamson County Assessor of Property. If the issue remains unresolved, you can file a formal appeal with the County Board of Equalization, and eventually escalate to the Tennessee State Board of Equalization if necessary. Contact the Assessor's office at (615) 790-5708 to confirm the exact annual scheduling deadlines, as the local board typically meets in June.

Sources

• Redfin: Data Center
• Tennessee Comptroller of the Treasury: How to Figure Your Tax Bill
• Williamson County Government: FAQ
• Williamson County Government: Property Data Search
• Williamson County Government: FAQ (Assessor Contact)
• University of Tennessee County Technical Assistance Service: Appeal to State Board of Equalization
• Tennessee REALTORS: Purchase and Sale Agreement Forms
• City of Franklin, TN: Development Reports & Maps