RUTHERFORD COUNTY, TN – A new study released by Construction Coverage is shedding light on a widening gap between housing trends in Tennessee and across the United States, as affordability challenges and limited construction continue to shape the market. Nationwide, home prices have surged more than 23% since early 2020, while mortgage rates remain at levels not seen since before the Great Recession. Combined with inflation and rising rents, these conditions have made it increasingly difficult for prospective buyers to enter the housing market, especially as the country faces an estimated housing shortage of between 1.5 and 7.3 million units.
That shortage has contributed to an aging housing stock across the U.S., where the median home age has climbed to 43 years. Older homes, while often more affordable upfront, frequently come with higher maintenance costs and a greater likelihood of structural issues. In contrast, rapidly growing regions in the Sun Belt—including Tennessee—are seeing newer housing inventories due to sustained development and population growth.
Nowhere is that trend more evident than in the Nashville-Davidson–Murfreesboro–Franklin, TN Metro Statistical Area, where the median home age is just 28 years, significantly younger than the national average. Nearly 28.4% of homes in the region were built after 2010—more than double the U.S. rate—while only 4.4% date back to before 1940. These figures highlight the region’s rapid expansion and its ability to add new housing supply at a pace many other parts of the country have struggled to match…