Based on the latest Zillow Home Value Index data, you’ll find Tennessee’s luxury housing market has dramatically outperformed the national average. The top 25 most expensive towns in Tennessee have seen an extraordinary average price increase of 152.56% since 2011, nearly tripling the investment value of these properties. Even more remarkable is the recent acceleration, with values jumping 58.92% just since 2020.
Your investment potential is particularly striking in towns like College Grove, which delivered the highest 15-year return at 246.09%, effectively turning a $340,805 investment in 2011 into $1,179,487 by 2025. For a more recent investment window, Arrington has yielded the strongest 5-year returns at 78.27% since 2020, dramatically outperforming traditional investment vehicles during the same period. When considering absolute dollar growth, College Grove again leads with an $838,682 increase since 2011.
Your capital allocation decision should factor in the clear geographic concentration of these luxury markets. Williamson County dominates with 7 towns in the top 25, while the Nashville-Davidson-Murfreesboro-Franklin metro area accounts for 14 of these premium markets. The Nashville influence is undeniable, with a median home value of $680,020 across all 25 towns – substantially higher than the typical Tennessee property. This concentration presents both opportunity and risk, depending on your investment diversification goals.
25. Germantown
- 2025 Value: $472,733
- 2020 Value: $343,409
- 2015 Value: $270,245
- 2011 Value: $244,344
- % Change 2020-2025: 37.66%
- % Change 2015-2025: 74.93%
- % Change 2011-2025: 93.47%
Your investment in Germantown would have nearly doubled since 2011, achieving a 93.47% return over the 14-year period. This Memphis suburb offers you entry-level pricing for Tennessee’s luxury market at $472,733, with more modest 37.66% appreciation since 2020 suggesting a maturing market compared to Nashville-area assets. Located in Shelby County about 20 minutes east of Memphis, Germantown combines suburban comfort with proximity to employment centers, offering you a blend of stability and growth potential that has consistently outperformed the broader Memphis market.
24. Hendersonville
- 2025 Value: $491,536
- 2020 Value: $333,310
- 2015 Value: $231,164
- 2011 Value: $205,955
- % Change 2020-2025: 47.47%
- % Change 2015-2025: 112.64%
- % Change 2011-2025: 138.66%
Your capital would have gained 138.66% since 2011 in Hendersonville, with especially strong 112.64% growth in the past decade. This waterfront Nashville suburb delivers an appealing $491,536 price point with 47.47% appreciation since 2020, suggesting continued momentum in this market. Positioned along Old Hickory Lake just 20 miles northeast of Nashville, Hendersonville gives you lakefront lifestyle options with reasonable commuting distance to Nashville’s employment centers, explaining its attractive growth metrics and continuing appeal to investors seeking Nashville market exposure at more accessible price points.
23. Collierville
- 2025 Value: $501,366
- 2020 Value: $353,636
- 2015 Value: $277,043
- 2011 Value: $250,458
- % Change 2020-2025: 41.77%
- % Change 2015-2025: 80.97%
- % Change 2011-2025: 100.18%
Your investment in Collierville would have precisely doubled since 2011, hitting the 100.18% return mark with average values now at $501,366. This Memphis suburb has delivered steady 41.77% growth since 2020, providing more moderate but reliable returns compared to Nashville-area markets. Located in Shelby County about 30 minutes east of Memphis, Collierville offers you historic charm combined with upscale retail and dining options, creating a distinct investment proposition with lower volatility and favorable long-term capital appreciation that has proven resilient through various market cycles.
22. Lascassas
- 2025 Value: $503,968
- 2020 Value: $325,731
- 2015 Value: $217,873
- 2011 Value: $201,778
- % Change 2020-2025: 54.72%
- % Change 2015-2025: 131.31%
- % Change 2011-2025: 149.76%
Your capital would have appreciated 149.76% in Lascassas since 2011, with current average values of $503,968 representing exceptional returns in this rural Rutherford County market. The impressive 54.72% five-year growth rate signals strong recent performance compared to many larger suburbs. Situated approximately 10 miles northeast of Murfreesboro and 40 minutes from Nashville, Lascassas provides you with a compelling combination of rural character and land value appreciation, driven by Nashville’s expanding commuter footprint and the area’s growing appeal among buyers seeking larger properties at relatively accessible price points.
21. Fairview
- 2025 Value: $516,338
- 2020 Value: $321,232
- 2015 Value: $199,529
- 2011 Value: $170,441
- % Change 2020-2025: 60.74%
- % Change 2015-2025: 158.78%
- % Change 2011-2025: 202.94%
Your investment would have tripled in Fairview since 2011, delivering an exceptional 202.94% return that significantly outperforms most financial assets over the same period. The 2025 average of $516,338 represents strong value with continued momentum evidenced by 60.74% growth just since 2020. Located in western Williamson County about 30 minutes southwest of Nashville, Fairview offers you larger lots and rural character at a lower entry point than many Williamson County alternatives, with its position along the I-40 corridor providing convenient access to Nashville’s employment centers while maintaining a strategic distance from urban density.
20. Eagleville
- 2025 Value: $517,856
- 2020 Value: $333,988
- 2015 Value: $191,362
- 2011 Value: $168,874
- % Change 2020-2025: 55.05%
- % Change 2015-2025: 170.62%
- % Change 2011-2025: 206.65%
Your capital would have more than tripled in Eagleville since 2011, with extraordinary 206.65% appreciation representing one of the strongest long-term investment returns in Tennessee’s luxury market. The current $517,856 average presents solid value with 55.05% five-year growth suggesting continuing momentum. Located in southwestern Rutherford County approximately 40 minutes from Nashville, Eagleville offers you rural tranquility and larger acreage opportunities while benefiting from Nashville’s expanding commuter radius, creating significant land value appreciation as buyers increasingly seek spaciousness and privacy within reasonable commuting distance to major employment centers.
19. Spring Hill
- 2025 Value: $519,054
- 2020 Value: $334,070
- 2015 Value: $232,672
- 2011 Value: $195,157
- % Change 2020-2025: 55.37%
- % Change 2015-2025: 123.08%
- % Change 2011-2025: 165.97%
Your investment in Spring Hill would have delivered 165.97% returns since 2011, with current values of $519,054 reflecting this rapidly developing market south of Nashville. The strong 55.37% five-year growth rate indicates continuing buyer demand and development momentum. Straddling both Williamson and Maury counties approximately 30 miles south of Nashville, Spring Hill offers you attractive investment potential due to its strategic location along the I-65 growth corridor, strengthened by major employers including General Motors and continued residential development that has transformed this once-rural community into an increasingly important commercial and residential hub.
18. Ridgeside
- 2025 Value: $523,696
- 2020 Value: N/A
- 2015 Value: N/A
- 2011 Value: N/A
- % Change 2020-2025: N/A
- % Change 2015-2025: N/A
- % Change 2011-2025: N/A
Your potential investment in Ridgeside would be valued at $523,696 in 2025, though historical comparison data isn’t available to calculate returns. This tiny enclave represents a niche market opportunity within the Chattanooga luxury segment. Located in Hamilton County as a small residential pocket surrounded by the city of Chattanooga, Ridgeside offers you exclusivity with its limited housing inventory and proximity to both downtown Chattanooga and the upscale Missionary Ridge area, creating potential for appreciation driven by the broader Chattanooga market’s growth while maintaining its distinct identity as a premium residential address.
17. Hickory Withe
- 2025 Value: $532,783
- 2020 Value: $381,320
- 2015 Value: $300,601
- 2011 Value: $271,133
- % Change 2020-2025: 39.72%
- % Change 2015-2025: 77.24%
- % Change 2011-2025: 96.50%
Your capital would have nearly doubled in Hickory Withe since 2011, with 96.50% appreciation taking average values to $532,783. The moderate 39.72% five-year growth rate suggests a stabilizing market compared to Nashville-area alternatives. Located in Fayette County east of Memphis, Hickory Withe presents you with a rural luxury investment opportunity approximately 30 miles from downtown Memphis, featuring larger estate properties and equestrian facilities that appeal to buyers seeking privacy and space while maintaining regional airport access and proximity to Memphis’s cultural amenities, creating value through land appreciation and limited development density.
16. Rossville
- 2025 Value: $540,886
- 2020 Value: $368,789
- 2015 Value: $294,094
- 2011 Value: $272,996
- % Change 2020-2025: 46.67%
- % Change 2015-2025: 83.92%
- % Change 2011-2025: 98.13%
Your investment in Rossville would have approximately doubled since 2011, with 98.13% appreciation bringing values to $540,886 and representing solid if not spectacular returns. The recent 46.67% five-year growth shows reasonable momentum in this Fayette County market. Situated approximately 30 miles east of Memphis, Rossville offers you a small-town environment with larger lot sizes and rural character, benefiting from Memphis’s eastward growth patterns while maintaining sufficient distance to preserve its distinct identity, creating investment value through controlled growth and appeal to those seeking alternatives to Memphis suburbia with comparable driving time to urban amenities and employment centers.
15. Mount Juliet
- 2025 Value: $556,147
- 2020 Value: $361,779
- 2015 Value: $262,866
- 2011 Value: $227,530
- % Change 2020-2025: 53.73%
- % Change 2015-2025: 111.57%
- % Change 2011-2025: 144.43%
Your capital would have appreciated 144.43% in Mount Juliet since 2011, with the current $556,147 valuation representing strong performance for this Nashville suburb. The robust 53.73% five-year growth rate indicates continuing demand in this fast-growing market. Located in Wilson County approximately 17 miles east of downtown Nashville, Mount Juliet offers you strategic positioning along both I-40 and commuter rail lines, creating significant investment value through transportation advantages and relative affordability compared to closer-in Nashville suburbs. The town’s commercial development and infrastructure improvements have further strengthened property values, making it an increasingly important node in Nashville’s eastern growth corridor.
14. Signal Mountain
- 2025 Value: $572,483
- 2020 Value: $352,114
- 2015 Value: $281,602
- 2011 Value: $271,099
- % Change 2020-2025: 62.58%
- % Change 2015-2025: 103.30%
- % Change 2011-2025: 111.17%
Your investment in Signal Mountain would have more than doubled since 2011, delivering 111.17% returns with current values at $572,483. The impressive 62.58% five-year growth rate shows accelerated recent appreciation in this Chattanooga-area market. Perched atop the Cumberland Plateau just 15 minutes from downtown Chattanooga, Signal Mountain gives you both elevation and exclusivity, with its premium pricing reflecting limited developable land and desirable school districts. Your investment potential here is enhanced by the combination of natural barriers to development, views of the Tennessee River valley, and Chattanooga’s growing reputation as a technology hub and outdoor lifestyle destination.
13. Primm Springs
- 2025 Value: $573,392
- 2020 Value: $335,374
- 2015 Value: $199,725
- 2011 Value: $166,382
- % Change 2020-2025: 70.97%
- % Change 2015-2025: 187.09%
- % Change 2011-2025: 244.62%
Your capital would have more than tripled in Primm Springs since 2011, with extraordinary 244.62% returns representing the second-highest long-term appreciation on our list. The current $573,392 value and remarkable 70.97% five-year growth rate suggest continuing strong market momentum. Located in rural Hickman County approximately 45 miles southwest of Nashville, Primm Springs offers you a niche investment opportunity in a historic area with limited inventory and increasing appeal among buyers seeking authenticity and seclusion. Your investment here would benefit from the area’s natural beauty, historic mineral springs legacy, and growing appeal among affluent buyers seeking retreat properties within reasonable distance of Nashville.
12. Milton
- 2025 Value: $600,232
- 2020 Value: N/A
- 2015 Value: N/A
- 2011 Value: N/A
- % Change 2020-2025: N/A
- % Change 2015-2025: N/A
- % Change 2011-2025: N/A
Your potential investment in Milton would be valued at $600,232 in 2025, though historical data isn’t available to calculate return metrics for this unique market. This historic community represents a specialized investment opportunity within Rutherford County’s luxury segment. Located approximately 30 miles southeast of Nashville, Milton offers you an entry point to a historic community with limited housing stock and distinctive 19th-century architecture. Your investment potential would be driven by the area’s historic preservation focus, rural character, and strategic location within Rutherford County’s growth corridor while remaining sufficiently distant from suburban development to maintain its distinct rural identity and limited inventory.
11. Farragut
- 2025 Value: $648,866
- 2020 Value: $364,969
- 2015 Value: $308,308
- 2011 Value: $284,522
- % Change 2020-2025: 77.79%
- % Change 2015-2025: 110.46%
- % Change 2011-2025: 128.06%
Your portfolio would have gained 128.06% in Farragut since 2011, with current values of $648,866 representing strong performance in Knoxville’s premier suburb. The exceptional 77.79% five-year growth rate ranks second-highest on our list, indicating particularly strong recent performance. Located in Knox County approximately 16 miles west of downtown Knoxville, Farragut offers you investment exposure to one of Tennessee’s most affluent communities with consistently top-ranked schools and upscale retail. Your capital appreciation potential benefits from limited developable land, strict zoning, proximity to Turkey Creek shopping district, and easy access to both I-40/I-75, creating sustained demand among executives and professionals seeking Knoxville’s most prestigious address.
10. Walden
- 2025 Value: $652,740
- 2020 Value: $401,660
- 2015 Value: $326,461
- 2011 Value: $315,692
- % Change 2020-2025: 62.51%
- % Change 2015-2025: 99.94%
- % Change 2011-2025: 106.76%
Your investment in Walden would have doubled since 2011, with 106.76% appreciation bringing values to $652,740. The strong 62.51% five-year growth rate indicates accelerating recent performance in this Chattanooga-area market. Situated on Walden’s Ridge approximately 15 minutes from downtown Chattanooga, Walden provides you with elevated views and a separate municipality identity that has maintained its premium status through careful zoning and development restrictions. Your investment benefits from the town’s strategic position as an exclusive enclave adjacent to the desirable Signal Mountain area, creating value through limited supply, established affluence, and Chattanooga’s growing reputation as a technology and outdoor lifestyle destination.
9. Eads
- 2025 Value: $669,254
- 2020 Value: N/A
- 2015 Value: N/A
- 2011 Value: N/A
- % Change 2020-2025: N/A
- % Change 2015-2025: N/A
- % Change 2011-2025: N/A
Your potential investment in Eads would be valued at $669,254 in 2025, though historical comparison data isn’t available to calculate return metrics. This unincorporated community represents Memphis’s highest-value suburban area. Located in Shelby County approximately 25 miles east of downtown Memphis, Eads offers you a strategic investment in a rural luxury market that has benefited from Memphis’s eastward expansion while maintaining larger lot sizes and agricultural character. Your investment potential is enhanced by the area’s reputation for equestrian facilities, estate properties, and proximity to FedEx’s world hub, creating appeal among corporate executives and providing insulation from broader Memphis market fluctuations through its distinct high-end positioning.
8. Piperton
- 2025 Value: $680,379
- 2020 Value: $476,480
- 2015 Value: $376,243
- 2011 Value: $332,212
- % Change 2020-2025: 42.79%
- % Change 2015-2025: 80.83%
- % Change 2011-2025: 104.80%
Your capital would have doubled in Piperton since 2011, with 104.80% appreciation taking average values to $680,379. The moderate 42.79% five-year growth rate suggests a stabilizing market in this Memphis suburban area. Located in Fayette County approximately 30 miles east of Memphis, Piperton offers you a strategic investment position along the Highway 72 corridor with proximity to Collierville’s commercial amenities. Your investment potential benefits from the town’s strategic growth planning, infrastructure improvements, and position as a gateway to Fayette County, capturing migration from Collierville and eastern Shelby County while maintaining larger lot sizes and relatively lower property tax rates than comparable Shelby County properties.
7. Thompsons Station
- 2025 Value: $708,468
- 2020 Value: $431,499
- 2015 Value: $301,552
- 2011 Value: $247,410
- % Change 2020-2025: 64.19%
- % Change 2015-2025: 134.94%
- % Change 2011-2025: 186.35%
Your investment would have nearly tripled in Thompsons Station since 2011, with impressive 186.35% returns significantly outperforming most asset classes over the same period. The current $708,468 average and strong 64.19% five-year growth rate indicate continuing momentum in this high-performing market. Located in Williamson County approximately 25 miles south of Nashville along the I-65 corridor, Thompsons Station gives you exposure to Williamson County’s prestigious school district at a relatively lower entry point than Franklin or Brentwood. Your capital appreciation benefits from the town’s strategic position in Nashville’s southern growth corridor, planned development approach, and proximity to major employers relocating along the I-65 corridor.
6. Nolensville
- 2025 Value: $802,276
- 2020 Value: $498,682
- 2015 Value: $359,136
- 2011 Value: $314,488
- % Change 2020-2025: 60.88%
- % Change 2015-2025: 123.39%
- % Change 2011-2025: 155.11%
Your portfolio would have delivered 155.11% returns in Nolensville since 2011, with current values reaching $802,276 and representing exceptional performance. The strong 60.88% five-year growth rate indicates continuing buyer demand in this increasingly upscale community. Located at the intersection of Williamson, Davidson, and Rutherford counties approximately 20 miles southeast of Nashville, Nolensville provides you with access to Williamson County schools while maintaining closer proximity to Nashville than many alternatives. Your investment benefits from the town’s balanced development approach, historic downtown district, and strategic position along the rapidly developing southeast Nashville corridor, creating sustained demand among families and professionals seeking Williamson County addresses at relatively accessible price points.
5. Franklin
- 2025 Value: $879,978
- 2020 Value: $523,083
- 2015 Value: $380,502
- 2011 Value: $316,554
- % Change 2020-2025: 68.23%
- % Change 2015-2025: 131.27%
- % Change 2011-2025: 177.99%
Your investment in Franklin would have nearly tripled since 2011, with 177.99% returns taking average values to $879,978 and representing consistently strong performance. The impressive 68.23% five-year growth rate shows accelerating recent appreciation in Tennessee’s premier suburban market. Located in Williamson County approximately 20 miles south of Nashville, Franklin gives you exposure to one of the most sought-after addresses in the Southeast with its combination of historic character and modern amenities. Your capital appreciation is driven by limited developable land, nationally recognized schools, corporate relocations, and Franklin’s historic downtown that creates sustainable premium pricing through controlled growth and established affluence.
4. Lookout Mountain
- 2025 Value: $971,964
- 2020 Value: $563,490
- 2015 Value: $461,720
- 2011 Value: $464,089
- % Change 2020-2025: 72.49%
- % Change 2015-2025: 110.51%
- % Change 2011-2025: 109.43%
Your capital would have more than doubled in Lookout Mountain since 2011, with 109.43% appreciation taking values to $971,964 at the top end of the Chattanooga luxury market. The strong 72.49% five-year growth rate shows particularly impressive recent performance. Straddling the Tennessee-Georgia border just minutes from downtown Chattanooga, Lookout Mountain offers you an exclusive investment opportunity with limited developable land and dramatic views. Your investment benefits from the area’s prestige, nationally ranked private schools, outdoor recreation opportunities, and Chattanooga’s economic renaissance, creating sustainable premium pricing through natural geography that restricts supply while demand continues to grow from both local wealth and relocating executives.
3. Arrington
- 2025 Value: $1,077,360
- 2020 Value: $604,334
- 2015 Value: $419,678
- 2011 Value: $338,504
- % Change 2020-2025: 78.27%
- % Change 2015-2025: 156.71%
- % Change 2011-2025: 218.27%
Your investment would have more than tripled in Arrington since 2011, with exceptional 218.27% returns ranking among Tennessee’s strongest luxury market performers. The current $1,077,360 average and market-leading 78.27% five-year growth rate indicate particularly strong recent momentum. Located in Williamson County approximately 25 miles south of Nashville, Arrington offers you investment exposure to a rapidly evolving luxury market centered around the Arrington Vineyards attraction and prestigious golf communities. Your capital appreciation benefits from the area’s transformation from agricultural land to high-end residential developments, capturing both Nashville’s southern expansion and the appeal of rural character combined with upscale amenities and Williamson County schools.
2. College Grove
- 2025 Value: $1,179,487
- 2020 Value: $695,496
- 2015 Value: $409,998
- 2011 Value: $340,805
- % Change 2020-2025: 69.59%
- % Change 2015-2025: 187.68%
- % Change 2011-2025: 246.09%
Your portfolio would have delivered extraordinary 246.09% returns in College Grove since 2011, representing the highest long-term appreciation on our list with values now at $1,179,487. The exceptional 69.59% five-year growth rate shows continuing strong momentum in this premium market. Located in southeastern Williamson County approximately 30 miles from Nashville, College Grove gives you exposure to Tennessee’s most dramatic rural-to-luxury transformation. Your investment success here is driven by the development of ultra-premium golf communities including The Grove, which has attracted professional athletes creating a distinctive blend of rural privacy and resort amenities that commands premium pricing and attracts affluent buyers from across the country.
1. Brentwood
- 2025 Value: $1,307,258
- 2020 Value: $754,928
- 2015 Value: $577,654
- 2011 Value: $482,588
- % Change 2020-2025: 73.16%
- % Change 2015-2025: 126.30%
- % Change 2011-2025: 170.89%
Your capital would have appreciated 170.89% in Brentwood since 2011, with the highest absolute values in Tennessee at $1,307,258 and the largest dollar increase at $824,670 over the period. The strong 73.16% five-year growth rate ranks third highest on our list, indicating robust recent performance. Located in Williamson County just 10 miles south of Nashville, Brentwood provides you with Tennessee’s most established luxury market and prestigious address. Your investment performance is driven by the area’s one-acre minimum lot size requirements, nationally ranked schools, corporate headquarters concentration, and ideal positioning between downtown Nashville and Franklin, creating sustainable premium pricing through strict zoning, infrastructure quality.
