Spring Hill, Tennessee Housing Market Prices
Spring Hill Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 137% above the Tennessee median$607,154
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Median rent 53% above the Tennessee median$1,821
Housing Market Overview
| Metric | Spring Hill | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $607,154 | $255,786 | $248,835 |
| Price Trend (Annual %) | 35.4% | 9.9% | 7.5% |
| Median Gross Rent | $1,821 | $1,188 | $1,407 |
| Rent Trend (Annual %) | 5.0% | 5.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Spring Hill is about 137% higher than in Tennessee. Rent is about 53% higher than the Tennessee average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Spring Hill, up about 35.4% and 5.0% a year respectively. Home prices are changing faster.
Median rent in Spring Hill rose about 51.5% between 2015 and 2024, from $1,202 to $1,821. Over the same span, rent in Tennessee rose about 55.6%.
Affordability
On average, housing unit costs 5.4 yearly household incomes in Spring Hill.
Buying the median-priced home in Spring Hill costs roughly 27.8 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Spring Hill. The price-to-rent ratio in Tennessee is about 17.9.
| Metric | Spring Hill | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $607,154 | $255,786 | $248,835 |
| Median Household Income | $111,447 | $69,901 | $80,455 |
| Price-to-Income Ratio | 5.4 | 3.7 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Spring Hill rose about 268.1%, while median household income rose about 73.1% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Spring Hill | Tennessee Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 69.6% | 60.1% | 58.5% |
| Rental Rate | 26.9% | 29.7% | 31.2% |
| Vacancy Rate | 3.5% | 10.2% | 10.2% |
| Median Tenure (years) | 9.0 | 14.0 | 15.0 |
| Median Year Moved In | 2017 | 2012 | 2011 |
Spring Hill has a homeownership rate of 69.6%, higher than the Tennessee average of 60.1%. Its housing vacancy rate is 3.5%, compared with 10.2% in Tennessee.
Housing Stock
| Metric | Spring Hill | Tennessee Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.80 people | 2.45 people | 2.53 people |
| Median Structure Built Year | 2008 | 1986 | 1978 |
| Median Number of Rooms | 6.6 | 5.7 | 5.5 |
The typical housing unit in Spring Hill was built around 2008. On average, 2.8 people live in a home with about 6.6 rooms, staying for about 9.0 years on average.
Spring Hill, TN Housing Compared With Nearby Cities
How Spring Hill, TN compares with the 2 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Spring Hill, TN | 45,602 | $607,154 #1/3 | $1,821 #2/3 | 72.2% #1/3 |
| Columbia, TN | 26,144 | $196,818 | $1,164 | 63.5% |
| Franklin, TN | 65,220 | $533,230 | $1,899 | 63.3% |
Frequently Asked Questions
Common questions about the housing market in Spring Hill, Tennessee.
What is the median home price in Spring Hill, Tennessee?
The median home price in Spring Hill, Tennessee is $607,154, higher than the Tennessee average of $255,786.
What is the average home price in Spring Hill, Tennessee?
The typical home price in Spring Hill, Tennessee, reported as the median sale price, is $607,154. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Spring Hill, Tennessee?
The median gross rent in Spring Hill, Tennessee is $1,821 per month, higher than the Tennessee average of $1,188.
What was the median gross rent in Spring Hill in 2020?
In 2020, the median gross rent in Spring Hill, Tennessee was $1,417 per month.
What is the price-to-rent ratio in Spring Hill, Tennessee?
The price-to-rent ratio in Spring Hill, Tennessee is about 27.8, meaning it would take roughly 27.8 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Spring Hill.
Are home prices or rent rising faster in Spring Hill, Tennessee?
Both home prices and rent are rising in Spring Hill, up about 35.4% and 5.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Spring Hill, Tennessee?
69.6% of households in Spring Hill, Tennessee own their home, higher than the Tennessee average of 60.1%.
What is the vacancy rate in Spring Hill, Tennessee?
The housing vacancy rate in Spring Hill, Tennessee is 3.5%, lower than the Tennessee average of 10.2%.
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