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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Spring Hill, TN Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Spring Hill, TN Housing Market Trends

With 55,800 people, 17,867 houses or apartments, and a median cost of homes of $538,310, Spring Hill house prices are not only among the most expensive in Tennessee, Spring Hill real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Spring Hill, accounting for 74.50% of the city's housing units. Other types of housing that are prevalent in Spring Hill include large apartment complexes or high rise apartments ( 12.55%), row houses and other attached homes ( 9.39%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.82%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Spring Hill. Owner-occupied housing accounts for 74.80% of Spring Hill's homes, and 75.25% have either three or four bedrooms, which is average sized relative to America.

Spring Hill homes and real estate are some of the newest in America. 81.26% of Spring Hill's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Spring Hill real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 16.03%), and between 1940-1969 ( 1.67%). There's also some housing in Spring Hill built before 1939 ( 1.04%).

Spring Hill Home Appreciation Rates

In the last 10 years, Spring Hill has experienced some of the highest home appreciation rates of any community in the nation. Spring Hill real estate appreciated 139.02% over the last ten years, which is an average annual home appreciation rate of 9.10%, putting Spring Hill in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Spring Hill definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Spring Hill appreciation rates have trailed the rest of the nation. In the last twelve months, Spring Hill's appreciation rate has been 0.66%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Spring Hill were at -1.32%, which equates to an annual appreciation rate of -5.18%.

Notably, Spring Hill's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Tennessee, our data show that Spring Hill's latest annual appreciation rate is lower than 90% of the other cities and towns in Tennessee.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Spring Hill differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Spring Hill - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Spring Hill real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$538,310

Spring Hill, TN Home Prices
> $1,364,000
$1,023,001 - $1,364,000
$682,001 - $1,023,000
$546,001 - $682,000
$410,001 - $546,000
$273,001 - $410,000
$137,001 - $273,000
$68,001 - $137,000
$0 - $68,000
0.9%
0.9%
3.7%
3.7%
21.7%
21.7%
21.3%
21.3%
32.8%
32.8%
16.4%
16.4%
1.2%
1.2%
0.6%
0.6%
1.4%
1.4%
0% 100.0%
% of Homes
Very High

for Tennessee

Very High

for nation

Number of Homes And Apartments:

17,867

Spring Hill Appreciation Rates

Rent & Ownership

Average Market Rent:

$2,815 / per month

Homeownership Rate

Owners
Renters
74.8%
74.8%
25.2%
25.2%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
4.0%
4.0%
96.0%
96.0%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
81.3%
81.3%
16.0%
16.0%
1.7%
1.7%
1.0%
1.0%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
74.5%
74.5%
9.4%
9.4%
2.8%
2.8%
12.6%
12.6%
0.7%
0.7%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.6%
0.6%
3.3%
3.3%
13.8%
13.8%
42.0%
42.0%
33.3%
33.3%
7.0%
7.0%
0% 100.0%
% of Homes