Is Spring Hill, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Spring Hill has remained a Seller's Market.
Housing Prices in Spring Hill, TN
How much do homes in Spring Hill, TN cost?
Median Sold Price
$482,132
$232/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Spring Hill was $482,132 in May 2024, down 6.6% from last year, and the median price per square foot was $232.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $135K | $501.5K | +271.5% |
2 Bedrooms | $345K | $342.4K | -0.7% |
3 Bedrooms | $451.7K | $430K | -4.8% |
4 Bedrooms | $582.5K | $551K | -5.4% |
5+ Bedrooms | $706.2K | $717.5K | +1.6% |
Summary: Spring Hill housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 271.5%, 2 bedroom homes decreased by 0.7%, 3 bedroom homes decreased by 4.8%, 4 bedroom homes decreased by 5.4%, and 5+ bedroom homes increased by 1.6%.
Median Sold Price Compared To Nearby Cities
Columbia | $346.8K | $361.6K | +4.3% |
Thompson's Station | $770K | $740.6K | -3.8% |
Spring Hill | $516.3K | $482.1K | -6.6% |
Housing Supply in Spring Hill, TN
How many homes are available in Spring Hill, TN?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
458 | 497 | +8.5% |
Summary: The Spring Hill real estate market had 497 homes for sale in May 2024, a 8.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 36 | 42 | +16.7% |
3 Bedrooms | 210 | 219 | +4.3% |
4 Bedrooms | 165 | 180 | +9.1% |
5+ Bedrooms | 46 | 55 | +19.6% |
Summary: The Spring Hill housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 16.7%, 3 bedroom homes increased by 4.3%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes increased by 19.6%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
96 | 108 | +12.5% |
Asking Price vs. Sold Price
51 Homes Were Sold
Under Asking
38 Homes Were Sold
At Asking
19 Homes Were Sold
Over Asking
Summary: A total of 108 homes were sold or pending in Spring Hill in May 2024, up by 12.5% month-over-month. Of the 108 sold homes, 47% were sold under asking, 35% were sold at asking, and 18% were sold over asking.
Days on Market for Spring Hill, TN
How long does it take to sell a home in Spring Hill, TN?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
30 Days | 22 Days | -27.1% |
Summary: Homes in Spring Hill had an average of 22 days on market in May 2024, down by 27.1% compared to last year.
Breakdown of Home Sale Times
79 Homes Were Sold
Under 30 Days
20 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Summary: During May 2024, 108 homes were sold in Spring Hill; 73% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.