Is Spring Hill, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Spring Hill has remained a Seller's Market.
Key Takeaway
Spring Hill is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Spring Hill, TN
How much do homes in Spring Hill, TN cost?
Median Sold Price
$484,679
$232/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Spring Hill have sold for 6.8% less than they did a year ago.
Summary: The median home sold price in Spring Hill was $484,679 in March 2024, down 6.8% from last year, and the median price per square foot was $232.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $135K | $501.5K | +271.5% |
| 2 Bedrooms | $348.5K | $337.5K | -3.2% |
| 3 Bedrooms | $460K | $430K | -6.5% |
| 4 Bedrooms | $600K | $549.9K | -8.3% |
| 5+ Bedrooms | $706.2K | $735K | +4.1% |
Summary: Spring Hill housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 271.5%, 2 bedroom homes decreased by 3.2%, 3 bedroom homes decreased by 6.5%, 4 bedroom homes decreased by 8.3%, and 5+ bedroom homes increased by 4.1%.
Median Sold Price Compared To Nearby Cities
| Columbia | $350K | $358.3K | +2.4% |
| Spring Hill | $519.9K | $484.6K | -6.8% |
| Thompson's Station | $810K | $730K | -9.9% |
Housing Supply in Spring Hill, TN
How many homes are available in Spring Hill, TN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 319 | 363 | +13.8% |
Summary: The Spring Hill real estate market had 363 homes for sale in March 2024, a 13.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 28 | 35 | +25.0% |
| 3 Bedrooms | 138 | 160 | +15.9% |
| 4 Bedrooms | 121 | 130 | +7.4% |
| 5+ Bedrooms | 31 | 37 | +19.4% |
Summary: The Spring Hill housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 25%, 3 bedroom homes increased by 15.9%, 4 bedroom homes increased by 7.4%, and 5+ bedroom homes increased by 19.4%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 75 | 76 | +1.3% |
Asking Price vs. Sold Price
40 Homes Were Sold
Under Asking
26 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Spring Hill, you may be able to get a good deal. 52.6% of homes here sold below asking price last month.
Summary: A total of 76 homes were sold or pending in Spring Hill in March 2024, up by 1.3% month-over-month. Of the 76 sold homes, 53% were sold under asking, 34% were sold at asking, and 13% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 32 Days | 38 Days | +16.7% |
Summary: Homes in Spring Hill had an average of 38 days on market in Mar 2024, up by 16.7% compared to last year.
Breakdown of Home Sale Times
45 Homes Were Sold
Under 30 Days
21 Homes Were Sold
In 30 - 90 Days
10 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Spring Hill are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 76 homes were sold in Spring Hill; 59% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.
© 2024 of the REALTRACS MLS. All rights Reserved.