What to Know About Franklin, TN

Can a small town in Tennessee be progressive? That’s what Franklin claims to be. This fast-growing city south of Nashville has earned accolades as a top place to live because of its mix of new jobs, historic preservation, and friendly people. If you’re on the hunt for a place to live near Nashville, Franklin may be your answer.

So pull up a rocking chair and get to know this romantic southern town. We have all you need to know about finding a Franklin home. Learn its cost of living, the state of real estate, and things to do once you’re settled.

About Franklin, TN

Franklin, Tennessee, is a small but expanding city of 85,000 people. In 2017, the US Census ranked it the 8th-fastest-growing city in America. It’s part of the Nashville-Davidson metropolitan area in Williamson County. 

The city radiates innately southern charm, and it should. The town was founded in 1799 and named after Benjamin Franklin. Historic buildings abound, with the oldest extant structure dating to 1815. Franklin has won awards for its historic preservation efforts in its 15-block downtown buildings and historic sites. 

While its founding is post-Revolutionary, its most well-known moment in history is the Battle of Franklin. It was one of the Civil War’s bloodiest battles, and over 10,000 soldiers died there. The battle site has been preserved for visitors to learn about the tragedy and honor the soldiers who lost their lives. 

In the modern era, Franklin has become a business hub with many Fortune 500 companies based here, particularly in the Cool Springs area. Buying a home in Franklin is ideal for those looking to start a career or find job opportunities near the Nashville metro. And as a city inside Williamson County, families have access to the state’s top schools for their children. 

What is the cost of living in Franklin, TN?

Nashville is one of the nation’s hottest places to buy a home and move to, and that trickles across its metro, including into Franklin. The cost of living in Franklin runs about 39% above the national average and 48% above the Tennessee average.

It’s the housing cost that makes this market more expensive–by 114%. But your budget will also pay more for transportation, groceries, and miscellaneous costs.

What is the average home price in Franklin, TN?

Based on Williamson County data from June 2023, the median home price was $1 million, with 32 closed sales. Most homes spent 25 days on the market. Franklin had 683 overall available listings for that month. 

Its home prices were slightly above the county median of $915,000. Williamson County real estate is in high demand, with an average of 31 days on the market. Inventory was around the same level year-over-year, but prices rose from $876,000 in June 2022. It’s about a 12.5% increase. 

Of the listings available in early August 2023, the prices ranged from $85,000 for a one-acre vacant lot to $65 million for a 383-acre farm with a custom-built luxury home, a guest cottage, stables, and multiple other facilities.

Franklin condos and townhomes

For those seeking a maintenance-free lifestyle or an accessible home price in a high-demand area, condos and townhomes are an excellent option. Franklin had 80 listings in this category as of August 2023. Their prices ranged from $259,000 for a studio to $2.9 million for a new construction 3,000 sq ft condo in Cool Springs.

Some sections in Franklin you can look for condos and townhomes are:

• McEwen
• West Main
• Downtown
• West Harpeth
• Carnton
• Goose Creek

But these are not the only neighborhoods to look for these properties; a local real estate agent can show you more Franklin homes.

Waterfront living

Franklin is not a town with ample waterfront living options, but you can find some properties with this feature. It will mostly be creeks or ponds, although you may find a property on the Harpeth River in southern Franklin.

Golf course living

The town has more abundant choices for golf course living. Forrest Crossing will be at the lower price point along the Franklin Bridge Golf Course. You’ll gain golf course views, a community clubhouse, pool, and tennis courts here. A typical home will have 4-5 bedrooms, 2-3 bathrooms, and be 2,500-3,000 sq ft. 

No homes are on the Westhaven Golf Club fairways, but the development does have a thoughtfully planned community with single-family and townhomes. Additional perks include community parks, walking trails, and in-neighborhood walkable schools.

Franklin Property Taxes

One of Tennessee’s many perks is its low tax rate, which extends into property taxes. Residential real estate is taxed at 25% of its appraised value. Get a deeper dive into Tennessee property taxes and why they are so affordable. 

In Williamson County, values are updated every five years. For homes inside Franklin, the 2022 property tax rate was $2.3951 per every $100 of valuation. In addition, the city had a rate of $0.3261.

Top neighborhoods to live in Franklin, TN

Even though Franklin has around 85,000 residents, it’s not a very large city, with city limits covering just 44.73 sq miles. Still, home buyers have diverse neighborhoods to explore, from the historic downtown brownstone to master-planned communities with clubhouses and swimming pools.

Historic downtown is the cultural center for Franklin, as you’ll see from the many shops and restaurants that line its award-winning Main Street. The people who live here love it and even started a neighborhood association to promote ties between the residents and businesses. Definitely expect to find historic homes that add to the downtown character. The immaculately preserved homes come in classic 19th-century styles, from Gothic Revival to Queen Anne.

Master-planned Westhaven is near the golf course and has its own Town Center. You can kick back at Friday night concerts, grab dinner and cocktails, or browse specialty stores from this downtown area. It’s packed with amenities, like walking trails, a community clubhouse called The Residents Club, and its own swim club. 

Fieldstone Farms features more custom-built homes in a park-like setting. It is a great spot for families, with nearby schools, parks, and a recreation center. Like Westhaven, it has a swim club but also a dog park. A homeowner’s association builds a community environment for its 26 sub-neighborhoods. 

Cool Springs is a business hub with many Fortune 500 companies based here. The commercial center includes 200 specialty stores at the Cool Springs Galleria. The Nashville city center is about a 20-minute drive, so it could be ideal for those wanting to live closer to downtown.

But there are even more communities to explore in Franklin, from golf course living at Forrest Crossing to the upscale homes of Legends Ridge. Let a local real estate agent guide you in finding the right Franklin home.

What to do in Franklin, TN

Franklin doesn’t lack activities for you and the family. Find a full complement of entertainment: playgrounds, movie theaters, bicycle trails, sports courts, and more.

If you’re an outdoor enthusiast, parks like Pinkerton Park and Muskrat Cove have trails for walking, biking, kayaking, and fishing. Several nearby places have hiking areas, such as the Harpeth River State Park, where you can also ride horseback or camp in one of its primitive sites. 

Franklin’s downtown events calendar includes activities, festivals, concerts, and more. Visit the weekly farmers market downtown, or participate in the annual Beer Festival in October and Pilgrimage Music & Cultural Festival in September. Each month has something to do, from holiday parades to car shows.

For music lovers, get your fix at a surprising selection of live music venues. The Factory at Franklin is a 200,000 sq ft venue that hosts concerts and theater performances. For an intimate setting, head over to Puckett’s Grocery & Restaurant (yes, it has live music with a famous Open Mic night!) or the Franklin Jazz and Blues Jam Session on Wednesday nights. 

And of course, don’t forget about shopping. From the unique boutiques and antique stores of Downtown Franklin to the more than 200 stores at Cool Springs Galleria, find a retailer with home decor, fashion, and essentials you need.

What is near Franklin, TN?

Franklin is in Williamson County, which becomes increasingly rural as you drive away from Nashville. Still, it has plenty of attractions, like the Natchez Trace National Park and the Carter House Museum. Or, if you’d like to see some history without leaving town, go back in time with a visit to the Carnton Plantation and the Battle of Franklin site through tours and events. 

Nashville is about a 20-minute drive, and you can’t miss it. “Music City” is the heart and soul of country music. Explore the honky-tonks on Broadway, or visit nearby attractions like the Grand Ole Opry and Country Music Hall of Fame. The city’s also a sports town with multiple stadiums, an avid orange Titan following, a world-class private university, and a thriving tech hub.

Surrounding Nashville and Franklin are great communities, even if they tend to be more suburban. Brentwood is an affluent Nashville suburb with recreational facilities, a historic district, and many dining options–not just hot chicken and BBQ. Or head over to Murfreesboro for some live music at The Boro Bar & Grill or visit the Stones River National Battlefield. 

Find your Franklin home

Now that you know a bit more about Franklin, come visit to find out why so many people call this place home! Franklin’s low property taxes, beautiful character, excellent family environment, and proximity to Nashville make it easy to see why so many people are moving here. Find your perfect home with a local Franklin real estate agent.