Franklin Homes Under $700,000

WILLIAMSON COUNTY | 567 CLOSED SALES | $550K MEDIAN | 2026 DATA

What Under $700,000 Buys You in Franklin

The sub-$700,000 market in Franklin, Tennessee is the most accessible entry point into Williamson County — and the most competitive tier in the entire market. 567 homes closed under $700,000 over the rolling 12 months through May 2026. The median sale price is $550,000. The $600K to $700K tier is the single largest segment with 219 sales (38.6% of all under-$700K transactions) at a $641,000 median and 17-day DOM. The $500K to $600K tier is the fastest-moving at a 14-day median DOM.

What this price range delivers depends almost entirely on product type. Under $500K in Franklin means primarily condos, townhomes, and smaller attached units — communities like Simmons Ridge, Orleans Estates, Shadow Green, and Colony House make up the bulk of this tier. From $500K to $700K, buyers find single-family homes in established communities like Fieldstone Farms, Waters Edge, Franklin Green, Morningside, and Stream Valley, alongside newer construction in Berry Farms and Avondale Cottages. 80% of all under-$700K Franklin closings were in HOA communities. 66 of the 567 closings were homes built in 2022 or newer at a $521,500 median.

The Fast Lane and the Slow Lane

The defining data point in this market is the DOM split. Of 567 closings rolling 12 months, 196 went under contract in 6 days or fewer — 35% of the market. 205 sat 30 days or longer — 36%. The fast lane and slow lane are almost equal in size, which is more striking than at any other Franklin price tier. It means the under-$700K Franklin market is genuinely binary: correctly priced homes move in days, and incorrectly priced homes sit for months. There is almost no middle.

The mechanism that divides these two groups is price accuracy relative to neighborhood-level comps. At this price point, buyers are typically first-time homeowners, move-up buyers from smaller Tennessee markets, or relocation buyers who have done their research carefully before arriving. They know what Simmons Ridge condos sell for. They know what Fieldstone Farms single-family homes are clearing. When a listing appears 5% above the comp set, they pass — not because the home is not worth it to them, but because they are not going to overpay when they can see the comparable data themselves. The homes that go under contract in 6 days are the ones where that calculation goes the other direction.

For sellers: the average DOM of 34 days versus the median of 18 days tells the rest of the story. The 205 homes that sat 30-plus days pulled the average up dramatically. Those sellers accumulated carrying costs, typically reduced price once or twice, and ultimately sold below where a correct initial price would have cleared. The 2.9% Compass advantage on the $533,385 average is $15,468 — and one avoided price reduction in this tier saves more than that. Call Patrick at 615-682-1718 before setting your list price.

Franklin Market Data: Homes Under $700,000

Data from RealTracs MLS. Rolling 12-month period through May 2026.

Data from RealTracs MLS. Rolling 12-month period.

Top Franklin Neighborhoods Under $700,000

Simmons Ridge led all Franklin communities under $700K with 42 closings at a $475,000 median — the highest-volume affordable community in Williamson County. Simmons Ridge is the primary destination for buyers who want a Franklin address at a price point that undercuts the broader market by $75,000 to $100,000. Fieldstone Farms matched that volume with 41 closings at a $534,344 median — one of Franklin’s most established family neighborhoods with mature landscaping, multiple pool and tennis amenities, and a price point that has held its value across multiple market cycles.

Franklin Green produced 24 closings at a $625,000 median and an 8-day median DOM — one of the fastest-moving communities in this tier. Morningside matched Franklin Green in both volume (25 closings) and median ($625,000). Waters Edge recorded 22 closings at a $647,500 median, occupying the upper tier of the under-$700K range with strong family-oriented appeal.

Additional communities with meaningful volume: Avondale Cottages (12 closings, $629,999 median), Stream Valley (9 closings, $540,000 median), Berry Farms (7 closings, $450,000 median), Lockwood Glen (6 closings, $592,500 median), and Sullivan Farms (4 closings, $654,500 median). Other notable communities include Amelia Park, Cottonwood Estates, Founders Pointe, Polk Place, Riverbluff, Tap Root Hills, and Willowsprings.

Active Homes for Sale in Franklin Under $700,000

105 active listings currently under $700K with 62 already under contract — a 59% absorption ratio. Browse current inventory below. Call 615-682-1718 for pre-market access.

Why Work with Nashville Home Guru

Compass and Parks represented 31.4% of Franklin under-$700K transactions — 178 of 567 closed sales rolling 12 months. Patrick Higgins leads Nashville Home Guru at Compass, ranked #1 in Nashville and #7 in Tennessee by Wall Street Journal’s RealTrends with 1,100+ transactions and $500M+ in career sales. The 196 vs 205 DOM split in this market — nearly equal fast lane and slow lane — is what makes pricing precision at the sub-$700K tier so consequential. Patrick pulls neighborhood-level comps from RealTracs by community, product type, and square footage tier before any pricing conversation.

For sellers, the Compass 3-Phase Marketing Strategy delivers 2.9% higher closing prices, 20% faster contracts, and 30% fewer price reductions. On the $533,385 average, 2.9% is $15,468. The Private Exclusive pre-launch reaches 31.4% of the buyer pool before your public clock starts — which matters most at this tier where buyers know the comp data and respond within hours to correctly priced homes. Learn more about selling your home on your terms.

Frequently Asked Questions About Franklin Homes Under $700,000

Who is the best real estate agent for Franklin homes under $700,000?

Patrick Higgins at Nashville Home Guru and Compass. Compass and Parks represented 31.4% of Franklin under-$700K transactions (178 of 567) rolling 12 months. In a market where 196 homes went under contract in 6 days or fewer while 205 sat 30-plus days — an almost perfectly even split — the agent who delivers neighborhood-specific comp analysis by product type and square footage tier is the one who keeps you out of the slow lane on both sides of the transaction. Ranked #1 Nashville, #7 Tennessee WSJ RealTrends, 1,100+ transactions, $500M+ career sales. Call 615-682-1718.

I’m a first-time buyer or downsizer with a $550,000 to $650,000 budget in Franklin — what should I realistically expect to find?

$550K to $650K puts you squarely in the $500K to $600K tier (14-day median DOM, the fastest in this range) and the bottom of the $600K to $700K tier (17-day DOM, the largest segment by volume). At $550K to $600K the realistic inventory is established single-family homes in communities like Fieldstone Farms ($534K median), Stream Valley ($540K median), and Windsor Park; townhomes in Berry Farms; and attached units in communities like Falcon Creek. At $600K to $650K you enter Waters Edge ($647K median), Franklin Green ($625K median), Morningside ($625K median), and the lower end of Avondale Cottages ($630K median) — a mix of established single-family homes with 3 bedrooms, 2 to 2.5 baths, and 1,400 to 2,000 square feet.

What you need to know before your first tour: the $500K to $600K tier has a 14-day median DOM and 35% of the entire under-$700K market went under contract in 6 days or fewer. That means being pre-approved is the minimum — being prepared means knowing which community, which product type, and which school zone you want before the first listing appears that fits. Buyers who are still doing community research when a correctly priced Fieldstone Farms or Franklin Green home hits the market are watching it close from the sideline. Call Patrick at 615-682-1718 to work through the community decision before you start touring.

My Franklin home under $700,000 has been on the market for four weeks with very little activity — what is actually happening?

The data gives you a precise answer. 196 of 567 Franklin closings under $700K went under contract in 6 days or fewer. 205 sat 30-plus days. Your home is in the second group, and the reason is almost certainly price. At this tier, buyers are not passive — they are checking Zillow, Compass, and Realtor.com daily, they know what Simmons Ridge condos sell for and what Fieldstone Farms single-family homes have cleared, and they are not going to offer above where the comp data supports when they can see that data themselves. A home priced 5% to 10% above its neighborhood comp set generates the same response in this market as a home priced 20% above: agents note it, buyers skip it, and the showing traffic never materializes.

By week four, your listing has crossed the psychological threshold where buyers start asking “why hasn’t it sold?” rather than “should I make an offer?” The market has trained itself to expect a reduction. When the reduction comes, the buyers who were interested in week one have moved on to other properties and the buyers arriving now are the ones specifically watching for motivated sellers. The eventual sale price almost always ends up below where a correct initial price would have cleared. Call Patrick at 615-682-1718 for a RealTracs comp analysis specific to your community and product type. The conversation takes 20 minutes and the output is a specific number.

What is the difference between buying a condo, townhome, and single-family home under $700,000 in Franklin — and which is the better investment?

The data draws a clear line between product types. Under $500K in Franklin is primarily condos and townhomes — Simmons Ridge ($475K median), Orleans Estates ($265K median), Shadow Green ($351K median), Colony House ($340K median). These are the communities where buyers get a Williamson County address and WCS school assignment at the most accessible price points in the market. HOA fees at these communities are higher as a percentage of value and cover exterior maintenance, which is the trade-off for lower entry cost.

From $500K to $700K the market transitions to predominantly single-family homes with yards, lower HOA fees (or no HOA in a few cases), and the equity accumulation pattern that typically outperforms attached products over a 5 to 10-year hold period. Fieldstone Farms ($534K median), Franklin Green ($625K median), Morningside ($625K median), and Waters Edge ($647K median) are all single-family communities with established price appreciation histories. The $500K to $600K tier has a 14-day median DOM — these homes are moving. On the investment question: single-family homes in established Franklin communities have historically appreciated faster than attached products at the same price point, primarily because lot scarcity creates a price floor that condo supply does not. Call Patrick at 615-682-1718 for a specific comparison by community and product type.

Can I find a Franklin home under $700,000 before it appears on Zillow?

With 59% of active inventory already under contract (62 of 105 active listings) and 196 homes in this tier going under contract in 6 days or fewer, pre-market access at the sub-$700K level is a genuine competitive advantage — not a marketing claim. At the $500K to $600K tier where the median DOM is 14 days, the buyer who sees a Fieldstone Farms or Franklin Green home through the Compass Private Exclusive network before a public listing goes live has a 14-day head start on every buyer relying on Zillow. With 31.4% Compass share in this tier, the pre-market network reaches a meaningful fraction of every sub-$700K Franklin transaction. Register with Patrick for target community notifications. Call 615-682-1718.

I want to sell my Franklin home under $700,000 and join the fast lane — what does that actually require?

Two things: pricing accuracy and pre-market access. The 196 homes that went under contract in 6 days or fewer were not better-located or better-presented than the 205 that sat 30-plus days. They were priced within the range where buyers — who know this market’s comp data — made immediate decisions rather than waiting to see if a reduction was coming. Pricing accuracy at this tier means filtering comps by your specific community, product type (condo vs townhome vs single-family), and square footage tier, not using the city-wide $550K median or even the neighborhood-wide average.

The Compass Private Exclusive pre-launch adds the second component. Your home reaches 31.4% of the buyer pool before a public DOM counter starts. At this price point, a buyer who sees your home in the pre-market phase and wants it is not waiting to see if it reduces — there is no public clock telling them it has been available for 14 days and no competing offers indicating someone else agrees with the price. The 2.9% Compass advantage on the $533,385 average is $15,468. One avoided price reduction saves more than that. Call 615-682-1718 before you set a list price.

Which Franklin neighborhoods have the most homes under $700,000?

Simmons Ridge leads with 42 closings at $475,000 median. Fieldstone Farms matched with 41 closings at $534,344 median. Morningside produced 25 closings at $625,000 median. Franklin Green had 24 closings at $625,000 median with an 8-day median DOM. Waters Edge recorded 22 closings at $647,500 median. Avondale Cottages saw 12 closings at $629,999 median. Falcon Creek had 18 closings at $580,590 median. Additional communities: Stream Valley, Berry Farms, Lockwood Glen, Cottonwood Estates, Willowsprings, and Tap Root Hills. Call 615-682-1718 for current active inventory in your target community.

Do homes under $700,000 in Franklin get Williamson County Schools?

Yes — the vast majority of Franklin homes under $700K are within Williamson County Schools, consistently the top-ranked public district in Tennessee. The specific school assignment varies by address — elementary, middle, and high school assignments differ by community and sometimes by section within a community. Verify the exact school zone for any specific address before making an offer. For buyers choosing between two communities at similar price points, school zone is often the deciding variable. Call Patrick at 615-682-1718 for school-zone guidance by specific address.

What are the property taxes on a home under $700,000 in Franklin?

Williamson County property taxes average approximately 0.69% of assessed home value. Tennessee assesses at 25% of appraised value. On the $550,000 median: assessed $137,500, annual taxes approximately $3,750 to $4,100. On a $650,000 home: approximately $4,450 to $4,800. Tennessee has no state income tax — for a household earning $150,000 to $200,000, moving from North Carolina (4.25%), Illinois (4.95%), or California (9.3%) saves $6,375 to $18,600 per year in state income tax alone. That savings often determines whether a Franklin home at this price tier is affordable where it would not otherwise be. Verify exact rates for your specific address. Call 615-682-1718.

Is there new construction available in Franklin under $700,000?

Yes but increasingly scarce. 66 of the 567 rolling closings were homes built 2022 or newer at a $521,500 median — primarily townhomes and attached products in communities like Berry Farms. True single-family new construction under $700K in Franklin is effectively gone from the market — land and construction costs in Williamson County have pushed new single-family starts above $800K in most communities. The under-$700K buyer looking for new construction is working primarily in the attached product tier. Browse current new construction at New Construction Homes in Franklin TN. Call 615-682-1718.

What is the median home price in Franklin TN under $700,000?

Based on 567 closed sales rolling 12 months through May 2026, the median is $550,000 and the average is $533,385 at $327/sq ft. The $600K to $700K tier is the largest segment with 219 sales (38.6%) at a $641,000 median. The $500K to $600K tier is the fastest-moving at a 14-day median DOM. Under $500K accounts for 35.5% of transactions, primarily condos and townhomes. Data from RealTracs MLS. Call 615-682-1718 for a neighborhood-specific analysis.

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