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East Tennessee Housing Market Report — July 2026

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Every East Tennessee Market Posted Gains in June — Here’s What the Data Says

The June 2026 numbers are in, and the story they tell might surprise you. Despite mortgage rates hovering near 7%, every single market I track across East Tennessee posted year-over-year closings gains last month. Farragut surged 52.5%. Anderson County climbed 24.7%. Even Sevier County — the region’s softest market — grew 21.3%.

Buyers have adapted. They’re making decisions based on need, life circumstances, and local value rather than waiting for a rate cut that, frankly, isn’t coming this year. But understanding what’s happening nationally is essential to understanding where our local markets are headed, so let’s start there.

What the June CPI Report Means for East Tennessee Home Buyers and Sellers

The June Consumer Price Index landed this week, and the headline number grabbed attention. CPI came in at 3.5% year over year, but the monthly reading of -0.4% on a seasonally adjusted basis marked the sharpest single-month decline since April 2020. Energy drove the drop — overall energy costs fell 5.7% month over month, and gasoline prices specifically declined 9.7%.

However, the number that matters most for the housing market told a different story. Core CPI, which strips out volatile food and energy prices, held steady at 2.6% year over year and was completely flat month over month. The sticky, services-driven inflation that the Federal Reserve watches most closely barely budged. That distinction is critical for anyone trying to time a home purchase around falling interest rates.

The Federal Reserve’s Message Is Clear: No Rate Cuts in 2026

Newly appointed Federal Reserve Chairman Kevin Warsh testified before Congress on the morning of the CPI release and left no room for ambiguity. He stated the committee has “no tolerance for persistently elevated inflation” and remains committed to the 2% target. He went further, saying policymakers “need to choose lower prices,” signaling the Fed will keep financial conditions tight as long as necessary.

The June CPI print did accomplish one thing: it effectively closed the door on a rate hike at the July 29th FOMC meeting. The CME FedWatch Tool now shows an 86% probability that the Fed holds rates steady, and the pressure from committee members who had been projected to support raising rates later this year has dissipated.

But no one expects rate cuts in 2026. The Fed wants to see sustained declines in core inflation before they’ll even consider easing. For buyers and sellers in East Tennessee, the takeaway is straightforward — rates near 7% are the operating reality, not a temporary condition. Planning around that reality is far more productive than waiting for it to change.

Oil Prices and the Strait of Hormuz: The Wildcard for Housing

The variable that could upend everything is oil. Brent crude surged nearly 10% in a single session after the United States reinstated a naval blockade of Iranian vessels and both nations escalated military actions near the Strait of Hormuz, one of the most critical shipping lanes in the world. As of mid-July, Brent is trading at $85.78 per barrel and continuing to climb.

This matters for East Tennessee real estate in 2 important ways. First, if oil sustains above $90 a barrel, gasoline prices reverse course and the CPI relief we just discussed evaporates. The rate-hike conversation comes back to the table. Second, higher oil prices directly increase construction costs through lumber transportation, material delivery, and equipment fuel, constraining new housing supply at exactly the time the region needs more of it. This is the exogenous variable every buyer and seller should be watching over the next 60 days.

Current Mortgage Rates and What to Expect Through Year End

The 30-year fixed mortgage rate sat at 6.64% on Friday, jumped to 6.72% on Monday, and settled at 6.70% on Tuesday. It was a modest move, but the trajectory is informative. Expect mortgage rates to trade in a band between 6.4% and 7.1% through the end of 2026. This is the environment we’re operating in, and the East Tennessee markets are proving they can perform within it.

Knox County Housing Market Update

Knox County remains the anchor market for the region. June closings rose 7.9% year over year, and year-to-date closings are tracking above 2025 levels. The median home price in Knox County is sitting in the low $400s and has been essentially flat year over year. This is a market where the constraint is inventory, not demand. Buyers are active and engaged, but sellers remain locked in by the rate gap between their current mortgage and what they’d pay on a new home.

Looking ahead, Knox County is on track to finish 2026 with total closings in the range of 7,800–8,200 units, representing a 5–10% increase over last year. Median prices should remain stable in the low $400K range. Any loosening in the lock-in effect, even modest, would unlock significant additional transaction volume. If you’re considering selling a home in Knox County, the demand is there — pricing it right is the key to capturing it.

Farragut Real Estate Market Update

Farragut is the most competitive market in East Tennessee right now, and the June data confirms it emphatically. Closings surged 52.5% year over year. The year-to-date absorption rate sits at just 2.44 months, firmly in strong seller’s market territory. Inventory is declining, and the combination of top-rated schools, premium amenities, and an unmatched lifestyle continues to drive outsized demand.

If current trends hold, expect the median home price in Farragut to push toward $800K by Q4. Buyers shopping for homes in Farragut should be prepared for multiple-offer scenarios on well-priced properties through the summer and into fall. This is not a market where a wait-and-see approach is working in your favor. Sellers, meanwhile, hold significant leverage — but overpricing still carries risk even in a market this tight.

Blount County Housing Market Update

Blount County continues its pricing convergence with Knox County. The median home price has settled into the $400K–$430K range, and the absorption rate is trending below 2.75 months, pushing Blount County into tight seller’s market territory that’s beginning to resemble Farragut’s competitive dynamics.

The county’s appeal as a Smoky Mountains-adjacent market offering real value compared to Sevier County continues to attract both primary-residence buyers and investors. If the absorption rate drops below 2.5 months, we’re looking at a pricing environment that strongly favors sellers through year end. Blount County is a market where the window for buyers to find relative value is narrowing, and it’s worth paying close attention to over the coming months.

Anderson County Real Estate: The Region’s Best Value

Anderson County is the best value story in East Tennessee, and June painted a compelling picture. Closings jumped 24.7% year over year, and new listings surged 33.3%, the strongest listing growth in the entire region. At a median home price of $377,000, Anderson County is the most accessible market in this report.

What makes Anderson County particularly interesting right now is that the supply increase is being met with proportional demand growth. Prices aren’t falling — they’re stabilizing. If listing growth continues while demand holds, the absorption rate could drift toward 3.5 months, giving buyers a slightly more balanced negotiating environment. The median should finish the year somewhere between $370K and $390K. For buyers who are feeling priced out of Knox County or Blount County, Anderson County deserves serious consideration. The market fundamentals are strong, the value is real, and the trajectory is encouraging.

Loudon County Housing Market: The Transformation Story of 2026

Loudon County is undergoing the most dramatic market shift in the region. Just 12 months ago, the absorption rate sat at 5.07 months — a soft, buyer-leaning market. Today it’s 3.63 months. Active listings are down 15.7% year over year. This market has gone from soft to competitive in a single year, and the momentum shows no signs of reversing.

Sellers in Loudon County have their strongest positioning in over a year. Expect median home prices to hold in the $580K–$625K range through year end, with potential for further appreciation if inventory continues its downward trajectory. If you’ve been on the fence about listing your Loudon County home, the data suggests your negotiating position is only getting stronger.

Lenoir City Real Estate: A Market at a Crossroads

Lenoir City is the market I’m watching most closely right now. The median home price surged 18.88% in June, the largest percentage gain in the region. But pending sales dropped 15.4%. That’s a tension that needs to resolve one way or the other, and the answer will shape Lenoir City’s trajectory for the rest of the year.

If June’s price jump was driven by a cluster of higher-priced closings in a small sample — what analysts call a sales-mix effect — then the median will normalize back toward the $490K–$510K range in coming months. But if it reflects genuine appreciation driven by Loudon County spillover demand, Lenoir City may be entering a new pricing tier permanently. The pending sales decline suggests some buyer resistance at the new price level. The next 2 months of data will be critical, and I’ll be reporting on exactly what they reveal.

Tellico Village Market Update

Tellico Village has decisively shifted into a seller’s market. The absorption rate sits at 3.6 months and is trending downward. The median home price is in the $650K–$700K range, and the sale-to-list ratio is 99.8%, meaning homes are selling at virtually full asking price.

The retirement and second-home buyer demographic that drives Tellico Village is less sensitive to mortgage rates than the broader market. Many of these buyers are paying cash or making large down payments, which insulates the community from rate volatility and gives sellers confidence to hold firm on pricing through the fall selling season. If you own a home in Tellico Village and have been thinking about listing, the market conditions are firmly in your favor.

Roane County Real Estate: A Dramatic Turnaround

Roane County’s turnaround is one of the most compelling stories in this report. Previously the region’s weakest price performer, Roane County posted one of the strongest gains in June — up over 14% year over year to a median of $385,500. Closings rose 19.3%, pending sales increased 11.4%, and the absorption rate sits at a healthy 3.24 months.

Roane County has established itself as a viable and increasingly popular alternative for buyers priced out of Knox, Blount, and Loudon counties. Expect the median to settle in the $350K–$385K range for the year, with the upper end more probable if current demand continues. This is a market that has earned serious attention from buyers looking for strong fundamentals at a lower price point.

Sevier County Housing Market: Still a Buyer’s Market

Sevier County remains the region’s outlier. The supply overhang sits at 9.29 months, which is far too large to work through in a single selling season. The structural issue is clear — the inventory is concentrated in investment properties and former short-term rentals that don’t attract the same organic, primary-residence demand driving the other 8 markets in this report.

There are positive signs. Closings rose 21.3% year over year in June, and the median home price is gradually recovering toward the $490K–$510K range. But sellers in Sevier County should continue to price aggressively and expect longer marketing times. The oil price spike adds particular risk here, because higher gas prices directly impact tourism-dependent economies and could shrink the pool of vacation-property buyers considering the Smokies.

East Tennessee Housing Market Forecast: Second Half of 2026

Here’s how the second half of 2026 is shaping up across the region.

Mortgage rates will trade between 6.4% and 7.1% through year end, with no rate cuts expected. Regional closings volume will moderate from June’s strong numbers but remain positive through Q3. Seasonal cooling will temper Q4 as it always does, but the floor for transaction volume is higher this year than it was last year. Prices across East Tennessee will appreciate at a moderate 3–7% year over year, with significant variation by market. Knox County stays stable, Farragut and Loudon County have the most upward pricing power, and Sevier County continues its gradual recovery.

The single most important variable for the second half is inventory. The lock-in effect — where homeowners with 3–4% mortgage rates face $800–$1,200 more per month if they sell and buy at today’s rates — will continue to suppress new listings as long as rates stay above 6%. Markets already tightening, including Farragut, Loudon County, Tellico Village, and Blount County, are likely to get even tighter through the summer.

How to Position Yourself in Today’s East Tennessee Market

The markets with the most pricing power heading into the second half are Farragut, Loudon County, and Tellico Village. Declining inventory and strong demand give sellers in these markets clear leverage.

The best value opportunities for buyers are in Anderson County and Roane County, where median prices sit well below the regional average while market fundamentals continue to strengthen.

Lenoir City and Blount County are the markets to watch most closely. Lenoir City needs to prove whether its price surge is sustainable, and Blount County’s absorption rate is approaching a tipping point into strong seller’s territory.

Sevier County remains the lone buyer’s market, with nearly 10 months of supply and structural inventory challenges that won’t resolve quickly.

The Bottom Line for East Tennessee Real Estate

Rates near 7% are the reality we’re working within, and every market in this report proved in June that transactions happen and value exists even at these levels. Inventory constrained by the lock-in effect is the dominant force shaping prices and competition across the region. And oil prices, driven by escalating tensions near the Strait of Hormuz, are the wildcard that could reshape the economic landscape in ways that ripple directly into our local communities.

Whether you’re buying or selling, the most important thing you can do right now is make decisions based on current conditions rather than hypothetical future ones. The data is clear, the trends are identifiable, and opportunities exist across every price point and market in East Tennessee.

If you’d like to talk through what the latest data means for your specific situation, I’m here to help. Reach out anytime for a no-obligation conversation about your next move in the East Tennessee housing market.

This analysis is based on MLS data downloaded July 13, 2026, with macroeconomic data current as of July 14 and 15, 2026.

East Tennessee Housing Market Update – April 2026: County-by-County Breakdown

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The East Tennessee housing market in April 2026 is not telling one story. It is telling nine very different stories depending on which county or sub-market you are looking at. Some areas are seeing record-level demand with homes flying off the market in under three weeks. Others are sitting on nearly ten months of inventory with prices sliding year over year. If you are buying, selling, or investing anywhere between Knoxville and the Smoky Mountains, understanding the nuances between these micro-markets has never been more important.

I put together this monthly breakdown to give you the clearest possible picture of where things stand right now across Knox County, Blount County, Anderson County, Loudon County, Roane County, Sevier County, and three of the most actively watched sub-markets in the region — Farragut, Tellico Village, and Lenoir City.

Let’s get into the numbers.

Knox County — Steady Activity but the Pace Is Slowing

Knox County remains the anchor of the East Tennessee real estate market, and April delivered solid numbers on the surface. Closed sales came in at 677, which represents a 10.6% increase compared to the same month last year. Pending sales were even stronger at 840, up 12.1% year over year. The median sale price held essentially flat at $400,000, ticking up just 0.03%.

But the story underneath the headlines reveals a shift. Days on market climbed to 18 days, a 50% increase from last April. Active listings rose 11% to 1,686, and months of supply sits at 2.72. The sold price to original list price ratio came in at 96.8%, which tells us sellers are making concessions more often than they were a year ago.

What does this mean if you are a Knox County homeowner thinking about selling this summer? It means the demand is still there, but buyers have more choices now and they are taking their time. Pricing your home correctly from the start is more important today than it has been in the last three years. Overpricing by even five to ten percent is enough to push your days on market well beyond that 18-day median and into territory where buyers start wondering what is wrong with the property.

If you are a buyer in Knox County, the leverage is slowly moving in your direction. Unless a home is highly desirable, you are not likely to face the blind bidding wars of 2022 and 2023, and you have room to negotiate — especially on homes that have been sitting for more than three weeks.

Blount County — Mixed Signals but Possibly Finding a Floor

Blount County delivered a mixed bag in April. The median sale price dipped to $385,000, down 5.1% from last year, and closed sales slipped 2.8% to 171 transactions. Days on market more than doubled to 56 days, which is one of the more dramatic year-over-year shifts in the region.

However, there are signs that the market may be finding a floor. Pending sales rose 10.9%, suggesting that buyer interest is picking back up even as the headline numbers look soft. Inventory actually shrank by 12.4%, which means the supply side is tightening even as demand recovers. The sold price to original list price ratio of 96.2% indicates that well-priced homes are still trading close to their asking price.

For Blount County sellers, the key takeaway is patience and pricing discipline. The days of listing high and waiting for a bidding war are over in this part of the market. But if you price your home in line with recent comparable sales, the buyers are there and the shrinking inventory works in your favor.

For buyers considering Blount County, this is one of the more interesting opportunities in the region right now. Prices have come down, competition has eased, and you have significantly more time to make decisions than you would in Knox County or Farragut.

Anderson County — Low Volume Amplifies the Swings

Anderson County posted the sharpest decline in closed sales across the region in April, with just 71 transactions representing a 16.5% year-over-year drop. That number sounds alarming until you consider the context. Anderson County is a lower-volume market, and small changes in the number of transactions can create outsized percentage swings.

The median sale price actually rose to $330,000, up 10% from last April, which suggests that the homes that are selling are selling well. New listings dropped 15%, which is keeping supply tight at 2.69 months. Pending sales dipped a modest 5.7%, which does not signal a market in distress.

Anderson County continues to appeal to buyers who want more space and lower price points compared to Knox County while still maintaining reasonable access to Knoxville and Oak Ridge. If you are considering this market, the tight supply means you should be prepared to move quickly when the right property comes along.

Loudon County — Price Correction Stimulates Real Demand

Loudon County is one of the most encouraging stories in the region this month. The median sale price adjusted downward to $485,000, a decline of 8.06% from last year, but that correction did exactly what price corrections are supposed to do. It brought buyers back to the table.

Closed sales jumped 16.5% to 113 transactions. Pending sales surged 31.3% to 130 contracts. Homes are moving in a median of 34 days, and months of supply sits at 3.56. The sold price to original list price ratio of 95.8% tells us that sellers are accepting slightly below their initial ask, but the volume and velocity of sales more than compensates for the per-unit price adjustment.

This is a textbook example of what happens when a market finds its equilibrium. Sellers who were holding out for peak 2024 pricing have adjusted their expectations, and buyers who were sitting on the sidelines responded immediately. If you own property in Loudon County and have been waiting to list, the data suggests that the demand is there if the price is right.

Roane County — Surging Pendings but Watch the Inventory

Roane County posted one of the most dramatic pending sales increases in the entire region. Pending contracts hit 107, a staggering 78.3% jump from April 2025. The median price rose to $345,000, up 8%, and closed sales held steady at 72 with no year-over-year change.

But there is a counterweight to that enthusiasm. New listings surged 42.5% and active inventory climbed 14.5%. Days on market doubled to 40 days, and the sold price to original list price ratio of 94.3% is the second lowest in the region behind Sevier County. That means sellers are leaving more money on the table compared to their original asking price.

The question for Roane County heading into summer is whether the surge in pending activity can absorb the flood of new listings. If it can, this market stabilizes at a healthy pace. If it cannot, we could see months of supply creep upward and put additional downward pressure on pricing. I will be watching this one closely over the next 60 to 90 days.

Sevier County — A Full Buyer’s Market

There is no way to sugarcoat the Sevier County numbers. This is a buyer’s market by every traditional metric, and it has been trending in this direction for several months.

The median sale price dropped to $484,000, down 7.81% from last April. Closed sales fell 16.18% to 171 transactions. Pending sales declined 15.57% to 309 contracts. Days on market stretched to 60 days, up 76% year over year. Active listings sit at 1,950, and months of supply has ballooned to 9.40 — well above the four to six month range that defines a balanced market. The sold price to original list price ratio of 92.6% is the lowest in the region, meaning sellers are accepting prices that average more than seven percent below their original asking price.

The investment-heavy nature of Sevier County real estate is a major factor here. Short-term rental properties, cabins, and vacation homes make up a significant portion of the inventory, and many of those owners are testing the market at aspirational price points. The buyers who are active in this market know they have leverage, and they are using it.

If you are a buyer who has been eyeing Sevier County — whether for a primary residence, a second home, or an investment property — this is the most favorable buying environment the area has seen in years. If you are a seller, the most important thing you can do right now is look at what has actually closed in the last 30 to 60 days and price accordingly. The properties that are selling in Sevier County are the ones priced at or below recent comparable sales. Everything else is sitting.

Farragut — The Tightest Market in the Region

Farragut continues to operate in a category of its own within the East Tennessee real estate landscape. The median sale price surged to $769,950, up approximately 16% year over year, making it the strongest price appreciation in any market I track. Months of supply sits at just 2.28, the tightest in the region, and the median days on market came in at only 17 days.

Closed sales totaled 44, up roughly 10% from last April. Pending sales came in at 50, down 10.7% compared to last year, which suggests that while the market remains competitive, there are slightly fewer contracts being written than at this time in 2025.

Farragut’s combination of top-rated schools, proximity to Turkey Creek and West Knoxville amenities, and limited buildable land continues to drive premium pricing. Even as other markets in the region soften, Farragut sellers are still commanding near full asking price and moving their homes in under three weeks.

For buyers targeting Farragut, the sub-three-month supply means you still need to come prepared. Work with an agent who knows the neighborhood-level dynamics, get your financing fully underwritten before you start making offers, and be ready to move quickly when the right home hits the market.

Tellico Village — Slow but Strengthening

Tellico Village is a study in contradictions this month. At 79 days, it has the longest median days on market of any area in this report. Closed sales fell to 35, down 18.6% from last April. The list price to original list price ratio of 95.2% suggests that sellers are negotiating more than they would like.

But the forward-looking indicators tell a different story. Pending sales jumped to 45, a 50% increase year over year. Active inventory declined more than 20%, and new listings dropped 23%. The median sale price rose to $665,000, up 6.42%, which means the homes that are closing are closing at higher values.

What this tells me is that Tellico Village buyers are taking their time — which makes sense given the price point and the demographic profile of the community — but they are showing up in significantly larger numbers than they were a year ago. The shrinking inventory combined with rising pendings is a leading indicator that the market is tightening, even if the days on market number has not caught up yet.

If you are selling in Tellico Village, the data says your buyer pool is growing. The challenge is bridging the gap between what buyers want to pay and what you want to accept. Homes that are priced realistically and show well are getting under contract. Homes that are priced based on what the neighbor’s house sold for in 2023 are not.

Lenoir City — The Comeback Story of the Month

Lenoir City delivered the strongest closing performance in the region in April. Closed sales hit 49, a 36.1% surge compared to last year. Pending sales rose 18.8% to 57 contracts. The median days on market came in at just 16 days, tied with Farragut for the fastest pace in the area. Months of supply sits at 3.27, and the sold price to original list price ratio of 96.2% is solid.

The catalyst behind this surge is clear when you look at the median price. It came in at $420,000, down 11.06% from last April. Sellers adjusted their pricing, and buyers responded with overwhelming demand. This is the same dynamic playing out in Loudon County, and it is the single best proof point in this entire report that realistic pricing is the most powerful tool a seller has in this market.

Lenoir City’s proximity to Tellico Lake, access to Loudon County schools, and relative affordability compared to Farragut and West Knoxville make it an increasingly attractive option for families and retirees alike. If you have been considering a move to this part of Loudon County, the current pace of sales suggests that the best-priced homes are not lasting long.

The Bigger Picture — Rates, Oil, and Inflation

No local market analysis is complete without understanding the macro forces at play. As of late April 2026, the 30-year fixed mortgage rate sits at approximately 6.65%. Crude oil is trading above $110 per barrel, driven in large part by geopolitical tension in the Strait of Hormuz, which handles roughly 20% of global oil supply. The Consumer Price Index shows inflation running at 3.8%, still well above the Federal Reserve’s 2% target.

These three numbers matter enormously for the East Tennessee housing market. Elevated mortgage rates continue to create a lock-in effect where existing homeowners who secured rates in the 3% to 4% range during 2020 and 2021 are reluctant to sell because buying their next home means nearly doubling their monthly payment. This suppresses listing volume. At the same time, those same high rates reduce purchasing power for buyers, particularly first-time buyers who do not have equity from a previous sale to offset the higher borrowing costs.

Until mortgage rates move meaningfully below 6%, the East Tennessee market is likely to remain in this state of compressed volume — fewer sellers willing to list and fewer buyers able to qualify — with pockets of intense competition in the most desirable sub-markets and growing buyer leverage in areas with higher inventory.

What This Means for You

The April 2026 data makes one thing abundantly clear. There is no single East Tennessee housing market. There are multiple markets operating under very different conditions within the same metropolitan area. Farragut and Lenoir City are humming. Knox County is steady but slowing. Sevier County is firmly in buyer territory. And several markets in between are in various stages of finding their footing.

Whether you are buying or selling, the most important thing you can do right now is work with someone who understands these micro-market dynamics and can help you make decisions based on current data rather than last year’s headlines.

If you have questions about what your home is worth today, what the right offer strategy looks like in your target neighborhood, or how to position your property to sell in the current environment, I am here to help. I track these numbers every single month because I believe informed clients make better decisions — and better decisions lead to better outcomes.

Troy Stavros
CornerStone Realty Associates, 865-999-0925
Serving Knox, Blount, Anderson, Loudon, Roane & Sevier Counties

Want to receive this market update in your inbox every month? Reach out to Troy Stavros at CornerStone Realty Associates to get on the list. Whether you are actively searching, casually exploring, or just want to stay informed about East Tennessee real estate, these insights are always free.

East Tennessee Housing Market Update — March 2026: What Buyers and Sellers Need to Know Right Now

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If you’re thinking about buying or selling a home in Knoxville, Knox County, or anywhere in the greater East Tennessee region, the March 2026 numbers deserve your attention. The market is shifting … not crashing, not booming, but recalibrating in ways that create real opportunities if you know where to look and real risks if you don’t.

Every month, we pull the latest data from the East Tennessee MLS across our six-county service area: Knox, Blount, Anderson, Loudon, Roane, and Sevier counties, and break down what the numbers actually mean for people making real decisions about real estate. This month’s data tells two very different stories depending on where you’re looking and whether you’re on the buying or selling side of the transaction.

Here’s everything you need to know.

The Big Picture: East Tennessee Real Estate in March 2026

Across the six-county East Tennessee market, the headline numbers look soft. Closed sales are down year-over-year in most counties, and inventory continues to build in some of the outlying markets. If you stopped there, you might think the market is in trouble.

But the story underneath the surface is more nuanced. Pending sales — which are the best leading indicator we have of where the market is heading over the next 30 to 60 days — are climbing in nearly every county. In some cases, they’re climbing significantly. That disconnect between closings and pendings tells us something important: buyer activity is picking up, but the deals haven’t hit the closing table yet. The spring market may be arriving late, but it appears to be arriving.

At the same time, the macroeconomic backdrop is putting pressure on affordability that wasn’t there a year ago. Mortgage rates remain stubbornly above 6.3%, oil prices have pushed past $100 per barrel for the first time since 2022, and real wages — when adjusted for inflation — are actually declining. All of that matters because it shapes what buyers can afford and what sellers can realistically expect.

Knox County Housing Market: The Engine of the Region

Knox County remains the largest and most closely watched market in East Tennessee, and the March numbers reflect a market that’s cooling on the surface but heating up underneath.

Closed sales in Knox County fell 16.7% year-over-year in March. That’s a meaningful decline, and it’s the kind of number that grabs headlines. But context matters. Part of that decline is a comparison issue — March 2025 was an unusually strong month. And more importantly, pending sales in Knox County rose 10.5% over the same period. That means more buyers are going under contract now than they were a year ago, even if fewer deals closed last month.

For sellers in Knox County, this means the market still has demand, but you need to be realistic about pricing. Overpriced homes are sitting. Homes priced correctly for the current rate environment are still moving, and in many neighborhoods, they’re moving with multiple offers. The days of listing 10% above comps and expecting a bidding war are behind us for now, but the days of well-priced homes selling quickly are not.

For buyers in Knoxville and Knox County, the math is actually improving. You have more inventory to choose from than at any point in the last three years, and the urgency that defined the 2021–2023 market has faded. That gives you negotiating leverage that simply didn’t exist before. If you’ve been waiting for a window, this may be it — especially if rates ease later this year.

Blount County Real Estate: Still One of the Tightest Markets in the Region

Blount County continues to be one of the most competitive markets in East Tennessee, and the March data reinforces that. While inventory has loosened slightly compared to the peak tightness of 2022 and 2023, Blount County still operates with relatively low months of supply compared to its neighbors.

Maryville and Alcoa remain popular with buyers who want proximity to Knoxville without Knoxville price tags, and the school systems in Blount County continue to be a draw for families relocating to the area. Demand here hasn’t softened as much as in some of the other counties, which means sellers in Blount County are in a relatively strong position — particularly if they own homes in the sub-$400,000 range where buyer activity is most concentrated.

If you’re looking to buy in Blount County, be prepared for a market that feels slightly more competitive than what you’ll find in Knox or Anderson County right now. Good homes in desirable neighborhoods are still generating interest quickly, and while you have more room to negotiate than you did two years ago, you may not have as much room as you’d find in some of the outer-ring counties.

Anderson County Housing Market: Pending Sales Surge 15.7%

Anderson County is quietly having one of the stronger springs in the region. Pending sales jumped 15.7% year-over-year in March — a number that stands out across the entire six-county area. Communities like Oak Ridge, Clinton, and Norris are seeing renewed buyer interest, and the county’s relative affordability compared to Knox and Blount is a significant factor.

For buyers who are priced out of West Knoxville or South Knoxville but still want to commute into the city, Anderson County offers a compelling value proposition. Median home prices here remain well below the Knox County median, and the inventory situation gives buyers more options and more time to make decisions without the pressure of immediate competition.

Sellers in Anderson County should take note of the pending sales momentum. If you’ve been on the fence about listing, the data suggests that buyer activity is accelerating here. Homes that are clean, well-maintained, and priced appropriately for the Anderson County market are finding buyers — and the spring selling season appears to be gaining traction.

Loudon County Real Estate: A 35% Jump in Pending Sales

The standout number in the entire six-county region this month belongs to Loudon County, where pending sales surged 35% year-over-year. That’s not a typo, and it’s not a small-sample-size anomaly. Something is happening in Loudon County.

Lenoir City and the lakefront communities along Tellico Lake and Fort Loudoun Lake continue to attract retirees, second-home buyers, and remote workers who want a more rural lifestyle within striking distance of Knoxville. The county’s combination of natural beauty, relative affordability, and lifestyle appeal is resonating with a buyer pool that appears to be growing.

For sellers in Loudon County, this pending sales surge is a strong signal. Demand is building, and if you’ve been waiting for the right time to list, the spring market is shaping up favorably. For buyers, the opportunity here is getting in ahead of what could be a tightening market later in the year. If pending sales continue at this pace, inventory will start to compress, and the leverage buyers currently enjoy may not last through summer.

Roane County: The Sleeper Market Nobody’s Watching

Roane County rarely makes headlines in East Tennessee real estate conversations, and that’s precisely why it deserves attention. The county — anchored by Harriman, Kingston, and Rockwood — offers some of the most affordable housing in the region, and the March data shows a market that is quietly healthy.

For buyers looking for value, Roane County is where you’ll find it. Median prices remain significantly below the regional average, and the inventory situation is favorable for buyers who want time and options. This is not a market defined by bidding wars or waived inspections. It’s a market where you can buy a solid home at a reasonable price with room to negotiate.

For investors, Roane County’s price-to-rent ratios are among the most attractive in the region. If you’re building a rental portfolio in East Tennessee and you’re finding Knox County cap rates too compressed, Roane County warrants a serious look.

Sellers in Roane County should understand that this is a more patient market. Homes take longer to sell here than in Knox or Blount, and pricing precision matters more. But the fundamentals are stable, and well-priced properties are transacting.

Sevier County Housing Market: 9 Months of Supply and a Shifting Landscape

If there’s one county in our service area where the data raises real questions, it’s Sevier County. Months of supply have pushed past 9 months — a level that, by traditional real estate metrics, places the county firmly in buyer’s market territory. Closings are down, and the overall trajectory has been softening for several consecutive months.

The Sevier County market is unique because of its heavy dependence on short-term rental investment properties. Gatlinburg, Pigeon Forge, and Sevierville have been among the hottest short-term rental markets in the country for the past five years, and the influx of investor capital drove prices to levels that look stretched by almost any conventional metric. Now, as short-term rental revenue softens in some segments and regulatory conversations continue at the local and state level, some of that investment thesis is being tested.

For buyers interested in Sevier County — whether for a primary residence, a vacation home, or an investment property — the leverage has shifted meaningfully in your favor. There are more options, more negotiating room, and more motivated sellers than at any point since the pandemic began. If your investment underwriting works at current prices, the buying environment is favorable.

For sellers in Sevier County, the message is straightforward: price matters more here than anywhere else in the region right now. With 9 months of supply on the market, overpriced listings are being ignored entirely. The properties that are selling are the ones priced to reflect current conditions, not conditions from 2022 or 2023. If you need to sell, work with an agent who understands the current Sevier County data and can position your property to stand out in a crowded market.

Core Markets vs. Outer Ring: Two Very Different Stories

One of the most important themes in this month’s data is the divergence between what we call the core markets — Knox and Blount counties — and the outer ring markets of Anderson, Loudon, Roane, and Sevier counties.

The core markets are performing with more resilience. Demand remains relatively stable, inventory is manageable, and the fundamental drivers of value — jobs, schools, healthcare, infrastructure — continue to attract buyers. Knox and Blount counties benefit from the gravitational pull of Knoxville’s economy, the University of Tennessee, and a healthcare sector that employs tens of thousands of people. These are markets where demand has a floor because people need to live near where they work.

The outer ring tells a more varied story. Anderson and Loudon counties are seeing surging buyer interest, driven largely by affordability migration from the core. Roane County is stable but quiet. And Sevier County is dealing with the consequences of a short-term-rental-driven price expansion that is now correcting.

This divergence matters because it means there is no single “East Tennessee housing market.” There are multiple markets operating under the same regional banner, each with its own dynamics, its own supply-demand balance, and its own set of opportunities and risks. The worst mistake you can make — whether you’re buying or selling — is assuming that the conditions in one county apply to another.

The Macro Picture: Why It Matters for East Tennessee Home Buyers and Sellers

Real estate is local, but it doesn’t operate in a vacuum. Several macroeconomic factors are shaping the environment for home buyers and sellers in East Tennessee right now, and ignoring them would be a mistake.

Mortgage rates remain above 6.3% as of mid-April 2026. For a buyer purchasing a $350,000 home with 10% down, that translates to a monthly principal and interest payment of approximately $1,960 — a number that is meaningfully higher than it would have been at the sub-3% rates available in 2021. Rates are the single biggest factor affecting affordability right now, and until they come down materially, the buyer pool for higher-priced homes will remain constrained.

Oil prices have pushed above $100 per barrel, driven in part by geopolitical tension surrounding Iran and broader supply concerns. Energy prices feed into everything — transportation costs, construction material costs, and the general inflationary environment that has kept the Federal Reserve cautious about cutting rates. Higher oil prices are not directly a housing market story, but they contribute to the cost-of-living pressure that limits how much buyers can stretch for a home purchase.

Real wages — what workers earn after adjusting for inflation — are declining. According to the latest BLS data, the purchasing power of the average paycheck is lower today than it was a year ago. For a region like East Tennessee, where median household incomes are below the national average, this is a significant headwind. Buyers are feeling squeezed from multiple directions: higher rates, higher prices, and stagnant or falling real purchasing power.

The wildcard remains Iran and the broader geopolitical situation. Any escalation that further disrupts global energy markets could push oil higher, which would put upward pressure on inflation, which would keep the Fed from cutting rates, which would keep mortgage rates elevated. It’s a chain reaction that starts far from Knoxville but ends at the closing table.

What This Means If You’re Buying a Home in East Tennessee

If you’re a buyer in today’s East Tennessee market, here is where you stand. You have more inventory than at any point in the last three to four years. You have negotiating leverage that didn’t exist during the pandemic market. And you have time — in most markets, the frantic pace of 2021 through 2023 has given way to a more measured, more rational process where you can conduct inspections, negotiate repairs, and make informed decisions without feeling like the house will be gone by tomorrow.

The trade-off is affordability. Rates above 6.3% mean your monthly payment is higher than it would have been in a lower-rate environment, even if the purchase price hasn’t changed. The question every buyer has to answer is whether today’s combination of better inventory, better negotiating position, and better terms outweighs the higher monthly cost of financing.

Our view is that for buyers who plan to own for five or more years, the current environment is favorable — particularly in Knox, Blount, Anderson, and Loudon counties where the fundamental demand drivers are strong. If rates decline in the future, you can refinance. What you can’t do is go back in time and buy at today’s prices if the market tightens.

What This Means If You’re Selling a Home in East Tennessee

If you’re a seller, the message depends heavily on where your property is located and how it’s priced. In Knox and Blount counties, well-priced homes are still selling within reasonable timeframes, and the pending sales data suggests that buyer activity is increasing heading into the spring. If you price correctly and present well, you’re in a solid position.

In the outer-ring counties, patience and pricing are even more critical. Anderson and Loudon counties have strong pending momentum, but Roane and especially Sevier counties require careful strategy. If you’re selling in Sevier County right now, you’re competing against a significant amount of inventory, and the only way to stand out is to be the best value in your price range.

Across the board, the sellers who are succeeding in this market share a few characteristics: they price based on current data rather than peak prices, they invest in presentation before listing, and they work with agents who understand the hyperlocal dynamics of their specific market. The sellers who struggle are the ones still anchored to 2022 expectations in a 2026 market.

Looking Ahead: April and May 2026

Based on the pending sales data, we expect April and May closings to improve across most of the six-county region. The pending-to-closing pipeline suggests that the spring market is gaining momentum, and if that momentum holds, we should see better year-over-year comparisons in the months ahead.

The unknowns are on the macro side. If geopolitical events push oil and inflation higher, that could keep rates elevated and dampen the spring surge. If the situation stabilizes and the Fed signals any movement toward rate cuts, buyer confidence could accelerate quickly. We’re watching both scenarios closely and will update the data every month.

Work With an Agent Who Knows the Numbers

At the end of the day, data doesn’t buy or sell houses — people do. But the people who make the best decisions are the ones working with the best information. Whether you’re buying your first home in Knoxville, selling a property in Blount County, investing in Loudon County, or trying to make sense of the Sevier County market, we’re here to help you understand what the numbers mean for your specific situation.

If you found this market update helpful, subscribe to our monthly updates so you never miss the latest data. And if you’re ready to have a conversation about buying or selling in East Tennessee, reach out to our team today. No pressure, no obligation — just honest, data-driven guidance from people who live and breathe this market every day.

Troy Stavros, CornerStone Realty Associates – 865-999-0925 – Troy@865realestate.com