Franklin, TN, Real Estate Alternative to Nashville

Real estate

Franklin, TN is located just 15 miles from Nashville and has been drawing population to itself from people relocating with their jobs to the Nashville and Middle Tennessee area. Franklin began is a pretty little town that emerged from the once primarily farming community. Money Magazine has rated it in both the Top 100 and Top Ten Best Places to Live in the U.S. It was also recognized as the Top Tennessee town to live in, and has received numerous awards for trees, beauty and preservation. The historic section of downtown is beautifully lined with brick sidewalks and historic buildings that have been totally renovated. There are a remarkable five National Register Historic Places located here. Information on Franklin can be obtained by calling (800) 356-3445.

Demographics for the city can be found on their official web site and are from the 2000 Census. Some interesting facts about demographics may help to give people an idea about the make-up of this town. 42% of the population has a college education or higher. The per capita income is around $6,000 over the country’s average and the family income is a healthy $69,431. The median value for a home is $184,500, compared to the median for the country at $119,600. There is one medical center here but Vanderbilt and larger facilities are just right down the road in Nashville.

 

There are homes in this town selling for around $120,-$140 per sq. ft. it appears. This is true of homes below $200,000, generally speaking. I was surprised to find so many condos/townhomes in this town in this price range. Many have just 1 bath, but some have 1.5 or 2 baths. I found that with many homes priced $150,000-$200,000, the price per sq. ft. seems to go down, but those over this are priced higher. Many of the homes in the $200,000-$400,000 price range are newer subdivisions and have quite wonderful amenities. A new development, Gateway Village is quite expensive per sq. ft. at around $230. And these are smaller homes, priced at $247,000 for 2 bedroom, 2 bath townhomes.

 

Above $300,000 you get into the luxury style homes. Sullivan Farms, Forest Crossing, Royal Oaks, Ralston Glen and Gateway Village are some of the upscale subdivisions. I found a 3 bed, 3.5 bath home with 2,791 sq. ft. that is selling for $329,500. It has a spa, deck, hardwoods and tile, and additional amenities of a community swimming pool, tennis courts, golf, and recreation facilities.

 

There are properties from $3 million to $8 million but the higher priced properties in this range are generally priced for the high acreage and not just for the homes. Most of the homes in the million dollar range, needless to say, are extremely luxurious with hardwoods, multi-car garages, decks, sometimes pools, patios, landscaping, security, high ceilings, luxury entrances and special moldings.