Buying a Home in Franklin, TN: Prices, Property Taxes and Loan Limits

Buying in Franklin: The Local Numbers

Prices, property taxes, the loan limit and cash to close, each with its source.

What Homes Sell for in Franklin

Over the past year, the median sale price of a single-family home in Franklin has run about $1.1 million a month, from roughly $1.03 million to $1.15 million (RealTracs, closed sales, September 2025 to September 2026). The average runs higher because a few large sales pull it up, so the median is the better guide. Counting condos and townhomes, the median for all home types was $863,000 for the three months ending September 2026 (Redfin).

Brentwood prices run higher, and a Brentwood address can be inside the city, outside it, or in Davidson County, each with its own property tax rate. See buying a home in Brentwood. Just south, Thompson’s Station prices run lower, and so does its town rate. See buying a home in Thompson’s Station. Comparing more cities? See buying a home in Middle Tennessee.

Franklin Property Taxes in 2026

Your tax depends on two lines: Franklin’s city limits, and the Franklin Special School District (FSSD), a separate taxing district whose boundary doesn’t match the city’s. Tennessee assesses a home at 25% of its appraised value and taxes each $100 of that assessed value (Tennessee Comptroller). A $1,000,000 home is assessed at $250,000:

Where the home is	2026 rate per $100 of assessed value	Yearly tax on a $1,000,000 home
Inside Franklin city limits, outside the FSSD	$1.5660	About $3,915
Inside Franklin city limits and the FSSD	$2.2433	About $5,608
Outside city limits, outside the FSSD	$1.3000	About $3,250
Outside city limits, inside the FSSD	$1.9773	About $4,943

Rates from Williamson County’s 2026 tax rates. The county taxes its own appraised value, which can differ from your price. My mortgage calculator has these rates built in.

When Property Tax Bills Come Due

Williamson County mails property tax bills in early October to whoever owned the home on January 1. They’re due by February 28, and unpaid taxes add 1.5% a month after that (City of Brentwood). Tennessee taxes are paid in arrears, so at closing the seller usually credits you their share of the current year.

How to Tell Which Rate Applies

A Franklin mailing address doesn’t mean a home is inside the city. Last year’s tax bill for the home shows each tax it paid, and the listing agent can usually pull it. For the FSSD, the district’s address map shows whether an address is inside it. I check both for any home you’re serious about, before you write an offer.

The 2026 Loan Limit in Williamson County

For a one-unit home, the 2026 limit is $1,029,250 for conforming loans (FHFA) and FHA loans (HUD). With the median single-family home around $1.1 million, many Franklin purchases land near that line. Your loan amount, not the price, decides which side you’re on. Above it, you need a jumbo loan, which I also shop.

Cash to Close

Tennessee’s transfer and mortgage taxes, title insurance, recording fees and prepaid taxes and insurance make up most of what you bring to closing beyond the down payment. See what it costs to close on a home in Franklin, line by line. If you’re moving from another state, my relocation page covers the timing.

From a Recent Franklin File

A buyer’s agent referred a client to me in November 2025. They applied on a Saturday, and their pre-approval went out on Sunday. Their file was in underwriting six days after they applied, and they closed on their Franklin home on Friday, December 5, 20 days after applying. Most pre-approvals go out the same day; here’s how mine work.