Spring Hill, TN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Spring Hill Neighborhoods Since 2000




Spring Hill, TN Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Spring Hill Housing Market Information

With a population of 36,055, 10,685 total housing units (homes and apartments), and a median house value of $275,510, Spring Hill real estate is some of the most expensive in Tennessee, although Spring Hill home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Spring Hill, accounting for 83.37% of the city's housing units. Other types of housing that are prevalent in Spring Hill include large apartment complexes or high rise apartments ( 8.80%), duplexes, homes converted to apartments or other small apartment buildings ( 4.13%), and a few row houses and other attached homes ( 3.03%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Spring Hill. Owner-occupied housing accounts for 78.15% of Spring Hill's homes, and 79.42% have either three or four bedrooms, which is average sized relative to America.

Spring Hill homes and real estate are some of the newest in America. 76.73% of Spring Hill's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Spring Hill real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 22.04%), and between 1940-1969 ( 1.23%).

Spring Hill Home Appreciation Rates

In the last 10 years, Spring Hill has experienced some of the highest home appreciation rates of any community in the nation. Spring Hill real estate appreciated 16.90% over the last ten years, which is an average annual home appreciation rate of 1.57%, putting Spring Hill in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Spring Hill definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Spring Hill that despite a nationwide downturn in the housing market, Spring Hill real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Spring Hill appreciation rates continue to be some of the highest in America, at 6.16%, which is higher than appreciation rates in 75.38% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Spring Hill. Spring Hill appreciation rates in the latest quarter were at 2.76%, which equates to an annual appreciation rate of 11.51%.

Importantly, this makes Spring Hill one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Tennessee, our data show that Spring Hill's latest annual appreciation rate is higher than 70% of the other cities and towns in Tennessee.

Average Home Values

 

Median Home Value:
$275,510

Spring Hill, TN HOME PRICES

Value Range
> $1,248,000 0.2
$936,001 - $1,248,000 0.4
$624,001 - $936,000 1.5
$500,001 - $624,000 4.5
$375,001 - $500,000 14.4
$250,001 - $375,000 33.9
$125,001 - $250,000 39.7
$62,001 - $125,000 3.6
$0 - $62,000 1.9

Very High for TN
Very High for Nation

Value Relative to Nation Value Relative to State
18.9382397749912 5.86734693877551

Number Of Homes And Apartments:
10,685

Spring Hill Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TN*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
53.51% 2.52% 9 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,911 / per month

Homeownership Rate

Homeownership
Owners 78.15
Renters 21.85
Vacant 2.42

Housing Market Details

 

Age of Homes

AGE OF Spring Hill HOMES
2000 or Newer 76.7
1970 - 1999 22.0
1940 - 1969 1.2
1939 or Older 0.0

Types of Homes

TYPE OF Spring Hill HOMES
Single-Family 83.4
Townhomes 3.0
Small Apt. Buildings 4.1
Apt. Complexes 8.8
Mobile Homes 0.7
Other 0.0

Home Size

SIZE OF Spring Hill HOMES
No Bedroom 0.00
1 Bedroom 2.83
2 Bedrooms 10.58
3 Bedrooms 46.82
4 Bedrooms 32.60
5 or more bedrooms 7.16

Popular Neighborhoods in Spring Hill

Zip Codes in Spring Hill, TN