Springfield, TN housing market
Typical home value
$330K
▲ 0.4% 1 yr
Typical rent
$1,534/mo
▼ 1.4% 1 yr
Gross rent yield
5.6%
U.S. 6.3%
5-year home value change
+21%
U.S. +20%
Key takeaways
- 1The typical home in Springfield is worth $329,765, up 0.4% over the past year and up 21% over five years.
- 2Typical rent is $1,534 a month (−1.4% YoY), a gross rent yield of 5.6% (above the Nashville, TN metro's 4.8%).
- 3With 20% down at 7.32%, principal and interest on the typical home is about $1,812/mo, $278 more than typical rent.
- 4Zillow forecasts the Nashville, TN metro's home values to change +0.2% over the next 12 months.
Market temperature (Nashville, TN metro)
Strong buyer's market
Buyer'sNeutralSeller's
Zillow Market Heat Index: 19/100, #536 hottest of 546 metros. Below 44 favors buyers; above 55 favors sellers.
Home values and rent
Source: Zillow Research (ZHVI, ZORI and market activity data).
How Springfield compares
| Measure | Springfield | Nashville, TN metro | United States |
|---|---|---|---|
| Typical home value | $329,765 | $448,896 | $366,157 |
| Home value, 1-yr change | +0.4% | −0.5% | +1.2% |
| Typical rent | $1,534 | $1,803 | $1,932 |
| Rent, 1-yr change | −1.4% | +1.2% | +2.7% |
| Gross rent yield | 5.6% | 4.8% | 6.3% |
| Price-to-rent ratio | 17.9 | 20.7 | 15.8 |
| Mortgage P&I, typical home | $1,812 | $2,467 | $2,012 |
Run the numbers
Rental property calculator
Cash flow on a typical Springfield rental, pre-filled.
Rent vs buy in Springfield
Which costs less over the years you'll stay.
Mortgage calculator
Monthly payment on a $330K home.
Other cities in the Nashville, TN metro
Nashville, TN
$426K home$1,820 rent
▼ 2.5% 1 yr
Murfreesboro, TN
$424K home$1,679 rent
▼ 0.5% 1 yr
Franklin, TN
$913K home$2,038 rent
▲ 3.0% 1 yr
Hendersonville, TN
$515K home$1,651 rent
▲ 0.6% 1 yr
Lebanon, TN
$442K home$1,613 rent
▲ 1.2% 1 yr
Columbia, TN
$369K home$1,584 rent
▲ 0.9% 1 yr
Mount Juliet, TN
$557K home$2,124 rent
▲ 0.6% 1 yr
Smyrna, TN
$401K home$1,712 rent
▼ 0.8% 1 yr
City figures are Zillow's typical home value (ZHVI) and observed rent (ZORI). Gross yield is before expenses. Data refreshed Oct 26, 2026.