Land for Sale in Tennessee
Home to beautiful mountains, well-known national parks, great food, and rich culture, Tennessee is an illustrious option to purchase land. Known as the Volunteer State, Tennessee is built on agriculture and rich history and there are many different options to purchase land.
If you’re interested in buying land in Tennessee, you need to know where to look, what type of land you want to buy, who you want to buy it from, and where to find the cheapest land in Tennessee. Your purchase could also be a great return on investment.
Grabbing a piece of land in Tennessee is well worth the venture and you won’t be disappointed.
Finding Land for Sale in Tennessee
Buying land in Tennessee makes sense for a few different reasons. You can buy farmland which in turn could make you a lot of money. Or you could purchase land to have areas to go hunting, fishing, or hiking just for adventure.
Land prices are relatively cheap compared to other states, so buying farmland could be a nice investment, and the state is ranked among the top ten best states for retirement. So, if you’re in search of a state with stunning history and beautiful sights, then stop your search because Tennessee has what you’re looking for.
To search for properties in Tennessee, your best bet is to use trusted websites such as Zillow.com, Landwatch.com, or propertyshark.com. These sites offer a reliable resource for finding land in Tennessee, listing the owners, multiple pictures of the land, price comparisons, and contact information if interested in purchasing properties.
Currently, there are 535,954 acres of land for sale in Tennessee according to Landwatch.com. Forty percent of the state’s land area is farmland and that totals to about 77,000 farms across the state. It’s a vital industry to the state and ranks eighth in the country for its number of farms and No. 1 in terms of commodity for cattle.
And as you go on your search, you’ll begin to notice a few things about Tennessee’s large landscape. Because of how prominent farming is in the state, there is a lot of rural land for sale in the state.
Farming is one of the heartbeats of the state. Timber, soybeans, cattle products, chicken, and corn represent the cornerstones of the farming industry in Tennessee. It’s also a top 10 state in terms of cattle, tobacco, hay, tomatoes, cotton, and snap bean production.
Farmland for Sale in Tennessee
With over 1,000 listings on Landwatch.com, it’s relatively easy to find farm land for sale in Tennessee. Many of the properties offer ranches in secluded areas, where you can do activities such as hiking, horseback riding, fishing, or hunting.
The average market price for farms for sale was $1 million and the state has 29 major reservoirs and 19,000 miles of warm and cold water streams. So if you like to fish, there are over 300 species of fish to fish for, which includes bass, crappie, trout, and catfish.
If you’re an avid hunter, big game species in Tennessee include bear, deer, red deer, turkey, and elk are available for hunting. And different counties offer different types of farms depending on what you’re looking for.
Mountain farms, waterfront farms, timber farms, recreational farms, and hunting farms are the most popular in the state. If you’re trying to make a profit on some land, try looking into an agriculture farm. And particularly a soybean crop. Soybeans bring in about 11 percent of Tennessee’s agricultural receipts.
You have plenty of options for different farms to purchase. So just take your pick. For agricultural sales, the top five counties in Tennessee were Bedford County, Weakley County, Robertson County, Obion County, and Gibson County, according to acetrader.com. Williamson County has the largest listing of farm land for sale on Landwatch.com, with 56 properties for sale.
A farm in this county could cost you as much as $10.5 million or as little as $364,000, depending on the type of farm you are searching for. The county is home to Franklin, Tennessee. It’s ranked as the eighth fastest-growing city in the nation and is rich in history.
Land for Sale by Owner in Tennessee
If you’re in search of something smaller, then there’s a good bit of land for sale by owners, who have small acres up for sale. Depending on the owner, some of the land for sale is available to be financed.
With owner financing land purchases, you have to pay a down payment, but those are usually negotiable. The closing costs can sometimes be cheaper and the process is sometimes faster and smoother.
However, owner-financed land can lead to higher interest rates or more than what traditional lenders may offer. It’s best to pay off owner-financed land as soon as possible so interest does not accrue. Some finance terms can offer a balloon payment, which is a lump sum payment made at the end of a loan.
Depending on the landowner, you could also be offered partial financing, where the owner can finance the difference. If planning to finance land through a landowner, just be sure to discuss whatever payment options that might be available to you.
You can purchase as little as 0.5 acres or as big as 6,000 acres from landowners according to listings on Landwatch.com. Many of the listings for sale by the owner include land in rural areas or land near subdivisions or communities.
This type of land is often sold to companies, small business owners, or retailers looking to build new stores or expand their businesses. So, if you’re in search of a new place to open up your business, then definitely check out that type of land.
Where is the Cheapest Land in Tennessee?
On a tight budget for land? Don’t worry we’ve got you covered. Tennessee has been ranked as a top-five state for purchasing cheap land in the country. It may take some time to find what you’re looking for but have a little patience because there’s lots of land in Tennessee.
If you’re in search of inexpensive land in Tennessee, then Crossville is your best bet.
You can purchase an acre of land for $3,499 according to a current listing on Landwatch.com. This area of Tennessee is regarded as the “Golf Capital of Tennessee” with 10 championship golf courses in the region. It’s a small town, with a population of a little over 10,000, and is a very quiet city.
With its nine golf courses, mountains, and bike trails, this city would be a great location if you were in search of a city to buy land and retire in. The closest major city to Crossville in Knoxville, which is about an hour away.
Cheap land in Tennessee can also be bought in Harriman, however, the price for an acre is nearly double the price for an acre in Crossville. One acre of land will run you $5,700 in Harriman.
The population is also smaller, home to 6,500 residents, but it’s home to the American Temperance Building, a beloved historical landmark. Harriman is also a short ride to Knoxville if you wanted to be in a bigger city environment.
How Much Does an Acre of Land Cost in Tennessee?
Currently, an acre of land in Tennessee is going to cost you $3,990. The state ranks 18th in the country in terms of prices per acre and 29th in terms of farmland returns. Farmland prices have risen over the last 20 years, by an average of 3.3 percent per year.
Ten years ago, an acre in Tennessee would cost you $3,310. With the price of land in Tennessee relatively cheap, if you were to purchase farmland or non-farmland, there would be a great chance for a return on investment.
The state generates about $300 million annually in lumber sales and more than $3 billion annually in farm cash receipts. So, the rewards would likely outweigh the risks if you decided to buy land in Tennessee.
What is the Prettiest City in Tennessee?
In 2018, Gatlinburg was named the prettiest city in Tennessee by Architectural Digest. The city is considered the gateway to the Smoky Mountains, a 520,000-acre mountain park. Gatlinburg was also ranked as one of the top 12 cities to visit in Tennessee by US News and World Report.
It’s a popular tourist attraction and vacation resort with miles and miles of hiking trails in the mountains and was ranked one of the mountain towns to visit in America by Us News and World Report. The Gatlinburg Scenic Overlook shows off their skyline and other scenery surrounding the Smoky Mountain Parks.
And if you want more beautiful views of the city, then you could try out the Gatlinburg Space Needle. It’s 407 feet tall and this observation tower is great for taking in extensive views of the city and the Smoky Mountains. There’s also the Ober Gatlinburg Tramway, which is a 2.1-mile cable car ride offering aerial views of the city and Smoky Mountains.
Not a fan of heights? Don’t worry, the city offers attractions that you can enjoy without going too high.
There’s a 5.5-mile nature trail minutes away from downtown Gatlingburg. 19th-century buildings, old-growth forests, and mountain views are all highlights on this trail. The Anakeesta park also gives visitors a great view of Gatlinburg. It overlooks downtown and has a dueling zipline course, a shopping area, and a playground for kids.
With all these great attractions and views, land in Gatlinburg is going to put a dent in your pockets. An acre of land in Gatlinburg will cost you $197,000 according to a listing on Landwatch.com.
Outro
With these areas and tips in my mind, here comes the hard part. Buying land can be a long process. The paperwork, negotiations, and dealing with land owners can be rough, but it’ll all be worth it in the end.
Be prepared to wait for the purchase to go through, get a survey of the land, and take a look at the landfall in the area. Ultimately just be ready for anything as it’s not a simple process.