Springfield, TN 37172 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Springfield, TN—37172

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$329,000

0.6% YoY Growth

Household Income

$71,100

27.4% YoY Growth

Days on Market

11.0% Shorter YoY

Home Price Forecast

1.6%

Median Rent

$1,780

0.6% YoY Growth

1-Bed Rent

$1,150

N/A

2-Bed Rent

$1,300

1.4% YoY Growth

3-Bed Rent

$1,800

2.7% YoY Growth

Home Price Trends — Springfield, TN

As of Dec '25, the median home price in Springfield, TN is $329,000, with a year-over-year change of -0.6%. This indicates that home prices in Springfield, TN are flat. According to Zillow, the 1-year price projection is 1.6%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$329,000	-0.6%
Single Family	$332,000	-0.6%
Condos	$156,000	4.7%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Springfield, TN

As of July '25, Rentcast reports the average rent in Springfield, TN is $1,790, with a year-over-year rent change of -0.6%. Per bedroom, the median rent as of July '25 in Springfield, TN is studios: $2,200, 1-bedrooms: $1,200, 2-bedrooms: $1,470, 3-bedrooms: $1,880, 4-bedrooms: $1,980. The most common rental property sizes in Springfield, TN are 2-bedroom and 3-bedroom, accounting for 39.0% and 34.3% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$1,780	$1,790
Studio Rent	$2,200	$2,200
1 Bed Rent	$1,150	$1,200
2 Bed Rent	$1,300	$1,470
3 Bed Rent	$1,800	$1,880
4 Bed Rent	$1,960	$1,980

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% of Rental Stock

Studio

3.7%

1 Bedroom

12.6%

2 Bedrooms

39.0%

3 Bedrooms

34.3%

4 Bedrooms

9.9%

5+ Bedrooms

0.4%

Property Listings — Springfield, TN

As of Dec '25, Realtor.com reports that the median days on market for a home in Springfield, TN is 46. This is a decrease of -4.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 18.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$424,000	-1.0%
Listing Count	146	0.0%
Listings as % of Homes	1.1%	0.0%
Days on Market	60	-11.0%

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Demographics — Springfield, TN

As of the latest ACS Survey released in 2023, Springfield, TN has a population of 31,400, which has increased by 7.6% over the past 5 years. Springfield, TN is a moderately popular place for families, as children make up 24.3% of the population. The area has a poorly educated workforce, with 19.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.6% reporting working from home.

Metric	Latest Census	YoY % Change
Population	31,400	7.6%
% Under 18	24.3%	7.0%
% Seniors	15.8%	10.5%
% WFH	8.6%	168.7%
% w/ College Degree	19.1%	25.7%

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As of the latest ACS Survey released in 2023, Springfield, TN is a predominantly white area, with 65.2% of the population identifying as white. The white population has shrunk by 10.1% in the last 5 years. The second most common race or ethnicity in Springfield, TN is hispanic, making up 17.3% of the population. Foreign-born residents account for 9.9% of the population in Springfield, TN, and this percentage has increased by 52.3% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

Race and Ethnicity

Metric	Latest Census	5-Year % Change
% White	65.2%	-10.1%
% Black	13.0%	-1.5%
% Hispanic	17.3%	47.9%
% Asian	0.6%	0.0%
% Foreign Born	9.9%	52.3%

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Mortgage and Risk — Springfield, TN

According to HUD data as of 2023, there were 922 mortgage originations in Springfield, TN, of which 69.0% of loans were conventional mortgages. The average loan-to-value was 64.0%, with 32.0% above 90% LTV (very high). This implies large mortgage risk in Springfield, TN. Investor activity is low, as 2.0% of loans were by investors. 15.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	922
% Conventional Loans	69.0%
% Government Loans	31.0%
% Investor Loans	2.0%
% Second Loans	0.0%
% Cash Out Refinance	15.0%

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Rentals and Section 8 — Springfield, TN

As of 2024, the percent of homes in Springfield, TN under the Section 8 program is 6.6%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Springfield, TN, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.

Section 8 Market Size

Total Units under HUD	673
Total Units Section 8	255
% Rentals under Section 8	6.6%
% Occupied Section 8	86.5%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	$220	$1,150	$1,370
2 Bedroom	$220	$1,300	$1,520
3 Bedroom	$120	$1,800	$1,920
4 Bedroom	$400	$1,960	$2,360

Springfield, TN—37172

Key Metrics at a Glance

Home Price Trends — Springfield, TN

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Springfield, TN

% of Rental Stock

Property Listings — Springfield, TN

Demographics — Springfield, TN

Race and Ethnicity

Mortgage and Risk — Springfield, TN

Mortgages

Rentals and Section 8 — Springfield, TN

Section 8 Market Size

Section 8 Opportunity

Affordability — Springfield, TN

Home Price to Income Ratio

Springfield, TN — ZIP Code Boundary Map

Nearby ZIP Codes

Greenbrier, TN

Cedar Hill, TN

Orlinda, TN

Cross Plains, TN

White House, TN

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	4.4
Median Home Price	$329,000
Median Household Income	$71,100

Springfield, TN—37172

Key Metrics at a Glance

Home Price Trends — Springfield, TN

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Springfield, TN

% of Rental Stock

Property Listings — Springfield, TN

Demographics — Springfield, TN

Race and Ethnicity

Mortgage and Risk — Springfield, TN

Mortgages

Rentals and Section 8 — Springfield, TN

Section 8 Market Size

Section 8 Opportunity

Affordability — Springfield, TN

Home Price to Income Ratio

Springfield, TN — ZIP Code Boundary Map

Nearby ZIP Codes

Greenbrier, TN

Cedar Hill, TN

Orlinda, TN

Cross Plains, TN

White House, TN

Frequently Asked Questions

What is the average home price in Springfield, TN 37172?

How have home prices in Springfield, TN 37172 changed over the past year?

What is the home price projection for Springfield, TN 37172?

What are the demographics of Springfield, TN 37172?

How long does it take homes to sell in Springfield, TN 37172?

What is the average rent price in Springfield, TN 37172?