Are Home Prices Rising or Falling in Portland, TN?
Portland, a city near Nashville, TN, is a budget-friendly housing market with gradual price growth. Here's why, and what it could mean if you're looking to buy or sell.
The National Picture
At the national level, home prices grew modestly in the three months ending August 2026. The U.S. median sale price hit $399,000, up about 2% from a year earlier. The typical household earns around $88,000, spending roughly 34% of income on housing, which is down about 2 percentage points from last year. Around 20% of listings have seen a price cut, homes sit for a median of 50 days, and there are about four months of supply.
Home Prices in the Nashville Area
Across the Nashville metro, the median sale price is about $480,000, essentially flat from a year ago. The typical metro-area household earns around $96,000 and spends about 36% of that on housing, down about 1.5 percentage points from last year. With 5.4 months of supply and homes sitting a median of 64 days, the Nashville market is more balanced than it was a year ago.
Prices Rise Modestly in a Budget-Friendly Market
Portland's median sale price rose about 3% from a year ago to $330K, keeping it among the most affordable cities in the Nashville metro. At well under the metro median of $480,000, Portland offers a lower price point than many neighboring communities. About 30% of listings have seen a price cut, and homes take a median of 62 days to sell. Around 15% of sales closed above asking, with the typical sale at about 99% of list price. Nearby Manchester saw much steeper growth at 12%, while La Vergne rose a similar 2%.
Why Are Prices Rising in Portland?
Portland's modest price gains come as inventory has grown but demand has held steady. Active listings rose about 13%, even as new listings dipped 7%, and pending sales edged up about 4%. At 4.9 months of supply, the market is balanced. Homes take a median of 62 days to sell, up 4 from last year. The moderate pace of sales and steady demand suggest prices will likely continue their gradual climb.
| Location | Median Price | Price YoY | Price Drops | Months of Supply |
|---|---|---|---|---|
| Portland ★ | $329,772 | +3.1% | 29.7% | 4.9 |
| Manchester | $329,993 | +11.9% | 23.7% | 4.8 |
| La Vergne | $378,549 | +2.3% | 33.4% | 4.6 |
| Columbia | $368,006 | -1.1% | 40.1% | 4.7 |
| Gallatin | $447,154 | +5.2% | 35.2% | 4.8 |
| Spring Hill | $508,284 | -4.1% | 34.6% | 4.1 |
Limited to neighborhoods with at least 10 home sales in the period.
All data comes from Redfin and represents a three-month rolling average ending August 2026. This article has been generated, in whole or in part, using generative artificial intelligence (AI) technology, with input from Redfin head of economics research Chen Zhao. While efforts have been made to ensure the accuracy and reliability of this information, you should independently verify all data, facts, and citations contained in this article before relying on it for any purpose. This information is not a substitute for advice from a real estate agent, financial advisor, or other licensed professional. Check the Redfin Data Center for additional in-depth housing market data.
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