Forest Hills, TN housing market
Homes typically sell in 59 days, below asking.
Home values, sales, trends and how Forest Hills compares with the towns next door — updated as new data is published.
Forest Hills at a glance
A balanced market
About 5.3 months of supply: neither buyers nor sellers have a clear edge.
Home prices up 50% in 5 years
The federal house price index for the ZIP codes around Forest Hills rose 50% over the past 5 years, slower than across Tennessee (60%). Last year prices rose 3.6%. Carrying the Census median home value forward with that index puts the typical Forest Hills home at roughly $1,555,000 today.
Show as a table
| Year | Change that year | Since 2000 | Tennessee since 2000 |
|---|---|---|---|
| 2025 | +3.6% | +256% | +186% |
| 2024 | +7.5% | +243% | +180% |
| 2023 | −1.2% | +220% | +167% |
| 2022 | +22% | +223% | +149% |
| 2021 | +11% | +165% | +105% |
| 2020 | +3.8% | +138% | +80% |
| 2019 | +3.9% | +129% | +72% |
| 2018 | +5.5% | +120% | +63% |
| 2017 | +7% | +109% | +52% |
| 2016 | +6.6% | +95% | +42% |
| 2015 | +5.4% | +83% | +34% |
| 2014 | +7.8% | +74% | +28% |
| 2013 | +5% | +61% | +23% |
| 2012 | +1.4% | +54% | +21% |
| 2011 | −2.6% | +51% | +23% |
| 2010 | −1.5% | +55% | +26% |
| 2009 | −2.4% | +58% | +30% |
| 2008 | +1.6% | +62% | +34% |
| 2007 | +1.9% | +59% | +33% |
| 2006 | +18% | +56% | +28% |
| 2005 | +12% | +32% | +20% |
| 2004 | +7% | +18% | +12% |
| 2003 | +2.6% | +10% | +8.2% |
| 2002 | +2.8% | +7.5% | +6.3% |
| 2001 | +4.6% | +4.6% | +3.8% |
| 2000 | — | — | — |
How Forest Hills ranks on rising home prices →
Federal Housing Finance Agency House Price Index (annual, developmental) for ZIP codes 37215, 37027, weighted by land area. It tracks repeat sales and appraisals of the same homes, so it shows how prices changed, not what homes cost. The estimated value scales the Census (ACS 2020-2024) median home value by that change.
No new homes permitted in 2025
No permits for new homes were issued in Forest Hills in 2025. The last year with any was 2022 (8 new homes).
Homes vs. people, 2010–2020
Between the 2010 and 2020 censuses, Forest Hills gained 226 residents while 119 new homes were permitted: about 1.9 new residents per new home. Building and growth moved roughly in step. Across Tennessee: 2 new residents per new home.
Residents: U.S. Census Bureau, 2010 and 2020 censuses. New homes: permits issued 2010–2019.
Show as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 0 | 0 | 0 | — |
| 2025 | 0 | 0 | 0 | — |
| 2024 | 0 | 0 | 0 | — |
| 2023 | 0 | 0 | 0 | — |
| 2022 | 8 | 8 | 0 | $17.2 million |
| 2021 | 11 | 11 | 0 | $20.5 million |
| 2020 | 13 | 13 | 0 | $18.6 million |
| 2019 | 18 | 18 | 0 | $34 million |
| 2018 | 15 | 15 | 0 | $20.3 million |
| 2017 | 9 | 9 | 0 | $10.9 million |
| 2016 | 18 | 18 | 0 | $17 million |
| 2015 | 17 | 17 | 0 | $16.4 million |
| 2014 | 17 | 17 | 0 | $12.5 million |
| 2013 | 16 | 16 | 0 | $14.3 million |
| 2012 | 4 | 4 | 0 | $2.4 million |
| 2011 | 3 | 3 | 0 | $1.8 million |
| 2010 | 2 | 2 | 0 | $2.9 million |
| 2009 | 9 | 9 | 0 | $9.1 million |
| 2008 | 8 | 8 | 0 | $8.1 million |
| 2007 | 21 | 21 | 0 | $21.5 million |
| 2006 | 30 | 30 | 0 | $33.6 million |
| 2005 | 26 | 26 | 0 | $32.5 million |
| 2004 | 23 | 23 | 0 | $19 million |
| 2003 | 15 | 15 | 0 | $10.8 million |
| 2002 | 9 | 9 | 0 | $8.5 million |
| 2001 | 13 | 13 | 0 | $8 million |
| 2000 | 12 | 12 | 0 | $10.9 million |
How Forest Hills ranks on new homes being built →
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey, through August 2026.
Forest Hills and its neighbors
| Town | 1-yr change | 2-bed rent | New homes 2025 | Median income |
|---|---|---|---|---|
| Forest Hills | +3.6%† | $2,230 | 0 | $250,001 |
| Belle Meade | −2.4%† | $2,230 | 6 | $250,001 |
| Oak Hill | +4.9%† | $2,420 | 17 | $215,530 |
† FHFA price index change, where Zillow has no home value for the town.
5.7 years of income
The typical Forest Hills home costs about 5.7 years of the town's median household income, more than across Tennessee (4.8 years).
How Forest Hills ranks on affordability →
Home value ÷ ACS median household income.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024.
A two-bedroom rents for about $2,230
HUD's Fair Market Rent for a two-bedroom in Forest Hills is $2,230 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Forest Hills pay a median of $3,501. A two-bedroom takes about 11% of the town's median household income.
Studio $1,950 · 4 bedrooms $3,470
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (37027, 37215; Nashville-Davidson--Murfreesboro--Franklin, TN HUD Metro FMR Area), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
Home values: Zillow Home Value Index (ZHVI), Zillow Research. Sales, days on market and supply: Redfin Data Center, May 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Price trend: Federal Housing Finance Agency House Price Index. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.