This Greeneville home sold for $1.42 million and was August’s top sale. The home was on 18.11 acres and bordered Tusculum. It’s a four-bedroom, 5,166 sq. ft. expansive home, with a main-level attached garage, a drive-under garage, and a 24×28 detached garage that provide a total of six garage spaces. The primary bedroom and ensuite, two additional bedrooms, an additional full bath, a half-bath and one of the home’s two laundry rooms are all on the main level. The second floor features the loft and a fourth bedroom / bonus room with a full bath attached.

August’s $1 million plus home sales held steady year-over-year at five closings, but the shape of the top end of the luxury market is shifting. In August, buyers favored smaller homes on larger lots, pushing price-per-square-foot higher even as average sales prices dipped. Faster closings and streamlined floor plans suggest buyers are moving away from excess and toward properties that offer land, value, and functionality.

So far this year 54 local homes have sold in the $1M+ class. This time last year there were 48 sales.

Distribution of $1M+ August home sales

The top end of the housing market looked very different this August compared to last year. There were five sales in the $1 million–plus bracket both years. But the character of those sales shows some shifting priorities.

The 2024 sales leaned into size and scale. The average home closed at $1.28 million, with some stretching as high as $2.2 million. These were big properties. They averaged more than 5,600 square feet but most sat on relatively modest lots – typically under an acre. They were on the market for about three months on average.

Fast forward to August 2025, and the picture changes. While the average price eased back to $1.18 million, buyers were paying more for what mattered to them. Homes were smaller – just over 5,000 square feet on average – but they came with much more land. The median lot size expanded to five acres, and price efficiency improved sharply. Sales averaged $302 per square foot compared to $262 last year. The homes were also not on the market as long. The median time on market dropped to just 24 days.

The monthly comparison suggests a new rhythm in the high end of the market. Luxury buyers are less interested in palatial showpieces that linger for months and more drawn to well-situated properties that offer land, efficiency, and value.

Categories: CORE DATA