The Complete Tennessee Home Seller's Guide 2025

Pricing is the single most important decision when selling your home. Price it right, and you'll attract multiple offers, sell quickly, and maximize proceeds. Overprice it, and your home sits on the market, eventually selling for less than if you'd priced correctly from the start.

Comparative Market Analysis (CMA)

Your agent will provide a CMA analyzing recent sales of comparable homes in your area. This data-driven approach considers location, size, condition, features, and recent market trends. The CMA shows what buyers are actually paying for homes like yours—not what you want to get or what Zillow's algorithm estimates.

Pricing Strategies

At Market Value: Pricing at fair market value based on comparables attracts serious buyers and often generates multiple offers, potentially driving the price higher.

Slightly Below Market: Can create urgency, attract more showings, and generate competing offers that push the final price to or above market value.

Above Market (Overpricing): Rarely works. Buyers and their agents know market values. Overpriced homes sit, accumulate days on market, and eventually sell for less after price reductions and buyer skepticism.

Professional marketing separates good agents from average ones. Your home should be showcased through multiple channels to reach the maximum number of qualified buyers.

Professional Photography

Professional photos are non-negotiable in today's market. 95% of buyers search online first, and listings with professional photos sell faster and for more money than those with amateur phone pictures. Good agents include professional photography as part of their service.

MLS Listing

The Multiple Listing Service (MLS) is the database all real estate agents use. Listing on MLS means your home is visible to every agent and their buyers in the area. It feeds to major real estate websites like Zillow, Realtor.com, and Redfin. Without MLS, you severely limit your buyer pool.

Online Marketing

Your home should appear on all major real estate websites, social media platforms, and your agent's website. Virtual tours or video walkthroughs are increasingly expected, especially for higher-priced homes. Online marketing reaches buyers searching from anywhere, including relocating buyers who can't easily visit in person initially.

Open Houses & Showings

Open houses showcase your home to multiple buyers at once and create urgency. Private showings allow qualified buyers to view the home on their schedule. Your agent will coordinate both. Make your home as accessible as possible for showings—the easier it is to show, the more showings you'll get, and the faster you'll sell.

When offers arrive, review them carefully with your agent. Price is important, but it's not everything. Consider the buyer's financing strength, contingencies, requested closing date, and any special requests or concessions.

Evaluating Offers

Buyer's Financial Strength: Cash offers or pre-approved conventional financing are strongest. FHA/VA financing is solid but may have additional requirements. Buyers without pre-approval are risky.

Contingencies: Fewer contingencies mean less risk. A buyer waiving inspection is appealing but unusual. Financing and appraisal contingencies are standard.

Earnest Money: Larger earnest money deposits (2-3% or more) demonstrate serious commitment.

Closing Timeline: Can you accommodate their requested closing date? Sometimes flexibility on timing can be negotiated for better price or terms.

Multiple Offers

In competitive markets, you may receive multiple offers. Your agent will present all offers and advise on which is strongest. The highest price isn't always the best offer—a lower-priced cash offer with no contingencies might be more attractive than a higher-priced offer with risky financing.

Counteroffers

You can accept, reject, or counter any offer. Counteroffers allow you to negotiate price, terms, closing date, or contingencies. Your agent guides this delicate negotiation, balancing your goals with market realities and buyer expectations.

As closing approaches, complete any agreed-upon repairs, schedule utilities to transfer on closing day, and prepare to move. Your agent will coordinate with the title company, buyer's agent, and lender to ensure everything is ready.

The Closing Process

At closing, you'll sign the deed transferring ownership to the buyer, settlement statement showing all financial details, and various required documents. The title company ensures all liens are paid, transfers clear title, and distributes funds. You'll receive your proceeds via wire transfer or check shortly after closing.

Final Details

• Leave the home broom-clean
• Leave appliances and items specified in the contract
• Provide garage door openers, keys, and alarm codes
• Transfer or cancel homeowners insurance
• Forward mail to your new address

Disclosure Requirements

Tennessee law requires sellers to complete a Residential Property Condition Disclosure statement. You must disclose known defects and issues honestly. Failure to disclose known problems can result in legal liability even after closing. When in doubt, disclose. Your agent will provide the required forms.

Capital Gains Tax

If you've lived in your home as your primary residence for 2 of the last 5 years, federal law allows you to exclude up to $250,000 (single) or $500,000 (married) of capital gains from federal income tax. Tennessee has no state capital gains tax. Most home sellers pay no capital gains tax. Consult a tax professional for your specific situation.

Typical Timeline

In balanced Tennessee markets, expect 2-4 weeks to prepare your home, 2-6 weeks to receive an acceptable offer (depending on pricing and market), and 30-45 days from accepted offer to closing. Total timeline: 2-4 months from deciding to sell to closing day.