How your housing costs change when you relocate. Based on 2026 data with 10% down, 6.5% rate, 30-year fixed.
Your housing costs will decrease by approximately $241 per month ($2,892/year) when you move from Texas to Tennessee.
If you sell your median-priced Texas home ($310K) and buy in Tennessee ($340K):
Your Texas equity covers the 20% down payment on a median Tennessee home with $25K left over. That surplus can cover closing costs, moving expenses, or go into savings.
Over 10 years, this move saves you approximately $29K in housing costs alone.
Housing costs more in Tennessee. The median home is 9% higher than in Texas — a $30K jump. You may need to adjust your expectations on square footage or location, or come with a larger down payment to keep your monthly costs manageable.
Good news on taxes: Tennessee's 0.56% property tax rate is significantly lower than Texas's 1.8%. You'll save approximately $3,676 per year on property taxes, which adds up to $37K over a decade.
You'll save on insurance moving to Tennessee: $2,400/year versus $3,800/year in Texas. That's $1,400 less per year in premiums, putting $117 back in your monthly budget.
When you buy in Tennessee, expect about $5K in closing costs (1.5% of purchase price). This includes a 0.37% transfer tax. Budget for this amount on top of your down payment.
Tennessee's THDA Great Choice Home Loan offers Up to $25,000 DPA. If you haven't owned a home in three years (or are buying in Tennessee for the first time), you may qualify. Check eligibility requirements and income limits on Tennessee's housing finance agency website.