30 Year Fixed
- 3.41 %
15 Year Fixed
- 2.84 %
1-Year ARM
- 4.06 %
5/1 ARM
- 2.81 %
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Guide to Tennessee Mortgages

Tennessee

Tennessee is located in the Southern area of the United States and is the 36th largest state in the Nation by area. It is nicknamed the “Volunteer State.”

The state’s total population is around 6,156,719 which make it the 17th most populated state in the nation. Its demographics are as follows; 81.53% Caucasian; 17.22% African American; 0.69% American Indian; 1.47% Asian American; 0.09% Mixed. The economy for this state is based upon textiles, cotton and electrical power to name a few. There are 82,000 farms located within the state, of which 59% are beef cattle farms. Tennessee’s gross state product is estimated at $226.5 billion, 18th in the nation. It has a per capita income of $28,641 ranking it 36th in the U.S.

The capital of Tennessee is Nashville, but the largest city is Memphis followed by Chatanooga and then Knoxville.

Tenessee has a humid subtropical climate with temperatures ranging from the lowest of 27 degree during the winter months to the highest at 92 degrees during the peak of summer.  The state is not directly affected by hurricanes, but the remnants of these storms do usually impact the state during hurricane season. On average the state suffers from an average of 15 tornadoes per year.

 

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Tennessee Housing Statistics
TennesseeUSA
Total Housing2,439,443121,699,874
Total Urban1,551,31494,464,240
Total Rural888,12927,235,633
Occupied2,232,905110,754,106
Vacant206,53810,945,767
Owner Occupied1,561,36373,306,541
Renter Occupied671,54237,447,565
Vacant for Rent64,4762,745,385
Vacant for Sale31,8761,264,534
 
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