Back to Blog
Hermitage37076First-time buyersCondosTownhomesTHDARyan McCord

Buying in Hermitage for $250K to $300K: Condos and Townhomes

October 22, 2026·Updated October 26, 2026

Hermitage sits inside Metro Nashville, but it has its own suburban feel. If your budget is about $250K to $300K, here's the straight version: the typical Hermitage sale runs well above that, so condos and townhomes are where the realistic options are. This guide covers how to find a good one.

Where it is

  • Hermitage is a neighborhood of Nashville, next to and named for The Hermitage, Andrew Jackson's home. It's part of Metro Nashville and Davidson County but keeps its own residential and commercial identity.

  • The figures below are for ZIP 37076, which is the ZIP on the Hermitage listings cited here.

What $250K to $300K means here: the numbers

The short version: a $250K to $300K budget sits well below the typical Hermitage sale, so condos and townhomes are the realistic path. Here's what the data shows.

  • Redfin reports a median sale price of $429K for 37076 over the three months ending September 2026, with homes selling in about 68 days on average (checked October 22, 2026).

  • For the wider Donelson-Hermitage-Old Hickory area, Redfin's median for the same period was $395K (checked October 22, 2026).

  • Across Nashville, Redfin's city guide lists median sale prices of $514,795 for single-family homes, $374,961 for condos and $349,994 for townhouses (checked October 22, 2026).

  • Greater Nashville REALTORS reported a September 2026 condo median of $331,780 across its nine-county area, compared with a residential median of $510,000 (report dated October 5, 2026, data from RealTracs).

Where to look by home type

Public MLS listings I checked on October 22, 2026 included two examples in this range, listed from about $240K to $275K:

  • A two-bedroom, two-bath condo in Fox Run, built in 1984.

  • A three-bedroom townhouse in Hermitage Woods, built in 1974, with HOA fees of $220 a month and a detached one-car garage.

Both communities date from the 1970s and 1980s, so ask about the age of the roof and systems. Inventory changes weekly, so send me your budget and I'll pull what's active now.

What to check on a condo or townhome before you offer

At this price, most of your options will share walls and an HOA, so the paperwork matters as much as the finishes.

  • HOA dues and what they cover. Dues vary a lot between communities, and they count toward the monthly payment a lender qualifies you for.

  • FHA approval. If you plan to use an FHA loan, including most THDA loans, check whether the community is FHA-approved with HUD's condominium lookup. FHA only insures condo loans in FHA-approved projects, or in unapproved projects that meet HUD's Single-Unit Approval requirements, so not every condo can be bought with an FHA loan.

  • Leasing and rental rules. Many associations limit leasing or ban short-term rentals, which matters if you might rent the unit out later.

  • Age of the big systems. Ask about the roof, HVAC and water heater, and read the HOA's budget and reserves before you're under contract.

First-time buyer help: THDA

The Tennessee Housing Development Agency (THDA) runs the Great Choice Home Loan for moderate-income buyers. Here's what THDA's own pages say:

  • It's a 30-year fixed-rate mortgage. Everyone on the loan application needs a credit score of at least 640.

  • Household income and purchase price limits vary by county, so check THDA's current chart before you count on it.

  • THDA says most Great Choice loans are insured by FHA or USDA-RD and that you may be able to borrow up to 96.5% of the price, so plan on a down payment of at least 3.5%. The exact minimum depends on the loan type, so confirm it with your lender.

  • Great Choice Plus can help with the down payment and closing costs in one of two ways. The first is a deferred, 0% second loan of up to $6,000 or up to $10,000, forgiven after 10 years but due in full if you sell or refinance sooner. The second is an amortizing second loan of up to 5% of the price, capped at $15,000, repaid over 30 years at the same rate as the first mortgage.

  • You generally can't have owned and lived in a home as your principal residence in the past three years, though THDA waives this in targeted areas. The home must be your principal residence, and you'll need to complete homebuyer education.

Start with THDA's Great Choice page and its down payment assistance page. When you're ready to run the numbers, I can connect you with a lender I trust. They can tell you whether THDA or another loan fits you better.

Schools

Metro Nashville Public Schools (MNPS) serves Hermitage. MNPS assigns zoned schools by address, and zones can change, so look up the specific address in the official MNPS Zone Finder before you rely on a school assignment.

Why work with me

  • I'm a Compass agent based in Nashville. My clients get Compass's marketing and tools.

  • I look at property like an investor. I learned the business working alongside a seasoned house flipper, and I still invest while working as an agent. I'll tell you when a unit is priced right and when the HOA or the building is the real risk.

  • You'll reach me directly. Call or text (971) 303-3895.

Send me your budget

Send me your budget and I'll send matching listings in Hermitage. Tell me your price range, how many bedrooms you need and if you're open to a condo or townhome. I'll answer your questions about the area too.

Send me your budget

Frequently asked questions

Can I buy a home in Hermitage, TN for under $300,000?

Yes, usually as a condo or townhome. Redfin's median sale price for 37076 was $429K over the three months ending September 2026, so $300K sits well below the typical sale.

What is the median home price in Hermitage, TN?

Redfin reports $429K for ZIP 37076 over the three months ending September 2026, with homes selling in about 68 days on average.

Is Hermitage part of Nashville?

Yes. Hermitage is a neighborhood of Nashville inside the Metropolitan Government of Nashville and Davidson County, named for The Hermitage, Andrew Jackson's home.

Can I use an FHA or THDA loan on a Hermitage condo?

Only if the community qualifies for FHA. Most THDA Great Choice loans are FHA- or USDA-insured, so check HUD's FHA condominium lookup before you offer.

What do I need for a THDA Great Choice loan?

A credit score of at least 640 for everyone on the application, income and a price within THDA's county limits, homebuyer education, and a plan to live in the home. THDA says to plan on at least 3.5% down on most of its loans, and Great Choice Plus can help cover it.

How do I find the zoned school for a Hermitage address?

Hermitage is in Metro Nashville Public Schools. Look up the specific address in the official MNPS Zone Finder at https://zonefinder.mnps.org.

Keep exploring

Sources

Ryan McCord, licensed real estate agent with Compass RE. Call or text (971) 303-3895, email ryan.mccord@compass.com, or find me on Instagram and TikTok at @ryanmccordrealestate.

Have questions about Nashville real estate?

Get in Touch