Home Values

Springfield Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$106,900

  • 3.1% 1-year change
  • 2.9% 1-year forecast

Market Temperature

Based on three metrics—sale-to-list price ratio, the prevalence of price cuts on home listings, and time-on-market—the market temperature provides information on the current balance of bargaining power between buyers and sellers in this city relative to other cities in the same metropolitan area. A particular city may be identified as a good market for buyers in a metro market favorable to sellers overall. Learn more

Cold

Buyers' Market
Sellers' Market

The median home value in Springfield is $106,900. Springfield home values have gone up 3.1% over the past year and Zillow predicts they will rise 2.9% within the next year. The median list price per square foot in Springfield is None. The median rent price in Springfield is $700, which is lower than the Nashville Metro median of $1,400.

Foreclosures will be a factor impacting home values in the next several years. In Springfield 3.3 homes are foreclosed (per 10,000). This is lower than the Nashville Metro value of 4.0 and also lower than the national value of 3.5

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Springfield is 3.2%, which is lower than the national value of 6.0%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Springfield homeowners underwater on their mortgage is 11.8%, which is higher than Nashville Metro at 9.9%.

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Relative ZHVI
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Springfield Market Overview

Data through May 31, 2015
  • $106,900 ZHVI
  • 2.9% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (May 31, 2016)
  • No data Median listing price
  • $127,965 Median sale price
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Springfield Market Health

Data through May 31, 2015
  • No recent data Stable
  • No data Average days on Zillow
  • 11.8% Homes with negative equity (15.4% US Avg) (Mar 31, 2015)
  • 3.2% Delinquent on mortgage (6.0% US Avg) (Mar 31, 2015)

Homes foreclosed (per 10,000)

3.3 homes Springfield
4 homes Nashville Metro
3.5 homes United States
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Nearby Cities

Name Median ZHVI
Adams $176,300
Pleasant View $169,000
Coopertown $166,600
Name Median ZHVI
Goodlettsville $161,700
White House $154,300
Greenbrier $130,700
Name Median ZHVI
Millersville $128,700
Cross Plains $125,100
Orlinda $124,200

Listings & Sales

Data through May 31, 2015
  • No recent data Median list price / sq ft
  • $84 Median sale price / sq ft
  • No data Listings with price cut
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Springfield Rentals

Data through May 31, 2015
  • Zillow Rent Index

  • $951 Springfield
    $1,379 Nashville Metro
    $1,367 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 1.6 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Dec 31, 2014)
  • $700 Rent list price (Apr 30, 2015)
  • $0.75 Rent list price / sq ft (Apr 30, 2015)
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