Market Overview
Home Prices in Sherwood, TN
The median home value in Sherwood, TN is $277,881 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 4.3% compared to a year ago and down 1% from two years prior.
Compared to the U.S. national median of $410,000, homes in Sherwood are priced32% below average. Sherwood is part of the Tullahoma-Manchester, TN metro area.
Price History
Sherwood Home Price Trend
2022
$275,579
$276K
—
2023
$269,763
$270K
-2.1%
2024
$269,084
$269K
-0.3%
2025
$266,332
$266K
-1.0%
2026
$277,881
$278K
+4.3%
City Comparison
Sherwood vs. National Median
🏠 Sherwood
$277,881
National Median
$410,000
At $277,881, homes in Sherwood cost 32% below the national median of $410,000. This makes Sherwood a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Sherwood?
20% Down Payment
$55,576
on $277,881
Monthly P&I
$1,449/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,840/mo
incl. taxes & insurance
Income Needed
$73,600
gross annual (30% rule)
10% Down Option
$27,788
+ PMI applies
Loan Amount (20% dn)
$222,305
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Sherwood, TN?
The median home value in Sherwood is $277,881 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 4.3% year-over-year.
How much have home prices changed in Sherwood?
Over the past year, home values in Sherwood have increased by 4.3%.
How much do I need to earn to buy a home in Sherwood?
To comfortably afford the median home price of $277,881 with a 20% down payment ($55,576) at today's rates (6.8%), you'd need a gross annual income of approximately $73,600. This assumes keeping total housing costs at or below 30% of gross income.
How does Sherwood compare to the national average home price?
The national median home value is approximately $410,000. At $277,881, homes in Sherwood are 32% below the national average.
What metro area is Sherwood part of?
Sherwood is part of the Tullahoma-Manchester, TN metropolitan area. Home prices and market conditions can vary across the broader metro region.