New homes in Franklin are mostly a $1M+ purchase: 345 houses built in 2023 or later closed in the past 12 months at a $1,400,000 median, according to RealTracs MLS sales data. Closed medians run from $1,146,016 at Poplar Farms to $2,543,145 at Hamilton, and the clearest published starting price is Toll Brothers' Franklin Ridge, from $1,654,995. Two in three new homes were sold through a builder-affiliated brokerage, which represents the builder, not you.
At a glance
| New homes closed, 12 months | 345 (built 2023 or later) |
|---|---|
| Median new-home price | $1,400,000 |
| New vs resale median (single-family) | $1,469,200 vs $995,000 |
| Published from price | Franklin Ridge (Toll Brothers), from $1,654,995 |
| Sold by builder-affiliated brokerages | 231 of 345 |
Where $1M+ new homes are being built in Franklin
New construction is a minority of Franklin sales but sits well above the rest of the market. In the 12 months to September 28, 2026, new homes made up 231 of 1,663 single-family sales, about 14%, at a $1,469,200 median against $995,000 for resales. Across a slightly wider set of 345 homes built in 2023 or later, prices ran from $650,000 to $9,875,000, a third closed between $1.2 million and $1.6 million, and 72.4% closed at or above the asking price.
Cost per square foot rises with price: about $296 at the entry end to $545 above $2.2 million. That spread is the difference between production plans on smaller lots and custom homes on larger ones.
| Community | New-home sales, 12 months | Median | Builders named in the record |
|---|---|---|---|
| Hamilton | 14 | $2,543,145 | Partners in Building |
| Bonterra | 8 | $2,374,995 | Not named |
| Lookaway Farms | 9 | $2,150,000 | Partners in Building |
| SouthBrooke | 5 | $1,598,520 | Ford Classic Homes, Celebration Homes |
| Westhaven | 107 | $1,539,449 | Southern Land Company's builder partners |
| SouthVale | 19 | $1,499,000 | Not named |
| Starnes Creek | 23 | $1,489,018 | Drees Custom Homes |
| St Marlo | 5 | $1,300,000 | Not named |
| Reese | 7 | $1,235,783 | Hidden Valley Homes, Barlow Builders |
| Poplar Farms | 68 | $1,146,016 | Not named |
Medians are closed sales of homes built in 2023 or later, from RealTracs MLS sales data. Builders rarely publish base prices for these communities, so a closed median is the more reliable guide to what homes actually cost.
The communities and builders, one by one
Franklin Ridge and Magnolia Green (Toll Brothers)
Toll Brothers' Franklin Ridge is the one Franklin community with a published starting price in this range: from $1,654,995 for homes of 3,929 to 4,415 square feet with four to seven bedrooms, as listed in October 2026. Toll also lists Magnolia Green in Franklin as a future community, anticipated from the $2,400,000s. "From" prices are base prices; options, lot premiums and upgrades come on top, so ask for the price of the specific home and lot.
Hamilton
Hamilton had the highest new-home median in Franklin, $2,543,145 over 14 sales, with Partners in Building named as builder. With only 14 sales, each home's lot and finish level moves the median, so ask for the comparable sales behind any price.
Bonterra
Bonterra's eight new-home sales had a $2,374,995 median. They closed at a median 95.6% of first asking price after a median 148 days to contract, the clearest sign in the data that $2M+ new homes leave room to negotiate. Bonterra is gated; dues and other gated options are on the gated communities page.
Lookaway Farms
Lookaway Farms, also built by Partners in Building, had nine new-home sales at a $2,150,000 median and closed at a median 92.7% of first asking price. Ask for the original list price and how long a home has been available before you offer.
Westhaven
Westhaven, Southern Land Company's master-planned community on Highway 96 West, produced the most new-home sales by far: 107 at a $1,539,449 median. The developer lists Ford Classic Homes, Legend Homes, SLC Homes, Stonegate Homes, Zurich Homes and Reserve SLC Homes as builder partners, and new homes are sold through Westhaven Realty. In one 12-month window, SLC Homebuilding built 67 of 96 new homes sold there and Ford Classic Homes built 12 at a $2,271,764 median. More on the Westhaven page.
SouthBrooke and SouthVale
SouthBrooke, on Lewisburg Pike in south Franklin, covers 75 acres and 205 home sites. It was developed by Ford Classic Homes, which lists itself and Insignia Homes as builders there; SouthVale is its sister community west of Lewisburg Pike. SouthBrooke's five new-home sales had a $1,598,520 median. SouthVale's 19 sales had a $1,499,000 median, and all 19 closed at or above asking price. Both also sell townhomes and smaller plans below $1 million, so check which product a price refers to.
Starnes Creek
Drees Custom Homes builds in Starnes Creek, where 23 new homes closed at a $1,489,018 median. It is marketed as being in the Franklin and College Grove area, so confirm the address, ZIP code and city limits for any home you consider; those decide the tax bill and the school district. For homes further south, see the College Grove guide.
Reese
Reese, off Del Rio Pike, had seven new-home sales at a $1,235,783 median, with Hidden Valley Homes and Barlow Builders named in the record.
St Marlo and Poplar Farms
These are the entry points to new construction above $1 million. St Marlo had five new-home sales at a $1,300,000 median and Poplar Farms 68 at $1,146,016. Station Hill, a Meritage Homes community often listed as Franklin new construction, is actually a Thompson's Station address with an $842,490 median.
Buying new or resale at this price
At $1 million and up in Franklin, new costs more. The single-family new-build median was $1,469,200 against $995,000 for resales, and part of that gap is what you are paying for: a house no one has lived in, built to current codes, with a builder warranty. A resale brings a finished yard, a known history and, often, more room to negotiate.
Negotiating power differs too. Production communities such as SouthVale sold every recorded new home at or above asking, while the $2M+ custom tier at Bonterra and Lookaway Farms closed below first ask after longer waits. Resale is similar: in Westhaven, only 43 of 161 resale sellers got their first asking price, and the median resale closed at 97.3% of it.
A practical test is to compare a new home with a five-to-ten-year-old house in the same community, where both exist. The Franklin neighborhoods guide shows resale medians by community, and most buyers at these prices finance with a jumbo loan, explained in the jumbo loans guide.
Contracts, deposits, inspections and warranties
Who represents you
Of the 345 new homes sold, 231 were listed by a builder-affiliated brokerage, including Westhaven Realty with 92 and Signature Homes Realty with 42. The salesperson in the model home works for the seller. You can bring your own agent. Builders set their own rules on when a buyer's agent must be registered, so ask for the policy in writing before your first visit. I can come to the first visit with you and read the builder's contract before you sign it.
The builder's contract
Ask for the builder's purchase agreement early, before you choose a lot. Read how the contract handles the completion date and delays, price changes for options, the appraisal, and what happens if you need to cancel. Have a Tennessee real estate attorney review it if anything is unclear.
Deposits
Ask how much earnest money and option deposits the builder requires, when each is due, and whether any of it is refundable. Ask separately about deposits for options, upgrades and custom work, and get each one in writing.
Inspections
A new house still needs an independent inspection. Ask the builder in writing whether your inspector may visit before the drywall goes up and again before closing, and schedule both. A final walk-through with a punch list should come before you close, not after.
Warranties
Get the builder's warranty document before you sign the contract. Ask what it covers, for how long, who administers it, and how claims are made. Closing costs on new construction follow their own pattern, explained in the Tennessee closing costs guide.
Common questions
Where are new $1M+ homes being built in Franklin, TN?
Recent new-home sales above $1 million were concentrated in Hamilton, Bonterra, Lookaway Farms, SouthBrooke, Westhaven, SouthVale, Starnes Creek, St Marlo, Reese and Poplar Farms, with medians from $1,146,016 to $2,543,145 in RealTracs MLS sales data. Toll Brothers' Franklin Ridge is priced from $1,654,995, and Toll lists Magnolia Green as a future community from the $2,400,000s.
Do I need my own agent when buying from a builder?
You are not required to have one, but the builder's salesperson represents the builder. In the past year, 231 of 345 new Franklin homes were listed by builder-affiliated brokerages. If you want your own representation, ask the builder when a buyer's agent must be registered, and arrange it before you tour the models.
How much does a new home cost in Franklin, TN?
Homes built in 2023 or later that closed in the past 12 months had a $1,400,000 median, ranging from $650,000 to $9,875,000. A third closed between $1.2 million and $1.6 million. Per-foot prices ran from about $296 at the entry end to $545 above $2.2 million, according to RealTracs MLS sales data.
Can you negotiate on new construction in Franklin?
It depends on the tier. Production communities often sell at full price: SouthVale sold all 19 recorded new homes at or above asking. The $2M+ custom tier is different, with Bonterra closing at a median 95.6% of first ask after 148 days and Lookaway Farms at 92.7%. Ask whether options, upgrades or closing-cost credits are open to discussion.
Should I get an inspection on a new-construction home?
Yes. A new house can still have defects in framing, roofing, drainage or mechanical systems. Ask the builder in writing to allow your own inspector before drywall and again before closing, and do a final walk-through with a written punch list. Keep the builder's warranty document and know how to file a claim.
Is Station Hill in Franklin, TN?
No. Station Hill, built by Meritage Homes, is often listed among Franklin new construction but is a Thompson's Station address. Its recent median was $842,490, below the $1 million range covered here. Always confirm the city and ZIP code of a new-construction listing, because they decide the property tax rate and which school district serves the home.
What is the nicest neighborhood in Franklin, TN for a new home?
That depends on what you want to buy. By price, Hamilton, Bonterra and Lookaway Farms were the top new-home communities, with medians above $2.1 million. Westhaven had the most new homes for sale and a town-style plan, and SouthVale and SouthBrooke offer new homes around $1.5 million. Compare lot sizes, dues and builders rather than a ranking.
Sources
- Toll Brothers: New Homes for Sale in Franklin, TN
- SouthBrooke (Ford Classic Homes): SouthBrooke Community
- Westhaven: Homes
- Nashville Home Guru (Compass): New construction homes Franklin TN (homes built 2023+), RealTracs MLS rolling 12 months
- Nashville Home Guru (Compass): Luxury homes in Franklin TN, RealTracs MLS 12 months ending Sept 28, 2026
- Nashville Home Guru (Compass): Westhaven Franklin TN, RealTracs MLS rolling 12 months
Brianna Morant
I have worked in real estate for more than 20 years. In 2013 I founded Oak Street Real Estate Group with Benchmark Realty, and I lead every listing the team takes on. Here I focus on homes from $1 million in Franklin, Leiper's Fork and College Grove. If you are thinking of selling, I would be glad to tell you what your home could sell for.
Realtor®, Benchmark Realty, LLC. General information, not legal, tax or lending advice.
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