Southwood in Morristown, TN: Prices Down 9.6%

Buying a home in Southwood means evaluating a residential subdivision within the broader Morristown real estate market. Because specific market data isn’t published for this neighborhood alone, you need a reliable way to figure out whether an asking price makes sense.

City-wide single-family data gives you a solid baseline for negotiations. Pull the right county records and verify local rules to protect yourself from overpaying, or from buying into restrictions that don’t fit your plans.

Key takeaway

Treat a Southwood listing as a negotiation, not a bidding war. Morristown single-family homes sold for a median below list price in the 90 days ending September 30, 2026, and prices are lower than a year ago. If you need a waterfront lot or a newer build instead, start with the Cherokee Lake or new construction guides.

Who this guide is for

You’re looking at a home in Southwood, Morristown, and need to decide whether the asking price is fair and what to verify before you make an offer.

What is Southwood in Morristown, TN?

Southwood is a platted residential subdivision on record in Hamblen County. There are similarly named apartments, schools, and businesses in the region, so confirm you’re looking at the residential subdivision when searching for homes.

You can find the exact boundaries, lot dimensions, and building eras through Hamblen County property assessor records. Subdivisions can sometimes straddle municipal lines, so checking the county map will also confirm exactly where a specific house sits. If you want to compare other areas, the best neighborhoods in Morristown guide is a good place to start.

With no Southwood-level market data available, the right benchmark for any listing here is Morristown’s single-family market. The median was 55 days on market for the 90 days ending September 30, 2026. Plan to negotiate roughly 3% off asking unless the house is priced to compete with the share that sold above list.

Southwood home prices and the Morristown housing market

To judge a house here, look at the broader Morristown single-family trend. The city-wide median sale price is currently $284,886, down 9.6% year over year. Sellers who priced at last year’s levels may need to cut their asking price to find a buyer.

The market is split depending on how realistic the seller is. The typical home takes nearly two months to sell, yet 14.8% of houses still sold above list price. A correctly priced Southwood home can move quickly; an overpriced one will sit. These figures are city-wide, drawn from 89 recent single-family sales, not Southwood alone.

How to price-check a Southwood listing

Compare the specific house against the city’s baseline numbers to set your offer. Price per square foot and time on market are the two levers you can use to tell whether a seller is asking too much. If the numbers don’t line up, you have grounds to negotiate.

Here’s how to run the math before you write an offer.

Compare price per square foot to the city median

Divide the asking price by the county-recorded living area and compare it with Morristown’s single-family median of $182 per square foot. For illustration only: a 1,650-square-foot Southwood house priced at the city median would be about $300,300. An asking price of $339,000 needs a clear reason, such as major updates, a larger lot, or a premium garage.

A city-wide median blends every age and condition of home. Small or updated houses naturally price above it on a per-square-foot basis, so a gap is a question to ask, not proof of overpricing.

Use days on market to set your offer

Morristown single-family homes took a median 55 days to sell and closed at 96.7% of list price. On a $299,900 Southwood listing, that ratio works out to about $290,000. A listing well past 55 days, or one with price cuts, supports an offer at or below that figure, which is roughly $9,400 under asking on a median-priced home.

What you give up is certainty on a fresh listing. A well-priced house that just hit the market may be among the minority that sells at or above asking, and a lowball offer can lose it. Days on market only helps once the home has sat a while.

Pull the county record and recent sales

Check the Hamblen County property assessor record for the year built, recorded square footage, lot size, and last sale price. Ask your agent for recent Southwood sales to use as direct comparables. That’s the only way to see what Southwood itself has sold for, since no published source tracks the subdivision separately.

One caveat: recorded square footage can lag behind additions or finished basements, and a small subdivision may have few recent sales. Lean on the closest comparable sales rather than any single number.

Living in Southwood: getting around, healthcare, and weather

Daily life in Southwood involves typical East Tennessee weather and access to regional services. NWS normals for the nearby Tri-Cities Airport station show an average annual rainfall of 43.97 inches and an average annual snowfall of 9.2 inches. You can check the cost of living in Morristown to see how utility and daily expenses compare to your current city.

For medical care, the Morristown-Hamblen Healthcare System is located at 908 West Fourth North Street. To understand your daily commute, drive from the house to your workplace and the nearest grocery store at rush hour. That will give you the most accurate picture of local traffic patterns.

What to check before you make an offer in Southwood

There are several things to verify before you sign a contract. Confirm on the City of Morristown or Hamblen County GIS map whether the lot is inside city limits, since that determines whether city property tax applies. Check the FEMA flood map for the address and get an insurance quote from your insurer before the inspection deadline.

Ask the seller or listing agent whether a homeowners association exists, request current dues, and get the recorded restrictive covenants from the Hamblen County Register of Deeds. Confirm school assignment for the exact address using the Hamblen County Schools lookup rather than relying on a listing description. Review crime data for the address through official Morristown Police Department or TBI sources, using the same date range when comparing areas.

You can also review your estimated buyer closing costs and available homebuyer assistance programs to finalize your budget.

How to decide if Southwood fits your search

If you want a house under $300,000 with room to negotiate, start with Southwood listings that have been on the market longer than 55 days. If you want to avoid overpaying on a recently listed home, start with the price-per-square-foot check against that median.

Review your affordability and budget before comparing specific houses. If you want lake frontage or dock access rather than a subdivision lot, the Cherokee Lake homes for sale guide is a better fit. If a newer home with builder warranties is the priority, check the new construction in Morristown guide instead.

Review the current homes for sale in Morristown to see what matches your criteria.

At a glance

Median sale price, single-family homes, Morristown: $284,886 (90 days ending 2026-09-30, 89 sales)
Year-over-year change in median sale price, single-family homes, Morristown: -9.6% (90 days ending 2026-09-30)
Median sale price, all home types, Morristown: $292,361, down 7.2% year over year (90 days ending 2026-09-30, 101 sales)
Median price per square foot, single-family homes, Morristown: $182 (90 days ending 2026-09-30)
Median price per square foot, all home types, Morristown: $175 (90 days ending 2026-09-30)
Median days on market, single-family homes, Morristown: 55 days (90 days ending 2026-09-30)
Sale-to-list ratio, single-family homes, Morristown: 96.7% (90 days ending 2026-09-30)
Share sold above list, single-family homes, Morristown: 14.8% (90 days ending 2026-09-30); all home types: 13.1%
Months of supply, single-family homes, Morristown: 3.5 months, with 103 homes in inventory (90 days ending 2026-09-30); all home types: 3.3 months, 109 homes

Southwood, Morristown FAQs

How far is Southwood from downtown Morristown?

Because exact subdivision coordinates vary, map the drive from the specific property address to downtown Morristown. Drive the route at rush hour to get an accurate picture of daily traffic and commute times.

What school district serves Southwood in Morristown?

The Hamblen County Department of Education serves the area. You can confirm the exact assignment for your address using the “Find My Zoned School/Bus Info” tool on the district’s official Schools page.

Is Southwood inside Morristown city limits?

You’ll need to check the specific address on the City of Morristown or Hamblen County GIS map. Properties inside city limits pay both city and county property taxes and receive city services; those outside pay only the county rate.

How much is property tax on a home in Southwood?

Tennessee applies a 25% residential assessment ratio, meaning you’re taxed on one-quarter of the home’s appraised value. The Hamblen County rate is $1.47 per $100 of assessed value outside city limits, and $1.31 inside. Inside city limits, the City of Morristown adds $0.9424 per $100, for a combined rate of $2.2524. For illustration only: on a $250,000 appraisal, the assessed value is $62,500, resulting in about $1,407 in combined taxes inside city limits, or $918 outside.

Does Southwood in Morristown have an HOA?

Even if there’s no active HOA, recorded covenants can restrict fences, outbuildings, or rentals. The seller should be able to confirm current dues; see the pre-offer checklist above for how to obtain the covenants from the Register of Deeds.

Can I use a Southwood home as a short-term rental?

The City of Morristown defines short-term rentals as lodging for up to 30 days and restricts owner-occupied permits to the owner’s primary residence, limited to three bedrooms. Non-owner-occupied rentals are regulated separately, and all setups require city review and approval based on the zoning district. Confirm with City of Morristown planning and check the property’s recorded covenants, which may prohibit rentals regardless of city rules.

Southwood home prices and pre-offer checks in Morristown, TN