Over 10 years, the time needed to save up for house increased 30% in TN. Here’s what changed

A SmartAsset study found that in Tennessee, the time required for median-income households to save for a 20% down payment on a home increased by 25 months between 2016 and 2026, with home prices rising from $163,763 to $334,075. Minimum-wage earners in Tennessee would need 44.3 years to save for a down payment in 2026, while the study ranked Tennessee 14th nationally for the largest increase in required savings time.