Commercial Real Estate Market in Somerville, TN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
80 active listings and 568 off-market properties in Somerville, TN.
Market Trends
Somerville, TN spans 435.4 square miles in Fayette County, Tennessee. Figures below refresh monthly; last updated 30 September 2026.
Office
Office vacancy in Somerville, TN runs 20.2% across the South region in 2025, up from 14.4% in 2019.
Vacancy Rate % in South region
Retail
Retail vacancy in Somerville, TN runs 5.4% across the South region in 2025, down from 7% in 2020.
Vacancy Rate % in South region
Industrial
Industrial vacancy in Somerville, TN runs 7.9% across the South region in 2025, up from 6% in 2019. Nearly 2.3x the 2022 low of 3.5%.
Vacancy Rate % in South region
Multifamily
Multifamily vacancy in Somerville, TN runs 11.3% across the South region in 2025, up from 8.5% in 2022.
Vacancy Rate % in South region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 89.2%
- Commercial 6.2%
- Industrial 4%
- Mixed use 0.6%
- Special 0.1%
Largest Zones share of zoned land by district
Rural Residential
Low Density Residential
High Density Residential
General Business
Light Manufacturing
Somerville, TN zones 8,766 acres across 12 districts. Commercial zoning covers 6.2% of zoned land, residential 89.2% and industrial 4%. The largest single district is Rural Residential at 67.2%. For commercial buyers the practical constraint is that only 10.2% of land carries a commercial or industrial designation.
Rural Residential (RR)
The intent of the RR rural residential district is to maintain and or preserve areas of the Town of Somerville for the purposes of farm or forestry production and to allow for limited residential development not requiring extensive municipal services
Market overview
Demographics & Economy
Somerville, TN has 29,281 residents in 11,159 households. Density runs 67 people per square mile. Median household income here is $68,102 and median gross rent $1,085 a month.
29,281
Population
11,159
Households
2.6
Avg Household Size
43
Median Age
20%
College-Educated
88%
High-School Grad
435.4 sq mi
ZIP Area
67
Density / Sq Mi
$68,102
Median Household Income
$41,866
Median Earnings
$1,085
Median Rent
$238,654
Median Home Value
Tools
Nearby Markets
Commercial property in Somerville, TN asks $1,621/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Somerville?
Commercial property in Somerville, TN asks an average of $1,621 per square foot. The 7 most recent recorded sales traded at a median of $192/SF, so asking sits 745% above the achieved median.
What zoning applies to commercial property in Somerville?
Somerville, TN zones 8,766 acres across 12 districts, of which 6.2% is commercial and 4% industrial. The largest single district is Rural Residential at 67.2% of zoned land. The intent of the RR rural residential district is to maintain and or preserve areas of the Town of Somerville for the purposes of farm or forestry production and to allow for limited residential development not requiring extensive municipal services Residential zoning covers 89.2% and open space 0%.
Where does Realmo's Somerville market data come from?
Realmo compiles Somerville, TN figures from 7 recent recorded sales, 77 active sale listings, 3 active lease listings, 568 tracked off-market properties, the current Somerville zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 77 active for-sale and 3 active for-lease listings in Somerville, TN. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 8,766 zoned acres across 12 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 30 September 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at South region level, retail vacancy is reported at South region level, industrial vacancy is reported at South region level and asking prices run materially above recent closed pricing.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 30 September 2026 · report a data issue
