Commercial Real Estate Market in Spencer, TN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
158 active listings and 159 off-market properties in Spencer, TN.
Market Trends
Spencer, TN spans 185.0 square miles in Van Buren County, Tennessee. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Spencer, 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 Spencer, TN runs 5.4% across the South region in 2025, down from 7% in 2020.
Vacancy Rate % in South region
Industrial
Industrial vacancy in Spencer, 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 Spencer, 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 52.2%
- Agricultural 32.4%
- Commercial 10.8%
- Industrial 4.7%
Largest Zones share of zoned land by district
Low Density Residential
Agricultural
General Business
Light Industrial
High Density Residential
Market overview
Demographics & Economy
Spencer, TN has 4,276 residents in 1,962 households. Density runs 23 people per square mile. Median household income here is $51,458 and median gross rent $705 a month.
4,276
Population
1,962
Households
2.2
Avg Household Size
45
Median Age
12%
College-Educated
80%
High-School Grad
185 sq mi
ZIP Area
23
Density / Sq Mi
$51,458
Median Household Income
$35,563
Median Earnings
$705
Median Rent
$137,500
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Bone Cave | — | — |
| Quebeck | — | — |
| Doyle | — | — |
| Walling | — | — |
Commercial property in Spencer, TN asks $50/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Spencer?
Commercial property in Spencer, TN asks an average of $50 per square foot. The 4 most recent recorded sales traded at a median of $16/SF, so asking sits 206% above the achieved median.
Where does Realmo's Spencer market data come from?
Realmo compiles Spencer, TN figures from 5 recent recorded sales, 158 active sale listings, 159 tracked off-market properties, the current Spencer zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 158 active for-sale and 0 active for-lease listings in Spencer, 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: 4,260 zoned acres across 6 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 31 August 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 31 August 2026 · report a data issue
