Every spring, just as dogwoods bloom and moving trucks begin to appear on neighborhood streets, one question quietly takes center stage for homeowners across Middle Tennessee: What is my home really worth?
For Bill Lurwick of Gray Fox Realty, that question is not only familiar, but also foundational. February and March mark the moment when sellers shift from planning to action, preparing to list homes during what history shows is the most active selling season of the year. From March through October, the market moves quickly, and pricing decisions made early can shape the entire outcome of a sale.
Lurwick says the timing is no coincidence. “Research & history confirm this is the core question homeowners ask every February and March. Sellers like you have already been planning to list their home for sale since late fall, and with the hottest selling season of the year historically from March to October, this is THE most important question you can ask, and you want to get the correct answer too, not just a guess, but the answer to ‘what are banks willing to loan in a mortgage to buyers for the specific home they want to purchase based on its appraised value.’”
The emphasis on appraisal-based value sets Gray Fox Realty apart in a market saturated with automated estimates and instant answers. While online tools have become a starting point for many sellers, Lurwick believes understanding true value requires deeper analysis, especially in communities like Thompson’s Station and Spring Hill, where neighborhood nuances matter.
Late winter, he explains, is the ideal time to focus on that analysis. “Because it’s time to get your home ready to sell! Sellers AND Buyers typically plan to move over the summer months, if possible, to align with school and vacation schedules.” Knowing a home’s realistic value before the season begins allows sellers to make strategic decisions about preparation, pricing and potential improvements.
One of the most common missteps sellers make is relying too heavily on automated valuations. The Zestimate and similar tools offer convenience, but Lurwick is quick to point out their limitations. “The Zestimate is without a doubt, the most used tool by sellers to guess what their home is worth. Key word, ‘Guess’! At Gray Fox Realty, we’ve compiled a database of actual appraisal reports of homes that have sold in the last 5 years here in Middle Tennessee, and we know through the study of these reports, what appraisers feel adds value to, and subtracts value from a home.”
That database forms the backbone of the firm’s professional comparative market analysis, or CMA. Rather than averaging broad area data, Gray Fox Realty evaluates homes neighborhood by neighborhood, factoring in condition, features and buyer behavior. It is an approach rooted in how lenders actually view value, since appraisals ultimately determine what buyers can borrow.
Understanding which features influence value the most is another area where assumptions often miss the mark. Lurwick says sellers are frequently surprised by what matters and what does not. “Want to know a secret? Through our study of appraisal reports, and the history of homes we’ve listed for sale at Gray Fox Realty, we KNOW what adds the most value to a home! It might not be what you think! But facts are facts!" Value ads/subtractors to home value according to appraisal reports and the Gray Fox List Price Model are:
Do you have a Fireplace, Garage, Carport, or Fence? What type of Flooring, Appliance Style, do you have? Are your Kitchen and Master Bath updated? What is your Deck, Porch, or Patio enhanced by? Do you have a unique Geographic Feature or Exterior Pool or Entertaining Area? If you are thinking of a project or remodel of your home, or a certain area of your home, if you want to add the most resale value, these are the areas to focus on to get the most bang for your buck when it comes to adding home value.
Location further complicates the picture, even when homes appear nearly identical. Thompson’s Station and Spring Hill share architectural styles and community appeal, yet pricing can vary significantly. According to Lurwick, the reasons are practical and deeply personal for buyers. “It’s all about schools, shopping, and travel times. Thompson's Station is strategically geographically positioned close to many travel conveniences and options, that cut down on time spent in the car between work, school, and play. Spring Hill has the shopping homeowners want the most. Thompson's Station is in Williamson County School Zone; Spring Hill is in the Williamson AND Maury County School Zone. These are all contributing factors when it comes to a home's value in either area.”
In today’s market, precision matters more than ever. The frenzied conditions of recent years have faded, replaced by buyers who move quickly past homes that feel overpriced or misaligned with their expectations. Lurwick cautions that there is little margin for error. “No one wants to get left behind. It’s not the 2022 market in 2026. It's the 2018 market in 2026. Homeowners' equity continues to rise in our area on average higher than the national average, but the days of buyers waiving appraisals, waiving home inspections, and sellers having multiple offer situations on a home, and buyers paying 20% over list price in some cases, are gone.”
The result, he says, is a market with clear consequences. Homes priced correctly attract attention and activity, while those that miss the mark risk being overlooked entirely. Getting the price right from the start is no longer optional.
For sellers comparing online estimates with professional guidance, Lurwick encourages perspective. Third party sites can inform curiosity, but they should not replace expertise grounded in daily transactions and local knowledge. Data, when interpreted correctly, tells a far more accurate story.
As spring approaches and homeowners prepare for the season ahead, the question of value remains the starting point. With careful analysis, local insight and an understanding of what truly drives buyer decisions, that question becomes less about guessing and more about confidence. In a market defined by details, knowing your home’s real worth is the first step toward a successful sale.
Bill.GrayFoxRealty.com
Knowing a home’s realistic value before the season begins allows sellers to make strategic decisions about preparation, pricing and potential improvements.
“No one wants to get left behind. It’s not the 2022 market in 2026. It's the 2018 market in 2026"