Tennessee sees some of nation's highest spikes in farmland real estate prices

A new report from the USDA has indicated a spike in agricultural land values in Tennessee. Since 2020, farm real estate value in Tennessee has increased 10.7% going from $4,120 per acre in 2020 to $5,710 per acre in 2024. Tennessee had the second-highest percentage increase in the Southeast and the nation – second only to Florida whose prices went up 13.4%. The value per acre of cropland has also increased 10.9% from $4,010 per acre in 2020 to $5,610 per acre in 2024 while pastureland has increased 8.1% in value, going from $3,900 per acre in 2020 to $5,360 per acre in 2024. Tennessee had the highest percentage increase for cropland at 10.9% in the nation while it reported the eighth biggest percentage gain in pastureland increases.