With a 150k income, you're right on target for purchasing a home in Tennessee. Financial advisors recommend spending about 3 to 4 times your annual income on a home, which translates to a budget between $450,000 and $600,000.

In Nashville, the median home price is approximately $450,000, fitting neatly within your target range. This balance ensures a wide variety of quality homes are available to you.

Additionally, other cities like Memphis and Knoxville offer appealing options at around $300,000. With a property tax rate of 0.66%—amounting to roughly $2,970 per year—and a cost of living below the national average, your income comfortably supports homeownership across the state.