South Carthage, a town in Tennessee, has experienced notable fluctuations in its housing market over the past decade. The city has seen significant changes in homeownership rates, average home prices, and average rent prices, reflecting broader economic trends and local dynamics. The homeownership rate in South Carthage has shown a general decline from 2013 to 2018, followed by a recovery in recent years. In 2013, the homeownership rate stood at 75%, but it decreased steadily to 59% by 2018. However, this trend reversed, with homeownership rising to 68% by 2022. Concurrently, average home prices have shown a consistent upward trend. In 2010, the average home price was $101,974, which more than doubled to $258,905 by 2022. This increase in home prices, despite fluctuations in homeownership rates, suggests a complex interplay of factors influencing the local housing market.

Federal interest rates have played a significant role in shaping homeownership trends. The period from 2010 to 2015 saw historically low interest rates, hovering around 0.1% to 0.18%. During this time, homeownership in South Carthage remained relatively high, above 70%. As interest rates began to rise from 2016 onwards, reaching 1.83% by 2018, homeownership rates in the town declined to their lowest point of 59%. However, the relationship isn't always direct, as evidenced by the recovery in homeownership rates from 2019 to 2022, despite further increases in interest rates.

Renter percentages in South Carthage have mirrored the inverse of homeownership trends. The proportion of renters increased from 24% in 2013 to a peak of 41% in 2018, before declining to 32% in 2022. Average rent prices have shown volatility but with an overall upward trend. In 2013, the average rent was $427, which increased to $807 by 2022, representing an 89% increase over nine years. This rise in rent prices occurred despite fluctuations in the renter population, suggesting other factors such as housing supply and overall economic conditions influencing rental markets.