In February, In-N-Out's chief operating officer Denny Warnick stood outside the company's newly opened Franklin restaurant and told reporters that the building rising behind him would be "the site of our eastern territory headquarters," adding that the company was "really excited to be here." Behind him, framed against a lot off Interstate 65, sat the shell of a 100,000-square-foot office complex that will eventually house 277 corporate jobs paying an average salary near $90,000. The whole project, restaurant and headquarters combined, represents a $125.5 million commitment to a single stretch of road adjacent to Berry Farms.
That is the kind of announcement that makes a real estate agent's phone ring. A major employer relocating hundreds of well-paid jobs next door to a neighborhood is the classic setup for a price story, the kind where every house within walking distance gets a little more expensive the moment the press release goes out. Berry Farms has had eighteen months to prove that story true. The property records tell a more specific one.
What actually moved while the building went up
In-N-Out broke ground on the Franklin site in September 2024. The first Tennessee restaurant, sitting in front of the future office, opened February 25, 2026, drawing customers who waited hours for a Double-Double. The headquarters itself is still under construction, with an October 2026 opening targeted for the building that will eventually house operations, HR, and IT staff supporting its entire eastward expansion.
During that same stretch, Berry Farms' housing market did not move as one unit. MLS data covering the twelve months into early 2026 put the neighborhood's overall median sale price, across every property type, at $710,000. Break that median apart by what people actually bought and the number stops behaving like a single market.
| Product type | Price range | Year-over-year change |
|---|---|---|
| Condos and flats | $401,000 to $585,000 | Up 12.5% |
| Townhomes | $600,000 to $845,000 | Down 7.8% (small sample, 4 sales) |
| Single-family homes | $1,030,000 to $1,950,000 | Down 1.7% |
The condo tier is the one worth sitting with. One-bedroom units that sold for roughly $420,000 a year earlier were closing closer to $490,000. Meanwhile the single-family segment, the $1 million-plus houses that make up Berry Farms' most visible price point, actually softened slightly, and did so on fewer transactions. Only seven single-family homes sold in that twelve-month window, down from twelve the year before.
If a new corporate campus were going to lift Berry Farms evenly, this is not what that would look like. Instead, one narrow slice of the market moved well ahead of the announcement's headline number, and the slice that should theoretically benefit most from 277 new six-figure-adjacent jobs sat still.
Why the condo money arrived first
Berry Farms was not a blank canvas before In-N-Out picked it. The neighborhood already houses Lee Company, one of Williamson County's larger employers, and the entire community was designed around the idea that people could live inside walking distance of where they work. A Town Architect approves every home built by the three builders active in the neighborhood, Celebration Homes, Ford Custom Homes, and Regent Homes, which keeps the Federal-style architecture consistent from block to block regardless of price point.
That structure matters for anyone moving for a job rather than for a school district. A transferring employee weighing a first Tennessee purchase is rarely ready to commit to a $1.3 million house in a city they have visited twice. A condo inside the Town Center, with HOA dues between $272 and $408 a month covering exterior maintenance, pool access, and landscaping, is a much smaller decision. It is a place to land while a family decides whether Franklin is permanent, without taking on a yard, a second car payment's worth of mortgage, or a long-term bet on a school zone.
That is the pattern the price data suggests happened here. The relocation demand that theoretically follows a new corporate office showed up first in the product built for people who have not yet decided to stay.
Why the single-family tier is still waiting
The math on the office itself explains the other half of the split. As of this writing, the headquarters building is not open. The 277 jobs it is expected to create have not fully landed, and a company with an average salary near $90,000 is producing a workforce that, in year one, is more likely to rent or buy a condo than finance a house at Berry Farms' top price tier. The single-family buyers who are active in that segment right now are largely the same move-up families who were shopping Berry Farms before In-N-Out ever broke ground, which is one reason that tier's pricing has stayed close to flat rather than spiking.
None of this means the single-family segment will stay quiet. It means the timeline for that effect to show up runs behind the timeline for the office to actually staff up, and behind the timeline for early transferees to decide Franklin is where they are putting down roots.
What this means depending on why you're looking
- If you are relocating for a job at the new office, or for any employer along the Cool Springs corridor, the Berry Farms condo and flat market is the segment that has already started pricing in that demand. Waiting for it to look more like the neighborhood's single-family listings before deciding may mean paying next year's price for this year's unit.
- If you are a move-up family shopping the $1 million-plus tier, the calmer pace you are seeing is less a sign that Berry Farms is losing appeal and more a sign that the corporate relocation wave has not reached that price point yet. Fewer competing offers right now does not necessarily mean fewer later.
- If you are comparing new construction against resale, remember that all three active builders answer to the same Town Architect review, so the gap in finishes between a new home and an existing one is often smaller than the price gap suggests. As of mid-2026, a new-construction three-bedroom listed at $747,850 sat alongside an existing three-bedroom at $530,000 at comparable square footage in the same neighborhood. That gap is not really a story about quality. It is a story about when each house was built.
A note on timing
The headquarters is not finished. Completion is still tracked for October 2026, and hiring will ramp on whatever schedule the company sets once the building opens. The price split described here is a snapshot of a neighborhood absorbing an announcement before the thing announced actually exists. If the office fills faster than expected, the single-family tier could catch up quickly. If it fills slower, the gap could hold for another full reporting cycle. Either way, the segment worth watching over the next few months is not the one making headlines. It is the one that already moved.
Will the restaurant itself affect nearby home values? Probably not in any measurable way. The office behind it is the actual economic driver: 277 jobs and a nine-figure investment carry far more weight for a neighborhood's housing demand than a drive-thru, however long the opening-day line was.
Should I wait until the headquarters opens to buy in Berry Farms? The data does not support that as a universal answer. The condo tier has already absorbed a meaningful part of the anticipated demand. Waiting on that segment risks buying into next year's price at this year's mortgage rate.
Are all 277 new jobs going to relocate to Berry Farms specifically? Not necessarily. The jobs are based at the office adjacent to the neighborhood, but where those employees choose to live is an open question, and it is exactly the question the condo market appears to be answering first.
Berry Farms is a small neighborhood absorbing a large announcement in real time, and the numbers so far say the effect is arriving unevenly and ahead of schedule in one corner of the market. If you are trying to figure out what that means for a specific address, or how the timeline on the headquarters build might intersect with your own move, The Reed Collective can walk through the comps that matter for your situation. Get a free home valuation and find out where your Berry Farms property actually sits in this split market.
