Binns Farms Active Adult Community Planned for Hermitage, TN

500 new homes are planned for the city of Hermitage in Tennessee.
500 new homes are planned for the city of Hermitage in Tennessee.
500 new homes are planned for the city of Hermitage in Tennessee.

Craighead Development and Ole South Properties are set to close on Binns Farms, a 285-acre site where they plan to build a 500-home active adult community and target 55+ homebuyers. Craighead Development and Ole South Properties paid $7.5 million for the site on Binns Farms at 4020 Hickory Hills Lane, northwest of Bonna Creek Drive near Lebanon Pike in Hermitage, Tennessee.

Metro council members have approved rezoning requests for the active adult community and hope that the proposed site will attract more established buyers and active adults to the area. According to Edsel Charles, chairman of new home research firm MarketGraphics, the Hermitage market can benefit from the planned 500-home active adult community and predicts that these new homes will sell quickly over the next two years due to the growing retirement segment and Central Tennessee being named one of the best places to retire.

About 500 of the lots from the active adult community will be developed in five phases and will include a clubhouse with amenities like a pool, fitness center, and card room. It would also feature single-level homes between 1,600 to 2,600 square feet and pricing in the mid $300s to mid $400s. Developers are planning to start work on the 500-home active adult community over the next five months with construction of the first phase to begin in one year. Homes are slated to be complete by late next year or early 2019.

Can you spot the $207,744 difference between these identical homes?

Financing is the difference!

Get the details in The 62+ Loan Homebuyers Guide.

55places Mortgage is a joint venture between Mutual of Omaha Mortgage and
Details here.

Share this post:

We're here to help! (800) 928-2055

Call us to speak with a customer service representative.

Subscribe to Our Newsletter

Get Weekly Updates

I agree that 55places and its affiliates, partner providers or agents may call, text, or email me about my inquiry, which may be made with automated means. I understand that my consent is not a prerequisite for buying a property. I may revoke my consent at any time by contacting Message/data rates may apply. I also agree to’s Privacy Policy and Terms of Use.

The Best Places to Snowbird in 2021

We’ve gathered 25 of the best places for snowbirds, including cities in Florida, Arizona, California, Texas, South Carolina, and Nevada. For each entry, we’ve also provided a list of recommended 55+ communities in the area. If you’re ready to find your own winter retreat this season, here are some of the best places to consider.

Older couple sits on couching doing their taxes in a no income tax state.

Should You Retire to a State With No Income Tax?

Unfortunately, retiring doesn’t always mean you can stop worrying about taxes. Depending on the source of your income, you might still have to pay both federal and state income tax. Let’s weigh up the pros and cons.

A 55+ adult woman plays pickleball outside.

Tennis vs. Pickleball: What’s Your Net Game?

Tennis has long been a favorite pastime for many adults, and pickleball is growing in popularity. What is the difference between these two sports, and how do you pick the right one for you? Here’s the breakdown to help you choose which is right for you.

A 55+ couple relaxing in lounge chairs on the beach.

25 Cheap Active Adult Communities for an Affordable Retirement

From scenic locations to impressive amenities, these communities provide a range of opportunities for active adults to enjoy their golden years while staying within their budget. Let’s explore 25 active adult communities that offer an affordable retirement experience.

Interest Rate vs. APR (And Other Mortgage Questions)

The mortgage process is pretty complicated. Even if you’ve gone through it before, it’s easy to get tripped up with all the steps, documentation, and financial jargon of it all. Are you planning on applying for a mortgage soon? Before diving straight in, here are some answers to commonly asked mortgage questions.

Two 55+ active adults relaxing in lounge chairs by the beach.

How to Decide Which State to Retire In

It’s common for active adults to relocate to a new state for retirement, and with thousands of 55+ communities across the country, it’s difficult to find the perfect place without narrowing the search first by state. The best guideline is to move to a state that can provide the lifestyle you’re looking for.

About 55places

We’re changing the way people 55 and older are searching for their perfect next place. With a national network of hand-selected real estate experts, plus comprehensive information, unbiased content, and on-the-go insight about thousands of communities across the country, we’re a trusted resource paving the way from here to home. Whether you’re interested in a low-maintenance single-level residence, an active lifestyle or age-qualified community, an intimate enclave, or anything in between, we can help you make your next move the best one yet.

Scroll to Top