Open space covers more than 93% of Tennessee and provides numerous environmental and recreational benefits that are not directly reflected in market prices. This study examines how different types of open space influence nearby residential property values, offering insight into the economic value of conservation and informing land-use and public investment decisions. Results indicate that homes located closer to permanently protected open space generally command higher property values, particularly in metropolitan areas where undeveloped land is less abundant. However, the value of open space varies by land cover type and region, with agricultural lands typically increasing nearby home values while some developed open spaces are associated with lower values. These findings suggest that conserving scarce and regionally valued open spaces can provide measurable economic benefits while supporting more informed land-use planning and conservation policies.
