Toyota Highlander Pricing Analysis: Nashville, TN Market Report

Pricing Analysis by Model Year

Key Insights

• Depreciation Stabilizes by Recent Years: The 2025 Highlander shows minimal depreciation with a current average price $39,982, slightly below MSRP by −0.9%. In contrast, the 2021 model sees a significant drop, priced −18.5% under MSRP at $28,587.
• Older Models Exhibit Steep Depreciation: Models from 2019 to 2016 range between −30.4% to −37.0% from their original MSRPs, indicating a strong depreciation trend for older vehicles.
• Best Value Opportunity: The 2022 Highlander at $33,598 demonstrates favorable value with less depreciation of −6.4%, suggesting it might represent the best balance between price, features, and recency.

Model Year Pricing

Pricing in Nearby Cities

Market Area: Greater Nashville Region

Key Insights

• Competitive Pricing in Lebanon and Murfreesboro: Both locations show the lowest average prices at $27,555 and $27,542, indicating high competition or ample inventory.
• Higher Prices Elsewhere: Cities such as Florence, AL ($29,778) and Bowling Green, KY ($29,146) reflect a premium pricing position, possibly influenced by lower stock levels or differing regional demands.
• Inventory Levels Impact Pricing: Cities with higher listings, like Lebanon (817 listings) and Murfreesboro (815 listings), tend to have the lowest average prices, suggesting enhanced competition among sellers.

City-Level Pricing

Pricing by Trim Packages

Key Insights

• Luxury and Features Drive Trim Value: The Limited AWD trim, with a MSRP of $50,325, showcases significant inventory demand but at a premium price compared to others.
• Supply Balance Among Trims: The XLE AWD trim leads in availability with 158 listings, making it the most competitive option for buyers seeking a blend of price and features.
• AWD Dominates the Market: The presence of AWD trims across the board reflects strong market demand for vehicles that offer enhanced driving capabilities.

Trim-Level Details

These recommendations are based on CarGurus' proprietary market data from June 18, 2026, CarGurus experts' opinions, and generative AI.