Dave Ramsey's palatial house in Cool Springs

Anyone that has been in Cool Springs TN lately, has most likely seen Dave Ramsey’s new house.  The ‘pay with cash’ financial guru, radio host, bestselling author and founder of Financial Peace University has constructed a palatial home next door to Lee Ann Rimes house on King Richard’s Court in the Cool Springs Franklin area.

If you’re not familiar with Dave Ramsey (in other words from another planet), his basic mantra is don’t use credit cards, don’t spend money you don’t have, save and always pay with cash.  Sounds like good advice.  Dave Ramsey has made a good living from his financial “get out of debt” books, cds, events and radio program.  Dave Ramsey’s main book and New York Times best seller is “The Total Money Makeover”.

Most people have seen Dave Ramsey’s home in Cool Springs from the distance although they may not have known it is his.  The house looks like a snow capped mountain but instead of snow, the mountain top is covered by Dave Ramsey’s home.  It is fairly majestic to say the least.

Over time we’ve had several readers ask about the palace Dave Ramsey recently built at 513 King Richard’s Court in Franklin.  It wasn’t until just recently that we had the opportunity to tour the neighborhood and see Dave’s new pad, albeit from the outside.  Coincidentally a few days later, we ran across someone in the construction business, who had worked on Dave Ramsey’s new home.  He shared some information about the inside, but unfortunately we do not have pictures.

King Richard's Ct. in Avalon Subdivision

The land at King Richard’s Court Franklin TN 37067 was purchased for $1,552,000 by Dave Ramsey on April 2, 2008.  For the tax year 2008 (before the home was constructed) annual taxes were just $4,938.  For the year 2010, the land market value is $750,000 and the improvement value is $4,159,200 for a combined total market appraisal of $4,909,200.

With financial guru Dave Ramsey’s home having a total tax appraisal roughly double that of Lee Ann Rimes next door, we estimate the retail value of Dave’s house to be around $9-$10 million.

A mortgage does not appear to have been recorded for the property.  That’s our Dave!

The tax record shows 3 levels in Dave Ramsey‘s Cool Springs home, totaling 13,307 square feet of living area and 1,454 square feet of garage.

From what we hear financial guru Dave Ramsey’s home office, including the sliding library wall ladder, is made of solid mahogany.  The shower in the master bathroom is rumored to have 18 shower heads and is larger than the jacuzzi tub.  Cathedral ceilings throughout.  The local who we spoke with felt the basement was by far the most impressive.  Full bar with whiskey barrels built into the walls, media room and several bedrooms make up the broad lower basement level you see from the distance, wrapping around the tip of the mountain.

We checked with Middle Tennessee Electric and for the last 12 months, the average monthly electric bill at Dave Ramsey’s house was $1,285 per month.

Dave Ramsey's house outside Nashville

Ahh…the things one could do with a 4,554 square foot basement.

Side view of Dave Ramsey's house in Franklin, TN

King of the hill at Avalon in Franklin, TN

The never occupied Cool Springs home of Lee Ann Rimes is also right next door to Dave Ramsey’s house at 512 King Richards Court.  It is currently available for sale at $6,499,000, recently dropped from $6,950,000.  Lee Ann’s home is built on 5.22 acres and 13,380 total square feet.  The house boosts 360 degree views of Cool Springs, salt water infinity pool, full second kitchen, Gagg wine cellar, bamboo floored yoga room and designed by Peirce and Company .  The inside is tastefully decorated and is a real stunner.

Stay tuned for a Cool Springs real estate feature on it soon!