The short answer
The terms buyers hear at Tennessee National, the private, gated lake and golf community on Watts Bar Lake in Loudon, Tennessee, fall into a few groups: lake terms such as TVA, summer pool and slip, the five ways to own, and buying terms such as survey, setback, easement, CC&Rs, earnest money and design review. This glossary defines each one in plain words.
Key facts
- Watts Bar Lake is a TVA reservoir with more than 39,000 acres of water and 722 miles of shoreline.
- Watts Bar summer pool runs about 740 to 741 feet. The winter minimum is 735 feet.
- The golf course at Tennessee National is a Greg Norman Signature course: 18 holes, 7,393 yards, par 72.
- The Tennessee National marina is full-service, with 140+ boat slips.
- The five ways to own are The Timbers, lake homesites, waterfront homesites, Land & Home packages and townhomes.
- There is no deadline to build after you buy a homesite at Tennessee National.
Buying into a lake and golf community comes with its own vocabulary. Some of it is real estate. Some is golf. Some is about how Watts Bar Lake works.
This glossary defines the terms you are likely to hear at Tennessee National, the private, gated community on Watts Bar Lake in Loudon, Tennessee. Terms are grouped by topic, so you can read one section at a time.
What do the location terms mean?
The location terms place Tennessee National in East Tennessee, close to Knoxville.
Loudon. The town where Tennessee National is located, in Loudon County. Town is about 5 minutes from the gate.
East Tennessee. The eastern part of the state. Knoxville is the nearest city, about 30 minutes away. Nashville is a different region, about two and a half hours west.
I-75. The interstate that runs between Knoxville and Chattanooga. It is about 10 minutes from the gate.
McGhee Tyson Airport (TYS). The Knoxville-area commercial airport, about 35 minutes away.
Farragut and Turkey Creek. A shopping and dining area about 20 minutes away.
What do the lake terms mean?
The lake terms describe Watts Bar Lake and the agency that manages it.
Watts Bar Lake. A TVA reservoir on the Tennessee River. It is freshwater, with more than 39,000 acres of water and 722 miles of shoreline.
TVA. The Tennessee Valley Authority. TVA manages Watts Bar Lake, sets the lake level and issues permits for docks and other shoreline construction.
Summer pool and winter pool. The lake's seasonal levels. Summer pool runs about 740 to 741 feet. The winter minimum is 735 feet. That is a change of about 5 to 6 feet. TVA posts current levels.
Navigable. Open to boat travel. Watts Bar is a 72-mile navigable reservoir.
Lock. A chamber at a dam that lifts or lowers boats from one lake level to the next. Locks connect Watts Bar to the rest of the Tennessee River system.
Shoreline permit. TVA's approval for a dock or other work at the water's edge. You may hear it called a Section 26a permit.
Flowage easement. A right to raise water onto low land along a lake. It can limit what is built there.
Full-service marina. Tennessee National's marina on Watts Bar Lake, with 140+ boat slips. See marina and lake life.
Slip. A parking space for a boat at a marina.
What do the golf and community terms mean?
The golf and community terms describe what is inside the gates.
Greg Norman Signature course. The golf course at Tennessee National. There is one course: 18 holes, 7,393 yards, par 72. See golf.
Par. The number of strokes a skilled golfer is expected to need. Par for the course is 72.
Club membership. How golf and club access are arranged. Golf membership questions go to the club.
Golf cart community. A place where residents use golf carts to get around inside the gates. Tennessee National is one.
Gated. Entry is controlled at a gate. All 1,492 acres of Tennessee National are gated.
Master-planned community. A community designed as a whole, with roads, amenities and homesites laid out under one plan.
Marina District. The part of Tennessee National with the lakefront boardwalk.
Social clubs. Interest groups for residents. Tennessee National has 22 social clubs and 180+ events a year. Wine, books, cycling, tennis and cards are examples.
What are the five ways to own?
The five ways to own are the kinds of property you can buy at Tennessee National.
| Term | What it means |
|---|---|
| The Timbers | Wooded homesites |
| Lake homesites | Homesites named for their lake setting. Ask what view and water access each one has |
| Waterfront homesites | Homesites named for the waterfront. Ask where the property line sits and what is allowed at the shoreline |
| Land & Home packages | A homesite and a home offered as a package. Ask what is included |
| Townhomes | Attached homes. Ask what the dues cover |
A few related terms:
Homesite. A lot you buy to build a home on.
Custom built. Designed and built for its owner. Homes at Tennessee National are custom built.
Finished home. A home that is already built. Finished homes are listed on the properties page.
No deadline to build. Buying a homesite at Tennessee National does not start a clock. There is no deadline to build after you buy.
Design review. The step where house plans are checked against the community's design guidelines before building. Homes at Tennessee National go through design review.
What do the paperwork terms mean?
The paperwork terms are the words on the documents you read and sign.
Info pack. Where current pricing lives. Request the info pack.
Land consultant. The Tennessee National team member who shows property and answers buying questions.
Purchase agreement. The written contract to buy. It sets the price, the earnest money, the closing date and any contingencies.
Earnest money. A deposit that shows you are serious. It is usually credited toward the price at closing.
Contingency. A condition in the contract that lets you step back, such as financing that does not come through.
Due diligence. The checking you do between contract and closing.
Title work. A search of the public record for anything recorded against the property. A title company or closing attorney does it.
Survey. A licensed surveyor's drawing of the lot. How to read a lot survey explains the drawing.
Setback. The minimum distance a building must stay from a property line.
Easement. A right someone else has to use part of your land, such as a utility company.
Buildable area. The part of a lot left for a house after setbacks and easements.
HOA. The homeowners association. It typically looks after shared areas and enforces the community's rules.
CC&Rs. Covenants, conditions and restrictions. The recorded rulebook for the community. How to review HOA documents and CC&Rs covers what to read.
Closing. The step where documents are signed, money changes hands and the deed is recorded.
What do the money terms mean?
The money terms describe what ownership costs over time.
Holding cost. What it costs to own a homesite before you build: property taxes, insurance, any dues that apply, and interest if you borrow.
Lot loan. A loan to buy land. It works differently from a home mortgage. Ask a lender.
Construction loan. A loan that pays for building a house in stages. Ask a lender.
Property tax. A local tax on real estate. Ask the county for current figures.
No state income tax. Tennessee has no state income tax. Ask a CPA what that means for you.
How should you use this glossary?
Use it to ask better questions. Read the section that matches your biggest question, then bring those terms on a visit. When someone says summer pool, setback or design review, you will know what it means and what to ask next.
A glossary is not advice. A definition tells you what a word means, not what it means for your purchase. For that, ask the person whose job it is: a surveyor, a title company, a lender, an attorney, a CPA or the land consultant.
Frequently asked questions
What does TVA mean for a Watts Bar Lake homeowner?
TVA is the Tennessee Valley Authority, which manages Watts Bar Lake. TVA sets the lake level through the year and requires a permit for docks and other shoreline construction. A homeowner near the water at Tennessee National should ask TVA what is allowed at that shoreline.
What are the five ways to own at Tennessee National?
The five ways to own at Tennessee National are The Timbers, which are wooded homesites, lake homesites, waterfront homesites, Land & Home packages, and townhomes. Finished homes are listed on the properties page. Pricing is in the info pack.
What is design review at Tennessee National?
Design review is the step where house plans are checked against Tennessee National's design guidelines before construction. Homes at Tennessee National go through design review. Ask the land consultant for the current guidelines before you hire a designer.
What does it mean that there is no deadline to build?
No deadline to build means that buying a homesite at Tennessee National does not start a clock. You can hold the land and build when you are ready. Property taxes and any dues that apply to the land still have to be paid while you wait.
What is a slip at a marina?
A slip is a parking space for a boat at a marina. Tennessee National's full-service marina on Watts Bar Lake has 140+ boat slips. Ask the marina about current slip availability and which sizes are open.
Facts about Tennessee National come from the community. Lake facts come from TVA. Rules, taxes, loans and insurance change, so confirm anything that affects a purchase with the right office or professional before you buy.