Turner Homes
HEADLINE: TURNER HOMES:
BUILDING FOR TODAY, PLANNING FOR GENERATIONS After 55 years in East Tennessee, this growing homebuilder is creating more paths to housing while investing in quality, people and lasting partnerships. Written by Dawn Killough Produced by Oscar Orozco
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When Andrew Fraser joined Turner Homes as chief financial officer in 2017, neither he nor the company had experience with the position. The East Tennessee homebuilder had never employed a CFO, and Fraser had never been one. Mike Turner, who was leading the business at the time, saw an opportunity to bring a new perspective into a company that had been building homes since 1971. “Mike brought me in as his CFO when he had never had a CFO before,” Fraser said. “I had never been a CFO before, so he took quite a risk on me.” Fraser became president in late 2022 and now serves as CEO of Turner Companies, the umbrella organization that brings Turner Homes and its affiliated housing businesses together. His progression reflects the evolution
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of a homebuilder that has grown substantially while retaining the relationships and entrepreneurial spirit behind its earliest years. Turner Homes builds approximately 350 homes annually across the Knoxville and Chattanooga markets, according to Fraser’s interview. Approximately 100 people work across the broader organization, whose activities extend
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into land development, brokerage, property management and rental housing. After 55 years in East Tennessee, the company is planning for a future that reaches well beyond its next neighborhood. “We really do talk a lot about 2040 and 2050,” Fraser said. “Let’s make decisions that matter not only today but thinking about 30 years from now.”
Fraser’s first decade in public accounting and finance introduced him to businesses across several industries, including general contractors. He learned to look beyond financial statements to understand why companies succeeded or struggled, gaining exposure to management practices and operating systems he would later draw upon at Turner Homes.
Learning homebuilding required a different That perspective influences how Turner Homes education. Fraser asked questions, accepted acquires land, delivers homes and invests in coaching and made decisions that did not its people. The company expects to remain in always work as intended. Turner gave him the the communities it develops, including as an freedom to learn from those experiences while owner of rental properties, giving it a continuing gradually transferring responsibility for the interest in how those neighborhoods perform company’s day-to-day operations. after the initial homes have been sold. “He was a great coach, a great mentor and just a very gracious person who allowed me to Growing into leadership make a lot of mistakes,” Fraser said. “He would gently correct and coach.”
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Turner Homes As Fraser moved into leadership, his attention shifted from financial oversight toward the land and people needed to sustain growth. “As CFO, I worried about money and spent a lot of time in Excel,” he said. “Now I worry about land and people and spend more time in Word.” Today, capital planning and land strategy share his attention with organizational communication. Visits to jobsites and conversations with employees help him stay connected to the work, but he has learned to trust the teams responsible for executing it. His role is increasingly to provide direction and keep people aligned rather than become involved in every decision. The company’s size makes that distinction
important. Turner Homes employed fewer than 25 people when Fraser arrived. As the broader organization grew to approximately 100, informal processes that worked for a small team became harder to maintain across multiple offices and jobsites. In 2020, Turner Homes adopted the Entrepreneurial Operating System, or EOS, to create a common framework for communication, accountability and performance tracking. The approach eventually extended across its affiliated businesses, giving teams a shared rhythm without abandoning the entrepreneurial culture that had helped the company grow. “It has helped us operate more healthily, grow accountably and not have a crazy operating atmosphere,” Fraser said.
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Turner Homes The broader organization now operates under the Turner Companies brand, aligning the homebuilder with its related development, real estate and financing businesses. For Turner Homes, that structure supports a housing approach intended to serve customers through more than one stage of their lives.
More paths to home Knoxville and Chattanooga have attracted residents seeking the opportunities and quality of life East Tennessee offers. The Great Smoky Mountains and the region’s lakes are part of the appeal, alongside employment and educational anchors such as the University of Tennessee and Oak Ridge National Laboratory. Restaurants, entertainment and revitalized downtown districts have added to the attraction of both cities.
“Let’s make decisions that matter not only today but thinking about 30 years from now.” Andrew Fraser, CEO, Turner Companies
The demand has also changed markets once widely regarded as affordable alternatives to larger metropolitan areas. Rising land and construction costs make it more difficult to deliver homes at prices local buyers can manage. “It’s both a blessing and a challenge to have people wanting to move here, but it has definitely changed the math for a lot of people,” Fraser said.
For a builder, those pressures begin before construction. Turner Homes must invest in land years before it can expect a return, while entitlement and approval processes make the timing uncertain. Existing neighborhoods continue moving toward completion even as future communities await permission to proceed. Fraser sees local policy as an important part of the affordability equation. Communities must weigh development against concerns about green space, infrastructure and density, but those decisions influence the supply and cost of housing. Fewer permitted homes spread land costs across fewer buyers, while lengthy approvals can make projects less practical to pursue. Building requirements can improve long-term performance, yet also increase the cost of purchasing a home. Turner Homes responds by examining the housing choices it can offer. Its broader business includes homes for purchase, traditional rentals and lease-purchase opportunities, recognizing that customers have different financial circumstances and preferences. “We recognize that not every individual, every person, every resident is a homebuyer,” Fraser said. “The paths to home are as varied as people are.” Mortgage-rate buydowns, seller credits and closing-cost assistance help some customers purchase homes. In certain communities, Turner Homes has also offered to pay
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Turner Homes
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Turner Homes several years of homeowners association fees. Fraser has considered other incentives, including covering property taxes for a period, but recognizes that promotions cannot fully overcome the underlying costs of land, materials and labor. Designing the appropriate home for the buyer offers a more lasting response. Townhomes create options for people who do not need, or cannot comfortably afford, a larger detached house on a quarter-acre lot. The company also reviews specifications to avoid adding features that raise prices without providing meaningful value to the intended customer. “We’re making sure that we’re not overdesigning for the buyer,” Fraser said, “but making sure that we’re hitting what matters for the buyer and not doing the things that don’t matter just to keep that cost down.”
“When that homeowner moves in, they have a finished product, not a long punch list.” Andrew Fraser, CEO, Turner Companies
Quality before the keys Turner Homes offers three product lines with different opportunities for buyers to personalize their homes. Within the Summit line, 10-foot ceilings on the main level create a spacious feel, while arched interior doorways, rooflines and front porches contribute to the homes’ architectural character. Granite countertops and raised bathroom vanities are among the standard features Fraser described.
Other choices serve homeowners less visibly. Extended roof eaves help direct water away from the foundation, and the company emphasizes established brands and quality materials. The focus is on how a house will function over time as well as how it looks when a buyer first walks inside. Before closing, an in-house quality-control team independently evaluates every home through two internal walkthroughs and inspections. Issues are documented and corrective work is completed before the customer moves in, reducing the chance that a new homeowner’s first weeks will revolve around unfinished construction. “When that homeowner moves in, they have a finished product, not a long punch list,” Fraser said. The process connects construction quality with customer service. Buyers can begin settling into their homes with fewer disruptions, while the inspections give Turner Homes information it can use to improve work across its communities. When recurring problems emerge, management addresses them with construction teams and trade partners. A misunderstanding of a plan may be resolved through a conversation; continued problems can require a change in subcontractors. The preference is to build dependable relationships with partners who understand the company’s expectations and can carry that knowledge into future neighborhoods.
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Turner Homes generally keeps the same subcontractors working within individual communities. Although rebidding every home might produce some savings, Fraser believes the resulting changes could weaken quality and slow construction. A consistent team brings familiarity with the plans and a shared understanding of the finished product. “We focus on the long-term sustained relationships with the same high-quality trade partners that we can keep moving through neighborhoods and into years with,” he said.
“The paths to home are as varied as people are.” Andrew Fraser, CEO, Turner Companies
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The company’s history strengthens those relationships. Turner Homes has remained in East Tennessee through changing markets, giving crews confidence that the work will continue beyond a single project or a favorable housing cycle. That continuity benefits the builder as well, helping it retain experienced partners as demand grows.
Improving home performance Turner Homes applies its emphasis on continuous improvement to the materials and systems within its houses. Spray-foam insulation is standard in Summit specification homes because the company believes its benefits justify including it from the outset. “It’s typically an upgraded line item, but in
Turner Homes every Summit home that we start as a spec, we just go ahead and include it because we believe in the benefits of it that much,” Fraser said.
as a single major change, the company considers how individual construction practices and materials contribute to the homeowner’s experience over time.
Townhomes can offer additional efficiencies through shared walls that reduce heating and cooling demands. LED lighting and tankless water heaters support the company’s efforts to improve energy performance, while material selections include Mohawk RevWood flooring and EverStrand carpet made using recycled plastic bottles. James Hardie siding products incorporate sustainable raw materials. These decisions give Turner Homes opportunities to improve performance and durability as it evaluates what belongs in each product line. Rather than treat improvement
Investing in people The long-term approach extends to employees. Turner Homes places particular importance on cultural fit, using the EOS principle of the right person in the right seat to consider both an employee’s abilities and the way that person works with others. Fraser wants a workplace where people can contribute to a growing business while retaining time for the things that matter outside work.
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Turner Homes The Glacier Fund gives employees a direct connection to the company’s ongoing success. Several years ago, Turner Homes began transferring company-built houses into the fund. The rental properties generate quarterly distributions for employees, allowing them to participate in the performance of homes their organization has created. “It gives them a chance to participate in what we do here,” Fraser said. Employees received symbolic keys representing properties added during the fund’s earlier years. Updates at quarterly town halls now help them follow its progress. Those meetings also bring colleagues from offices, jobsites and Chattanooga together,
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countering the separation that can develop when construction teams work across many locations. The annual Big Fall Town Hall adds a half-day of learning, activities, meals and conversation. Fraser’s own experience with mentors helps explain his attention to people. Randy Smith, a former CFO for whom he eventually worked, began guiding him while he was still in college and remains part of his life. Mike Turner taught him about the responsibility to care for employees while giving him room to grow professionally. Jim McKinney, whom Fraser has known since high school, has provided spiritual guidance and a perspective beyond the immediate demands of business. Turner Homes has also helped people find their
Turner Homes way into construction through KnoxWorx, an organization providing job training and career opportunities. The company has hosted site visits for young people exploring the industry and hired graduates of the program. “We’ve actually hired a few KnoxWorx program graduates over the last few years and helped them succeed and live a different life,” Fraser said. He believes the industry’s labor shortage creates opportunities for the next generation. Construction depends on many disciplines, and his own move from accounting into homebuilding demonstrates that a career can begin well beyond a jobsite. Continued demand for those skills can offer a path to both a good living and a lasting career. The company is exploring another community initiative through its participation in Parade of Homes events. A potential partnership with nonprofit organizations, financial institutions and trade partners could direct a portion of a showcase home’s eventual sale proceeds toward charitable work. The concept remains under development, but it reflects the company’s interest in using its capabilities to create benefits beyond individual building projects.
A future in East Tennessee As Turner Homes looks ahead, Fraser expects growth to require continued attention to the systems and relationships supporting the business. More employees and more communities bring greater responsibility to
communicate clearly, maintain quality and provide housing that fits the region’s changing needs. The company’s rental holdings keep that responsibility tangible. Turner Homes expects to remain invested in the places it builds long after the initial sales are complete, with decisions about construction and community development carrying consequences it intends to share.
“We plan on being in our communities in Knoxville and Tennessee, owning rental properties in the communities that we build in for the next 50 years or more.” Andrew Fraser, CEO, Turner Companies
“We plan on being in our communities in Knoxville and Tennessee, owning rental properties in the communities that we build in for the next 50 years or more,” Fraser said. For a company that has already spent 55 years in East Tennessee, the ambition builds on a record of continuity through change. Its scale, structure and leadership have evolved, but the next stage remains connected to the homes, employees and partnerships that brought it this far. Fraser is planning for a future in which Turner Homes will still be there, working in the communities shaped by the decisions it makes today.
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COMPANY INFORMATION Company Name: Turner Homes Country: United States Industry: Residential construction Est: 1971 Premier Services: Homebuilding, residential community development, rental housing and lease-purchase opportunities CEO: Andrew Fraser (Turner Companies) Website: turnerhomes.com
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TURNER HOMES Knoxville Office 11820 Kingston Pike Knoxville, TN 37934
Chattanooga Office 6108 Ooltewah Georgetown Rd, Ooltewah, TN 37363