True Value Hardware Store Closing After 53 Years in Tennessee

Harpeth True Value Home Center in Franklin to shut down due to 'financial realities and changing retail landscape'

Mar. 24, 2026 at 10:53am

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Harpeth True Value Home Center, an independently owned True Value hardware store in Franklin, Tennessee, is set to close its doors permanently on April 1, 2026 after more than 53 years in business. The store's owner cited a steady decline in business, particularly in lumber sales, as well as the challenges of competing with large home improvement chains like Home Depot and Lowe's as the reasons behind the closure.

Why it matters

The closure of Harpeth True Value Home Center reflects the broader challenges facing small, independently-owned hardware stores as the home improvement retail market becomes increasingly dominated by large national chains. This trend has left less room for local stores to compete on price, convenience, and customer relationships.

The details

Harpeth True Value Home Center, which has been a fixture in the Franklin, Tennessee community for over 50 years, announced the decision to close its doors permanently on April 1, 2026. The store's owner, Mike Outlaw, cited 'financial realities and the changing retail landscape' as the reasons behind the closure, noting a steady decline in business, particularly in the lucrative lumber sales category. Outlaw said he tried to sell the store to potential buyers but was unsuccessful, leaving closure as the only viable option.

  • Harpeth True Value Home Center was founded more than 50 years ago.
  • The store announced its permanent closure on March 5, 2026.
  • The store will close its doors on April 1, 2026.

The players

Harpeth True Value Home Center

An independently owned hardware store affiliated with the True Value cooperative that has served the Franklin, Tennessee community for over 50 years.

Mike Outlaw

The owner of Harpeth True Value Home Center who purchased the business in 2022.

Home Depot

A large national home improvement retail chain that controls roughly 28% of the U.S. home improvement market as of 2025.

Lowe's

A large national home improvement retail chain that controls roughly 17% of the U.S. home improvement market as of 2025.

True Value

A hardware cooperative that competes in the U.S. home improvement sector alongside chains like Home Depot.

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What they’re saying

“It's hard to say how much the corporate bankruptcy hurt our business, but the perception was there.”

— Mike Outlaw, Owner, Harpeth True Value Home Center

What’s next

The owner, Mike Outlaw, said he tried his best to sell the store to potential buyers but was unsuccessful, leaving closure as the only viable option.

The takeaway

The closure of Harpeth True Value Home Center after over 50 years in business highlights the challenges facing small, independently-owned hardware stores as the home improvement retail market becomes increasingly dominated by large national chains. This trend has left less room for local stores to compete on price, convenience, and customer relationships.