The Harpeth True Value Home Center, a staple in Franklin, Tennessee, is closing its doors after over 54 years of service. The store, which has been a part of the community since its inception, is set to shut down permanently on April 1, 2026. This closure highlights the urgent challenges faced by true value stores in an evolving retail environment.
Previously, Harpeth True Value thrived as an independently owned store affiliated with the True Value cooperative. However, the financial realities and the changing retail landscape have made it impossible for the store to continue operations. Owner Mike Outlaw expressed his disappointment, stating, “I did everything I could do to find a buyer, but this is the last thing I wanted to do: close the business.”
The store’s closure is attributed to several factors, including a significant decline in sales. Notably, lumber sales, which accounted for 70% to 80% of the store’s revenue, have been drastically affected. The situation worsened after True Value filed for bankruptcy in 2024, which likely impacted the store’s performance. Outlaw remarked, “It’s hard to say how much the corporate bankruptcy hurt our business, but the perception was there.”
The competitive landscape has also shifted dramatically, with major players like Home Depot, Lowe’s, and Amazon dominating the market. In 2025, Home Depot controlled 28% of the market, while Lowe’s held 17% and Amazon 11%. This competitive pressure has left small, independent businesses like Harpeth True Value struggling to survive.
As the store prepares to close, it has expressed gratitude to the Franklin community for their loyalty over the years. In a heartfelt message, Harpeth True Value stated, “From the bottom of our hearts, thank you for welcoming us into your lives for more than 50 years.” This closure not only marks the end of an era for the store but also serves as a stark reminder of the challenges faced by small businesses in today’s retail climate.
Details remain unconfirmed regarding the exact impact this closure will have on the local economy and the future of similar businesses in the area. However, it is clear that the landscape for true value stores is changing rapidly, and many are left to wonder what the future holds.
