True Value hardware closing Franklin, Tennessee location after 53 years in business

A hardware store that served Franklin, Tennessee, for more than five decades is preparing to close its doors for good.

Harpeth True Value Home Center, an independently owned store affiliated with the True Value cooperative, announced via Facebook on March 5 that it will permanently close on April 1, 2026, citing financial pressures and a shifting retail landscape.

“Like many small, independent businesses across the country, financial realities and the changing retail landscape have made it impossible for us to continue,” the store wrote on Facebook. “This decision was not made lightly.”

Owner Mike Outlaw told the Williamson Herald that the closure stemmed largely from a steep drop in lumber sales, which had once accounted for 70 to 80 percent of the store’s revenue. Mr. Outlaw purchased the business in 2022, inheriting longstanding relationships with local builders — but said those customers eventually took their business elsewhere, and foot traffic declined along with them.

Mr. Outlaw said he made efforts to sell the store and met with multiple potential buyers before concluding that closure was the only option remaining. “I did everything I could do to find a buyer,” he told the Herald, “but this is the last thing I wanted to do: close the business.”

The store also noted that True Value’s 2024 corporate bankruptcy filing may have contributed to its struggles. “It’s hard to say how much the corporate bankruptcy hurt our business,” Mr. Outlaw said, “but the perception was there.” He said there are no current plans to seek bankruptcy protection for the Franklin location.

The broader hardware and home-improvement market has grown increasingly difficult for independent operators. In 2025, Home Depot held roughly 28% of the U.S. home-improvement market, with Lowe’s controlling about 17%, according to industry data from the Numerator Home Improvement Tracker, leaving little room for smaller stores to compete on price or logistics.

Harpeth True Value is not alone in its struggles. Another True Value location in Mountain View, California — Blossom True Value Hardware — is also slated to close this summer when its lease expires. The True Value cooperative is now owned by Do It Best, a member-owned cooperative.

The Franklin store invited customers to stop by before its final day, not just to shop, but to say goodbye to staff members who, in some cases, have worked there for decades.