The property will also set a record for the largest residential real estate transaction ever in Tennessee if the seller gets anything close to its asking price. The current holder of that title sold it for $28 million in 2010.

The property, known as Twin River Farm, is owned by Larry Keel, co-founder of investment manager Oak Tree Capital Management, and his wife, Rayyan Keel, according to the Wall Street Journal.

After nearly three years of construction, the five-bedroom, 11,000-square-foot main house was completed in 2018.

"There's no question why this property was chosen for this incredible home," said listing broker Dan McEwen of The McEwen Group." The farm itself is the first and most impressive part of the property. It has two streams coming together. They built this gorgeous covered bridge next to a 5-acre spring-fed lake. When you walk through the gate, you enter one of the most beautiful settings.

The home was designed by architect Steve Giannetti and reflects a seamless transition between indoor and outdoor spaces. Basketball and tennis courts, miles of hiking and biking trails, a world-class fitness center and spa, grass chess and an organic greenhouse give the place a resort feel.

"The house itself is very well done and well thought out," McEwen said." What makes this property so unique, too, is the many different experiences you can have here... It's one of the premier homes in the southern United States."

The state-of-the-art swimming facility - complete with retractable roof, putting green, observation tower and entertainment pavilion - is just one of the home's many ultra-luxurious features.

"There's a sitting room with cashmere wallpaper off the [master] bedroom," McEwen notes." Almost all of the wallpaper was hand-painted for the house, and all of the lighting was custom-made for the house. The finishes are works of art. The fireplace and finishes in the kitchen are brass. The marble patterns in the [main] bathrooms look like flowing water. The theater room is very beautiful. There is a secret door that, when you pull open a book, leads to the basement where the game room is located."

The huge property seems designed for entertaining and overnight guests with its two-bedroom guest cottage and a gorgeous one-bedroom apartment about the animal barn. There is also a two-bedroom residence in the stables where the farm manager lives.

Buyers should note that the majority of the 383-acre parcel is in a land trust.

"All but 17 acres," McEwen says, "is in a land trust, so it's protected." You can do anything with those 17 acres, even subdivide the land. Franklin is the last agricultural valley that hasn't really changed. It's about a half hour from here to Nashville, and it's in a protected valley that's not developed."

McEwen believes the property will likely be enjoyed as a primary residence for a family.

"The seller is using it as a primary residence," he said." I can see a family relocating to Tennessee from out of state and wanting a farm setup. We're already interested in this home and it hasn't been on the market long. The buyer would probably be someone who owns multiple properties, too.