A Nashville-area property once owned by married country stars Tim McGraw and Faith Hill is listing for $16.5 million.

The roughly 130-acre property is about 30 miles southwest of Nashville, according to listing agent Steve Fridrich of Fridrich & Clark Realty. Before selling to the current owners, it was part of a roughly 750-acre farm owned by Mr. McGraw and Ms. Hill, all of which they have since sold, according to records. A representative for Mr. McGraw and Ms. Hill declined to comment.

Brian and Carin Terp, who moved to Tennessee from Houston, spent about $3 million to buy the land from the celebrity couple in 2014 and then spent about $13 million building out the property, said Mr. Terp, who is an oil and gas investor.

The Georgian-inspired main house, completed in 2019, spans roughly 11,500 square feet and has five bedrooms. It has arched doors and windows, a wood-paneled study and a sunroom, said Mr. Terp.

The property has a three-bedroom guesthouse, completed in 2017, where the family lived before completing the main house, said Mr. Terp. An underground tunnel leads from the guesthouse to a four-stall barn where the family keeps two donkeys and a pet pig. There is a pen for several goats and a coop for chickens, he said.

The estate also has a pool, two three-car garages, timbered land and pastures. Mr. Terp started a small cattle company on the property with his eldest two daughters to teach them about business, he said, and their cattle lived and grazed on the property.

The Terps are selling because they are looking for a home closer to family, though they have not decided on a location, as their family is spread throughout the country, he said.

Nashville had 27.9% fewer luxury home sales in June, July and August compared with the same period of last year, as the median sale price rose 26.9% to $1.65 million, according to real-estate brokerage Redfin.