There are several neighborhoods that you could choose from. Our area is very popular because of the low taxes. You would be looking form 125-225k. If you would like to search for free check out http://www.WestTNHomesForSale.com. You can call me anytime and ask questions, I have lived in Jackson since 1988 and I know our area well.
Several neighborhoods and types of housing come to mind that might fit your criteria. I think Jackson TN has modest housing cost as relates to a lot of other areas of the country; I don't know whether you are thinking of renting or buying, but I think we can find the perfect retirement home for you and I know you will find Jackson, TN a enjoyable and comfortable place to spend many years. I am sure I can find the perfect home for you.
We do have some condos in that area that are in gated communities with association dues to maintain your grounds and also common areas such as pools, club house, walking tracks, etc. They range from $150,000 to $200,000. We also have some Zero Lot Line properties ranging from $100,000 to $150,000 where you would be responsible for maintaining the grounds.