Two UT trustee committees will meet next week in Nashville to consider putting the 11,000-square-foot, four-story house in Knoxville's toney Sequoyah Hills up for sale.
UT spokeswoman Gina Stafford says the timing is right for the university. UT is between presidents and is trying to save money. Resigned President John Petersen will have to be out by the end of May.
The house was last appraised at $90,000 in 1960. Former Presidents Wade Gilley and John Shumaker spent more than $1.3 million on it from 2001 to 2003.
Stafford says the next UT president will probably get a housing allowance.