Some potential pros of homeownership in Obion, Tennessee include:

1. Affordability: Generally, real estate in Obion and Obion County is relatively affordable compared to other parts of the country. This means that you can get more for your money when purchasing a home.

2. Sense of Community: Obion is a small village, meaning that there is likely a strong sense of community among residents. This can be a pro for some people who enjoy feeling connected to those around them.

3. Quiet Lifestyle: If you enjoy a quiet, laid-back lifestyle, Obion may be a good fit for you. With a population of just over 1,000 people, you won't find the hustle and bustle of a big city.

On the other hand, some cons of homeownership in Obion, Tennessee could include:

1. Limited Job Opportunities: With a small population, job opportunities may be limited in Obion itself. You might need to commute outside of the village for work.

2. Limited Amenities: While Obion may have what you need for day-to-day living (such as grocery stores and gas stations), there may be limited options for entertainment, dining, or shopping. You might need to travel to a larger city for these things.

3. Exposure to Natural Disasters: Due to its location in the southeastern United States, Obion may be at risk for natural disasters such as tornadoes, floods, or severe weather. You should factor this into your decision when considering purchasing a home there.

These are just a few potential pros and cons of homeownership in Obion, Tennessee. Ultimately, the decision of whether to purchase a home in Obion (or anywhere else) should be based on your individual needs and preferences, as well as your financial situation.