Miley Cyrus has splashed out $5.8 million for 33-acre farm in Williamson County, Tennessee

Steve Fridrich, owner of Fridrich & Clark Realty told The Tennessean: "It's a prominent, sought-after area for those that still would like to be close to either Franklin or Nashville, but seeking a rural, equestrian environment.

Miley was born in the area and attended Williamson County Schools.

Last year, Miley, 24, bought a $2.525 million two-acre estate in a gated enclave above Malibu's Paradise Point.

The home is located next door to the property owned by her fiancé Liam Hemsworth.

Meanwhile, Miley disappointed her fans when she pulled out of the Teen Choice Awards in Los Angeles at the last minute over the weekend.

The star was due to be presented with the Ultimate Choice Award but presenter Victoria Justice revealed the star wouldn't be able to make it just minutes before the show aired live.

She said: "Unfortunately, Miley Cyrus couldn't make it ... but here's Jake Paul."

Miley took to her Instagram to say sorry for her fans, admitting she was "beyond bummed" to have missed out on the ceremony.

She wrote: "To my dearest fans & all of those watching @teenchoicefox ! I want to say thank you from the very bottom of my heart for presenting me with #TheUltimateChoiceAward ! I am beyond bummed I couldn't make it to the show as I had every intention of being there to accept and celebrate this honor! I created an unrealistic schedule for myself which leads me to this announcement! (sic)"

But Miley managed to promote her new single in the message, insisting to fans that she is "looking forward" to making music for "the rest of [her] life".

She added in the post: "I've been tryin to keep the secret but I can't hide it any longer! My new single / music video #YoungerNow will be dropping this Friday , Aug 18th & I am sooooooo EXCITED to share it with all of you! I hope to always make people smile and shine light thru my work! I look forward to making music for the rest of my life and I'm thankful everyday for those who listen! I am sending so much love and peace into the world right now because THATS what we need most! Love Love & more LOVE! (sic)"