Very rough guess, your MS tax burden might be in the range of $3500. Property tax values vary by locality, but I just used the average for each state, and based on the house values you'd pay 650 more in prop tax per year in TN. So MS costs about $2850 more.
Again rough numbers, mortgage calculator says principal and interest for a MS house might be 10k/year, whereas TN would be 15k. So that's about 13k yearly in MS versus 15k in TN- even before accounting for PMI and insurance, MS is looking like a winner on a cash flow basis.
Of course, the mortgage builds equity, so not all that payment is being 'thrown away'. If we look at just interest, over the life of a 30 year mortgage, in TN you'd pay maybe 65k more in interest. Which is about 23 years worth of MS income taxes right there. So if you retire before 23 years pass, you'll definitely come out on top buying in MS.