Hot Springs is located in Madison County northwest of Asheville, between Weaverville and Newport, TN along US Hwy 25/70 on the banks of the French Broad River within the Pisgah National Forest of the Appalachian Mountains near Marshall and the Great Smoky Mountains National Park. The Appalachian Trail crosses through Hot Springs. The population estimate for July 1, 1998 was 578, an increase of 44 since 1990.

Hot Springs is part of the Asheville, North Carolina metro area.