Good question! With other public transit projects in US cities consistently reaching above $500 million per mile, this may seem out of reach for all but the biggest cities in the nation. However, because of its history, the Knoxville area is incredibly fortunate - it already has an extensive network of railroads as seen below.
The Tennessee Department of Transportation is carrying out or plans to carry out road development projects in the Knoxville area totalling over $1bn over the next decade. This includes a new $523mn exit off of I-40/I-75, $61.8mn improving the Watts Road exit and $193.7mn widening Alcoa Hwy.
As can be seen in the map above, railroad tracks parallel most major highways in the metro area - I-75/I-40 to the west, Alcoa Hwy to the south, I-675 to the northeast, I-40 and Asheville Hwy to the east, and Clinton Hwy and I-75 to the north.
As the Knoxville area has a high degree of car-dependency, a park-and-ride system would be the most logical. This would allow commuters to drive to their nearest station, park (this is free in many cities), and take the train the rest of the way.
Induced demand in road networks