My wife, and two daughters live in G'town, just off Forrest Hill-Irene Road, by ECS Elementary School (a private Christian School). We're in the Duntreath neighborhood--very affordable. Houses run from $285k to a several that are in the multiple millions range. Germantown Elementary School, Houston Middle, and Houston High School(s) serve this area. I have not heard one complaint from any of my buds whose children attend these schools. They have very good advance placement programs. My wife has been home-schooling our girls (2nd & 6th grade, currently), but NOT because of any deficiency in the schools. WHEN the time comes to put them into a structured school environment, we very possibly may put them into the public system where we reside. We take a look at it each year during the summer, give each girl a 'how-goes-it' review/evaluation, and to date, have continued the H/S curriculum. The three schools I mentioned are very well regarded by nearly every parent I've ever spoken to. You'd be hard pressed to find a better (public) school in the state of TN. Hope this helps.
Chuck