The country music couple are putting their island paradise on the market.
The island, located in the Bahamas, is known as L’île d’Anges and is listed at $35 million, as first reported by The New York Post.
A source tells ET, "Since Tim and Faith are recently empty nesters, they weren’t getting to spend as much time at the island as a family as they had for many years and instead are spending time visiting their daughters."
The couple reportedly bought the island in 2003 and spent 17 years developing it into an idyllic getaway for their family.
According to a 2017 profile on the couple's island retreat in Architectural Digest, the 20-acre property comes with 1.3 miles of water frontage -- no doubt one of the many points of consideration for potential buyers. Along with the 6,500 square foot main property, complete with four beds, five baths and a full-on observation tower.
There are an additional 5,500 square feet of coverage passageways and verandas across the terrain.
Hill told the publication that the couple had underestimated the scope of the building project they would be undertaking when they first purchased the island.
"We set out to build a house. We had no idea we had to build everything else," Hill said. "We basically had to build a little town."
Together, McGraw and Hill share three daughters -- Gracie, 23, Maggie, 22, and Audrey, 19.
Back in August, McGraw opened up to ET's Nischelle Turner about spending family time together in quarantine, and how great it's been to share more time with his wife and kids.
"It's been so much fun because our three daughters have been home with us for the last month," he marveled. "This morning our two California girls left to go back home, but Audrey's still here. And we had a month of just staying here at the house... The girls set the table outside every night and made big meals. It's nice to sit with your daughters, having a glass of wine and talking about politics and getting into these political arguments and discussions, and playing these games."
Check out the video below to hear more.