The village has a unique collection of historical structures in original condition that is unusual for suburban Detroit.

The William Huston store, opened in 1830, was the forerunner of a business center that later included the famous Broughton Wagon Shop, the Van Every Mills, now Ye Olde Cider Mill; several taverns, two distilleries, and two churches.

Thus the following year, the first school in Southfield Township was erected in Franklin Village.

Sophie Gotie taught twenty-nine students in a log schoolhouse located near the still extant house of early settler Daniel Broughton.

On this site in 1869 a third school was constructed on land given by wealthy postmaster A.A. Rust.

After that building burned in 1922, the village erected the present school on this same location.

In September 2007, the community raised another $1 million to continue the project's second phase, which was completed in 2008.

Franklin also the hometown Farmbrook Free Press, a small publication.

According to the United States Census Bureau, the village has a total area of 2.66 square miles (6.89 km2), all land.

15.7% of all households were made up of individuals, and 8% had someone living alone who was 65 years of age or older.

The Franklin Cider Mill was established as a gristmill in 1837, the year Michigan became a state.

The village employs one firefighter and a chief; the rest of the force is volunteer.