One the evening of Wednesday,November 15th as I was driving home on Westland Drive outside of Knoxville, Tn. at 10:20 p.m. I witnessed what I thought at first to be a low flying plane. Not unusual to see planes in the area as McGhee Tyson airport is about 7 miles to the south, but this looked at first to be only a few hundred feet high. It at first seemed to bank from the right and then level off. At this point the craft was about a half mile in front of me but directly over the road. AS I approached the craft I expected to see it gain elevation and then get further away. It did neither. at about a quarter mile I could see that it was stationary. It had two white lights on either side of the wing and a red light in the middle that flashed about every 3 seconds. I was now directly across from a middle school and slowing down. Still no apparent movement. I then went directly under the craft and looking straight up I noticed from the lights on the side that were illuminating the body of the craft that it was round or oval shaped. AS much as I wanted to pull over and observe this craft, I just sort of really freaked and kept on driving. I will probably always regret not stopping and observing this, but my mind just told me to keep on driving.