Police are investigating reports of a gunshot during an incident in Prospect Vale last night.
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The incident was reported to police at 11.40pm in the areas of Prospect Park and Harley Parade.
In a statement, Tasmania Police said it was the people involved in the incident were known to each other.
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"Police are investigating and following a specific line of inquiry," the statement reads.
"Investigators would like to speak to anyone who may have heard a loud bang in the area or saw a champagne-coloured Audi, a white Kia or a dark coloured Toyota Landcruiser flat tray in the area at the time."
Anyone with information, CCTV or dash cam footage can contact Launceston Criminal Investigation Branch on 6777 3945 or Crime Stoppers on 1800 333 000.