The Greens performed strongly in the rural electorate of Lyons, while Liberal-turned-independent John Tucker lagged from the start.
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Before the election was called, Mr Tucker, Guy Barnett and Mark Shelton for the Liberal Party, and Rebecca White and Jen Butler for Labor held seats.
Early figures suggested the Liberals were on track to win three seats, Labor two and one each for the Greens and Jacqui Lambie Network (JLN).
Labor leader Rebecca White emerged as a strong contender to retain her seat, as did the Liberal incumbents, Mr Barnett and Mr Shelton.
Jane Howlett, who quit her legislative council seat to run for the Liberals in Lyons, also took a large share of first preferences.
There was some jockeying for position between Ms Butler and Casey Farrell for the second seat predicted to be won by Labor; however, as the count continued, the incumbent's advantage shifted.
The Greens' lead candidate, Tabatha Badger, had a good night. Early signs pointed to her winning a seat while the race remained tight for JLN candidates Andrew Jenner and Troy Pfitzner.
Much like his independent counterpart in Bass, Lara Alexander, Mr Tucker started toward the back of the pack and slipped further behind as the night wore on.
Ms White said it was clear Tasmanians had voted to reject the Liberals.
"Tasmanians have humbled a premier who called an early election, expecting to be returned in majority," Ms White said.
"Tasmania clearly voted for change, and when the Liberals call this early election, the second in three years, they called it not because they wanted to address the cost of living, not because they wanted to start turning around our health system ... but because they couldn't even work with people from their own party."