Marissa Lyttle, the game's leading scorer, poured in 30 points for the Tigerettes, who led 27-25 at the half before the Lady Panthers came up with a 21-point third quarter, taking a 44-37 lead into the final eight minutes.
The Tigerettes came up big, scoring 20 points in the fourth period before falling just short in the waning moments of the contest.
Allison Hargrove chipped in with a dozen points for MCHS, while Mecia Reed scored seven, and Michala Hopkins, Morgan Moyers, Christy Pettigrew and Kiya Morris all netted a deuce.
The Tigerettes (6-12, 6-4) are tied with Summit (8-11, 6-4) for the all-important fourth place spot in the District 12-AA standings, but the Lady Spartans hold the tiebreaker over Marshall County, thanks to a 52-48 win over the Tigerettes earlier in the season.
The two squads will hook up at Dottie Kelso Memorial Gymnasium on Jan. 25.
Leanna Amacher led the Lady Panthers with 25 points.
The Tigers two-point win over Lewis County was huge, vaulting the Lewisburg squad to second place in the league standings, thanks to Spring Hill's (10-5, 7-3) 70-69 loss at Fairview Tuesday night.
It was not easy in Hohenwald for the Tigers, who trailed 24-22 at the half.
MCHS came back with 13 points in each of the next two quarters, while holding the Panthers to 22.
Lewis County had a three-point shot go wayward in the final seconds to secure the win for Marshall County (11-8, 8-2).
Chris Walker matched Peterson's dozen, while Barry Mayes scored seven, Cameron Bowers chipped in with five points, and Aaron Hobbs, Kacey Pleas, and Malek Sain all scored four points apiece.
Charter Helton was the Panthers' leading point provider, netting 14 points.