I think once you paint or stain the brick white the mantle will really stand out and look like a rustic and more farm like feature. Is that the look you're going for? If so then I would wrap the beams on your ceiling to match the fireplace mantle. I would think about lightening the color of all of them though. Also the mantle looks high to me I would lower it. The space to the right of the fireplace looks painful to me. I would think about taking that fireplace mantle beam across and then adding a couple more to do shelves down that side. I think the main issue with that fireplace wall is it isn't balanced .Explain that tile again. Are you placing it on top of the hearth (now brick)? Or on the actual floor surrounding the fireplace? Either way I would eliminate the tile. I don't see any need for it. Are you or did you add the window? It looks like it hasn't been finished with casing yet. What color will the casing be?

Art lovers usually start with an art work and choose paint colors and furnishings that harmonize with the art. However, you're going the other direction since you already have your furnishings. First of all, you'll be looking for a vertical piece that will cover most of the wall above the fireplace. What subjects do you think you might like? What's the palette in the room right now? (Wall and floor colors?) Landscape? Skyscape? Abstract? Realistic? Start to think about this. Look at what Beverly and Olychick posted. Notice how the art and curtains pull the eye away from the massive TV and balance out the space. I like the color block idea that Beverly chose. We haven't seen enough of the living room to make a call on this. Good luck!

It really depends upon the rest of what is occurring in the room. Probably not if the wall to wall carpet is staying. The fireplace is not the issue............might be the 1/4 pie transom windows in the wall.

There have been some great suggestions, but I feel like we’re working in a vacuum here. What is your vision for your home? Although this has focused on the knotty pine, whether to paint it, and what flooring to pick, so much of the process is about the style you want, the furniture you have (or will buy), the colors you like, and the budget. I could go with light oak flooring, old Oriental rugs, nautical touches, red and navy and off-white, but I could also pick a dark green marmoleum floor, Morris chairs, black painted bookcases, a more rustic vibe, and plaids. How do you see it all coming together?