Tom Selleck got everyone worried this week that he was strapped for cash and possibly at risk of losing his beloved California ranch -- but as it turns out ... he wasn't being literal.

Sources with direct knowledge tell TMZ ... Tom's interview with CBS Sunday Morning this past weekend -- in which he first made the shocking revelation that he might have to give up his ranch now that "Blue Bloods" is going off the air -- was more hyperbole than reality.

We're told TS was more so using his 63-acre California ranch as an example of his hunger to want to keep working -- something else he made very clear in that televised sit-down.

In other words ... our sources tell us Tom's ranch isn't going anywhere -- and that his words weren't meant to be a real reflection of his financial situation ... which, BTW, we're told is 100% fine.

Our sources say that when "Blue Bloods" finally wraps -- Tom will be on to the next project ... 'cause the dude just has that dog in him, and he's just not ready to slow down quite yet.

As we reported ... Tom's interview shocked a lot of folks, including the CBS interviewer herself -- who asked him if he was serious about the possibility of losing the ranch ... to which he replied he was. Again, we've been assured that's simply not going to happen.

Interestingly enough, we dug up some property records on Tom's Valencia County property -- and it's actually worth a bundle. Tom's taken out some loans on the place dating back to the 2000s ... and they add up to about $15-$16 million in debt, although it's unclear how much of that is paid off at this point. The ranch itself is actually worth about $12 million total.

While that might sound like a lot that Tom's on the hook for, keep in mind -- the guy's reportedly been paid handsomely for his role on 'BB,' upwards of $200k per episode.