The man was life-flighted to Grady Hospital in Atlanta while his wife was transported to Floyd Medical Center (FMC).
Cedartown Fire Department Chief Sammy Stephens isn't releasing the victims’ names at this time because of their injuries.
Stephens said the man is “holding his own” and the woman is stable.
The husband suffered severe burns and smoke inhalation, he said. The wife also had similar injuries, although not as severe.
Stephens said a report of a house fire at 444 Sixth Street with possible entrapment was called in to Polk County 911 around 6 p.m.
Firefighters arrived on the scene and found the woman outside, stating that her husband was still inside. Firefighters were able to rescue the man from the burning house.
Stephens said that he, along with firefighters and officials from the State Fire Marshal's Office are currently investigating the cause of the fire.
He confirmed that an oxygen tank exploded in the blaze, but stated it didn't start the fire. Rather, Stephens said the fire caused the tank to explode.