I have an Ironwood 885. The Traegers have a couple of moving parts. One is the auger than pushes pellets into the burn pot. It is pretty slow and should only make noise when a large pellet has to be broken in to multiple pieces. The second moving part is a fan that blows air into the burn pot for combustion and then caused the heated are to circulate throughout the cooking chamber. The fan can be relatively noisy since it runs at fairly high speed. Generally, with the lid closed, it will be difficult to hear the noise more than a few feet away. However, if you are trying to run the grill at max temp, the fan will run at full speed. If you open the lid, it gives off a roar similar to a jet plane, but not nearly as loud as the jet.
If you have a smartphone, you can download sound analyzer apps that will tell you the sound level in decibels as well as the specific frequencies that make up the sound you are hearing. However, I suspect that you will find the sound you are hearing is perfectly normal. If the grill is placed adjacent to a brick wall that will reflect the sound, the primary sound and its relection might be in phase and amplifying the overall sound.