One man was treated by paramedics for minor injuries after the incident in Brownhills , while armed police searched a property but found no weapon.
Officers from West Midlands Police and crews from West Midlands Ambulance Service were called to Cedar Avenue at around 7pm on Thursday.
Police now believe the incident was the result of a neighbourhood dispute.
Nobody has been arrested.
A spokesman for West Midlands Police said: "We are investigating a disorder on Cedar Avenue, Brownhills.
"Our investigations are at an early stage and it is currently believed to have been a neighbourhood dispute, although at this stage no-one has made any formal complaints to us.
"There were reports of a firearm at the scene, but our armed response officers searched a property and no firearm was located."
A spokesman for West Midlands Ambulance Service said: "We were called at 7.05pm to reports of an assault in Cedar Avenue, Brownhills.
"We sent one ambulance to the scene and treated one man for minor injuries, not believed to be serious and he was discharged at the scene."
Anyone with information should call police on 101 quoting log number 3985-150421.