It shouldn't be surprising that a teen show about Superman is inconsistent in its presentation of physics and the exact magnitude of the hero's power.
There are times when Clark does things that arguably require him to move faster than light, such as running through a fight and grabbing bullets without anyone seeing him or outrunning a camera, and other times where he moves at more mundane speeds.
This is further muddled by the lack of sonic booms or atomic explosions, which would contradict the speed he shows if you're worried about real physics.
So, somewhere between super fast and faster than light, depending on the story requirements.
Here's a mathematical breakdown of his speed moving across a bridge in a particular episode. They calculated his speed at at 296 mph, so consider that a lower bound.