Showing content of subterm under parent term
This may not be the most standard way of achieving it but it may help in your case. 
Just try the following code by replacing 24 with a $termid that exists in your case. And see if this gets your work done.

    //to get the children of a taxonomy term
    //lets take 24 for example 

      $terms = taxonomy_get_children('24');

      //to get the nodes associated with a termid

     foreach ($terms as $term) {
         $termnodes = taxonomy_select_nodes($term-&gt;tid);

         foreach ($termnodes as $termnode) {
              $node = node_load($termnode);
              $node_output = node_view($node);
              print render($node_output, $view_mode = 'teaser'));
        }
  }