Yes, METERS is a Scrabble word!

Letter values in Scrabble US: M 3, E 1, T 1, E 1, R 1, S 1.

Is it a valid word?

METERS is a valid word in the official Scrabble dictionary (US), the UK Scrabble Dictionary and Words with Friends (ENABLE).

the basic unit of length adopted under the Systeme International d'Unites (approximately 1.094 yards)
any of various measuring instruments for measuring a quantity
(prosody) the accent in a metrical foot of verse
rhythm as given by division into parts of equal duration

Also: m.