Georgia led by seven with less than 3 minutes left, but LSU charged back to tie the game on a basket by Sylvia Fowles with 7 seconds remaining.
Houts then drove the length of the floor to hit the winning shot.
Officials reviewed the play to verify Houts made the shot before time expired.
Quianna Chaney scored 20 points while setting a career high with five 3-pointers to lead LSU (20-3, 6-2 Southeastern Conference), which got 17 points and 18 rebounds from Fowles. The Lady Bulldogs moved into a tie with LSU for second place in the SEC.
Tasha Humphrey scored 15 points and grabbed 12 rebounds to lead Georgia (19-4, 6-2) in the defensive struggle. Georgia shot 30.5 percent from the field and LSU shot 31.5 percent.
Georgia trailed most of the game before Angel Robinson, playing with four fouls, scored six consecutive points to cap a 12-0 second-half run and give the Lady Bulldogs their first lead.
Georgia, which trailed by seven early in the second half, took its first lead at 41-40 with 8:27 left on Humphrey's first 3-pointer of the game.
The Lady Bulldogs gained momentum with Humphrey and the 6-foot-5 Robinson in the lineup together, and coach Andy Landers stuck with the plan even after Robinson was called for her fourth foul with 6:12 left.
Robinson answered the vote of confidence with three consecutive inside baskets for a 47-40 lead, completing the 12-0 run.
Robinson, who scored 12 points, fouled out with 2:04 left and Georgia leading 49-42.
Chaney cut the lead to 49-47 on her fifth 3-pointer with 1:27 to go, but missed a potential tying layup, and Cori Chambers made two free throws to push the lead back to four points at 51-47.
Fowles scored with 24 seconds left to cut the lead to two, and Houts missed a free throw with 22 seconds left.