All tanks make a surprising amount of odd high pitched squeaking noises from the movement of the tracks, although engine noise in tanks is also loud. Some WWII tanks did not use as much rubber in the tracks as modern tanks. Using more steel in the road wheels or tracks and less rubber tends to make the tracks louder, with more clanks, squeals, and squeaks. German tanks, including Tigers, tended to reduce or eliminate rubber on the tires towards the end of the war, because even synthetic rubber became scarce. Using all steel construction makes the tracks louder.

It's not uncommon in allied WWII Tanker memoirs for soldiers to describe the German tanks as having a different sound than Allied tanks. This could be tactically significant in night actions.

"Like a Submarine" isn't how I'd describe the noises tanks make, but it's not a totally crazy description.