Aug
Tennessee Foreclosure Trends: August 2010 How many/where/patterns Hulya Arik, Ph.D. September, 2010
According to the latest data from the RealtyTrac® US Foreclosure Market Report, Tennessee reported 4,265 properties with foreclosure filings1 in August 2010. This volume represents an eight percent increase from the previous month (July 2010) and a two percent increase from the same month last year (August 2009). The total number of properties with foreclosure filings in Tennessee accounted for one percent of the 338,836 foreclosure filings in the nation. In Tennessee, the number of properties with foreclosure filings ranged from zero in Hancock and Lake Counties to 1,283 in Shelby County. In terms of the total number of properties with foreclosure filings, the U.S. had a four percent increase from July 2010, and a five percent decline from August 2009. On average, there was one filing for every 381 housing units in the nation. Nevada had the nation’s highest foreclosure rate with one foreclosure filing for every 84 housing units. Tennessee had one foreclosure filing for every 647 housing units, putting the State in 22nd place in the nation.
1
For Tennessee, RealtyTrac’s report (http://relatytrac.com/trendcenter/) incorporates documents filed in two phases of foreclosure: Auction — Notice of Trustee Sale (NTS); and Real Estate Owned (REO) properties that have been foreclosed on and repurchased by a bank.
In August 2010, there were 2,179 properties with Notice of Trustee Sales (NTS), a 14 percent increase from the last month and a 15 percent increase from the same month last year (August 2009). There were 2,086 properties repossessed by the lenders (REOs) in August 2010, a two percent increase from the last month (July 2010) and nine percent decline from the same month last year (August 2009).
Notice of Trustee Sales, REOs, and Total Number of Properties with Foreclosure Filings in Tennessee 2008-2010 6,000 5,000 4,000 3,000
2,000 1,000
Aug-08 Sep-08 Oct-08 Nov-08 Dec-08 Jan-09 Feb-09 Mar-09 Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-09 Oct-09 Nov-09 Dec-09 Jan-10 Feb-10 Mar-10 Apr-10 May-10 Jun-10 Jul-10 Aug-10
0
NTS (Notice of Trustee Sales)
REO
TOTAL
Source: RealtyTrac
The total foreclosure filings in four counties (Davidson, Hamilton, Knox, and Shelby) accounted for 52 percent of the total foreclosure filings in the State in August 2010. Shelby County, with one filing for every 314 housing units, had the highest foreclosure rate in the State. The County also had the highest number of properties with foreclosure filings in the State (1,283). The total volume of foreclosure filings in Shelby County increased by four percent from the previous month and declined by ten percent from the same month last year (August 2009). The county with the second highest number of properties with foreclosure filings was Davidson (451), followed by Hamilton County (249) and Knox County (245). Compared to August 2009, the total number of properties with foreclosure filings declined in August 2010 in Davidson and Knox Counties by five percent and four percent, respectively while foreclosure filings increased in Hamilton County by four percent. Thirtyseven counties recorded declines in foreclosure filings from last month, while 48 counties had increases. Ten counties did not see any change in the number of properties with foreclosure filings.
County Name Anderson Bedford Benton Bledsoe Blount Bradley Campbell Cannon Carroll Carter Cheatham Chester Claiborne Clay Cocke Coffee Crockett Cumberland Davidson Decatur DeKalb Dickson Dyer Fayette Fentress Franklin Gibson Giles Grainger Greene Grundy Hamblen Hamilton Hancock Hardeman Hardin Hawkins Haywood
Total Number of Properties August 2010 Total Number of Properties with 1/every X Foreclosure Housing Unit Filings (Rate) 27 16 9 2 59 54 14 10 11 17 33 5 20 2 15 21 9 18 451 4 6 33 10 11 2 16 32 6 10 33 3 40 249 0 9 10 26 5
1,270 1,090 1,000 2,706 899 769 1,369 569 1,234 1,611 478 1,359 751 2,084 1,105 1,108 707 1,353 629 1,691 1,480 611 1,716 1,335 3,984 1,190 710 2,293 1,024 935 2,195 665 604 -1,268 1,354 1,005 1,712
with Foreclosure Filings-Tennessee Counties- August 2010 July 2010 August 2009 Percent Changes Total Number of Total Number of Ranking Properties with Properties with % Change % Change among all Foreclosure Foreclosure from July from August counties Filings Filings 2010 2009 59 48 44 85 36 26 66 10 56 71 4 65 25 81 49 50 20 63 15 73 69 13 75 61 90 54 21 84 46 40 82 18 12 94 58 64 45 74
31 15 9 1 45 43 16 3 10 16 26 4 10 0 17 20 3 18 387 2 12 31 21 9 10 14 39 13 14 28 6 40 201 0 6 8 17 8
32 16 3 3 71 51 16 7 10 10 15 6 7 1 19 31 4 17 474 2 8 27 20 11 5 21 27 11 9 29 7 36 239 2 9 9 15 10
-13% 7% 0% 100% 31% 26% -13% 233% 10% 6% 27% 25% 100% --12% 5% 200% 0% 17% 100% -50% 6% -52% 22% -80% 14% -18% -54% -29% 18% -50% 0% 24% -50% 25% 53% -38%
-16% 0% 200% -33% -17% 6% -13% 43% 10% 70% 120% -17% 186% 100% -21% -32% 125% 6% -5% 100% -25% 22% -50% 0% -60% -24% 19% -45% 11% 14% -57% 11% 4% -100% 0% 11% 73% -50%
Total Number of Properties with Foreclosure Filings-Tennessee Counties- August 2010, Continued August 2010 July 2010 August 2009 Percent Changes Total Number of Total Number of Total Number of Properties with 1/every X Ranking Properties with Properties with % Change % Change County Foreclosure Housing Unit among all Foreclosure Foreclosure from July from August Name Filings (Rate) counties Filings Filings 2010 2009 Henderson Henry Hickman Houston Humphreys Jackson Jefferson Johnson Knox Lake Lauderdale Lawrence Lewis Lincoln Loudon Macon Madison Marion Marshall Maury McMinn McNairy Meigs Monroe Montgomery Moore Morgan Obion Overton Perry Pickett Polk Putnam Rhea Roane Robertson Rutherford Scott
4 9 19 2 4 2 25 6 245 0 13 16 6 18 32 14 53 4 23 72 24 14 6 26 93 1 4 9 1 3 2 10 36 14 27 62 209 2
3,026 1,852 491 2,043 2,246 2,707 903 1,420 803 -891 1,088 838 808 629 679 814 3,375 561 501 946 842 956 728 734 2,950 2,027 1,659 9,604 1,441 1,552 830 854 987 918 411 487 4,667
88 77 6 79 83 86 37 67 27 94 35 47 32 29 16 19 30 89 8 7 41 33 42 23 24 87 78 72 93 68 70 31 34 43 38 3 5 92
10 5 9 1 4 5 41 5 285 0 7 16 4 9 27 8 41 7 28 75 26 12 11 34 66 0 6 15 3 2 0 5 29 19 28 41 172 3
7 6 14 3 4 3 25 5 256 1 15 16 4 18 22 4 61 9 23 80 32 7 7 11 66 1 5 19 8 0 1 4 20 25 34 43 156 0
-60% 80% 111% 100% 0% -60% -39% 20% -14% -86% 0% 50% 100% 19% 75% 29% -43% -18% -4% -8% 17% -45% -24% 41% --33% -40% -67% 50% -100% 24% -26% -4% 51% 22% -33%
-43% 50% 36% -33% 0% -33% 0% 20% -4% -100% -13% 0% 50% 0% 45% 250% -13% -56% 0% -10% -25% 100% -14% 136% 41% 0% -20% -53% -88% -100% 150% 80% -44% -21% 44% 34% --
Total Number of Properties with Foreclosure Filings-Tennessee Counties- August 2010, Continued August 2010 July 2010 August 2009 Percent Changes Total Number of Total Number of Total Number of Properties with 1/every X Ranking Properties with Properties with % Change % Change County Foreclosure Housing Unit among all Foreclosure Foreclosure from July from August Name Filings (Rate) counties Filings Filings 2010 2009 Sequatchie Sevier Shelby Smith Stewart Sullivan Sumner Tipton Trousdale Unicoi Union Van Buren Warren Washington Wayne Weakley White Williamson Wilson Tennessee U.S. Total
9 121 1,283 9 5 36 112 36 3 2 5 2 13 46 6 13 17 78 61 4,265 338,836
580 358 314 921 1,266 2,060 566 650 1,142 4,289 1,844 1,289 1,342 1,164 1,178 1,210 628 806 717 647 381
11 2 1 39 57 80 9 17 51 91 76 60 62 52 53 55 14 28 22 22*
16 119 1,237 3 3 38 79 33 1 8 6 3 17 47 2 4 6 71 50 3,955 325,229
10 103 1,420 5 2 10 89 31 4 1 3 2 20 32 2 7 6 93 55 4,200 358,471
-44% 2% 4% 200% 67% -5% 42% 9% 200% -75% -17% -33% -24% -2% 200% 225% 183% 10% 22% 8% 4%
-10% 17% -10% 80% 150% 260% 26% 16% -25% 100% 67% 0% -35% 44% 200% 86% 183% -16% 11% 2% -5%
*Tennessee ranking in the nation among other states Source: RealtyTrac®
Tennessee Housing Development Agency 404 James Robertson Parkway, Suite 1200 Nashville, Tennessee 37243-0900
www.thda.org 615-815-2200
According to the latest data from the RealtyTrac® US Foreclosure Market Report, Tennessee reported 4,265 properties with foreclosure filings1 in August 2010. This volume represents an eight percent increase from the previous month (July 2010) and a two percent increase from the same month last year (August 2009). The total number of properties with foreclosure filings in Tennessee accounted for one percent of the 338,836 foreclosure filings in the nation. In Tennessee, the number of properties with foreclosure filings ranged from zero in Hancock and Lake Counties to 1,283 in Shelby County. In terms of the total number of properties with foreclosure filings, the U.S. had a four percent increase from July 2010, and a five percent decline from August 2009. On average, there was one filing for every 381 housing units in the nation. Nevada had the nation’s highest foreclosure rate with one foreclosure filing for every 84 housing units. Tennessee had one foreclosure filing for every 647 housing units, putting the State in 22nd place in the nation.
1
For Tennessee, RealtyTrac’s report (http://relatytrac.com/trendcenter/) incorporates documents filed in two phases of foreclosure: Auction — Notice of Trustee Sale (NTS); and Real Estate Owned (REO) properties that have been foreclosed on and repurchased by a bank.
In August 2010, there were 2,179 properties with Notice of Trustee Sales (NTS), a 14 percent increase from the last month and a 15 percent increase from the same month last year (August 2009). There were 2,086 properties repossessed by the lenders (REOs) in August 2010, a two percent increase from the last month (July 2010) and nine percent decline from the same month last year (August 2009).
Notice of Trustee Sales, REOs, and Total Number of Properties with Foreclosure Filings in Tennessee 2008-2010 6,000 5,000 4,000 3,000
2,000 1,000
Aug-08 Sep-08 Oct-08 Nov-08 Dec-08 Jan-09 Feb-09 Mar-09 Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-09 Oct-09 Nov-09 Dec-09 Jan-10 Feb-10 Mar-10 Apr-10 May-10 Jun-10 Jul-10 Aug-10
0
NTS (Notice of Trustee Sales)
REO
TOTAL
Source: RealtyTrac
The total foreclosure filings in four counties (Davidson, Hamilton, Knox, and Shelby) accounted for 52 percent of the total foreclosure filings in the State in August 2010. Shelby County, with one filing for every 314 housing units, had the highest foreclosure rate in the State. The County also had the highest number of properties with foreclosure filings in the State (1,283). The total volume of foreclosure filings in Shelby County increased by four percent from the previous month and declined by ten percent from the same month last year (August 2009). The county with the second highest number of properties with foreclosure filings was Davidson (451), followed by Hamilton County (249) and Knox County (245). Compared to August 2009, the total number of properties with foreclosure filings declined in August 2010 in Davidson and Knox Counties by five percent and four percent, respectively while foreclosure filings increased in Hamilton County by four percent. Thirtyseven counties recorded declines in foreclosure filings from last month, while 48 counties had increases. Ten counties did not see any change in the number of properties with foreclosure filings.
County Name Anderson Bedford Benton Bledsoe Blount Bradley Campbell Cannon Carroll Carter Cheatham Chester Claiborne Clay Cocke Coffee Crockett Cumberland Davidson Decatur DeKalb Dickson Dyer Fayette Fentress Franklin Gibson Giles Grainger Greene Grundy Hamblen Hamilton Hancock Hardeman Hardin Hawkins Haywood
Total Number of Properties August 2010 Total Number of Properties with 1/every X Foreclosure Housing Unit Filings (Rate) 27 16 9 2 59 54 14 10 11 17 33 5 20 2 15 21 9 18 451 4 6 33 10 11 2 16 32 6 10 33 3 40 249 0 9 10 26 5
1,270 1,090 1,000 2,706 899 769 1,369 569 1,234 1,611 478 1,359 751 2,084 1,105 1,108 707 1,353 629 1,691 1,480 611 1,716 1,335 3,984 1,190 710 2,293 1,024 935 2,195 665 604 -1,268 1,354 1,005 1,712
with Foreclosure Filings-Tennessee Counties- August 2010 July 2010 August 2009 Percent Changes Total Number of Total Number of Ranking Properties with Properties with % Change % Change among all Foreclosure Foreclosure from July from August counties Filings Filings 2010 2009 59 48 44 85 36 26 66 10 56 71 4 65 25 81 49 50 20 63 15 73 69 13 75 61 90 54 21 84 46 40 82 18 12 94 58 64 45 74
31 15 9 1 45 43 16 3 10 16 26 4 10 0 17 20 3 18 387 2 12 31 21 9 10 14 39 13 14 28 6 40 201 0 6 8 17 8
32 16 3 3 71 51 16 7 10 10 15 6 7 1 19 31 4 17 474 2 8 27 20 11 5 21 27 11 9 29 7 36 239 2 9 9 15 10
-13% 7% 0% 100% 31% 26% -13% 233% 10% 6% 27% 25% 100% --12% 5% 200% 0% 17% 100% -50% 6% -52% 22% -80% 14% -18% -54% -29% 18% -50% 0% 24% -50% 25% 53% -38%
-16% 0% 200% -33% -17% 6% -13% 43% 10% 70% 120% -17% 186% 100% -21% -32% 125% 6% -5% 100% -25% 22% -50% 0% -60% -24% 19% -45% 11% 14% -57% 11% 4% -100% 0% 11% 73% -50%
Total Number of Properties with Foreclosure Filings-Tennessee Counties- August 2010, Continued August 2010 July 2010 August 2009 Percent Changes Total Number of Total Number of Total Number of Properties with 1/every X Ranking Properties with Properties with % Change % Change County Foreclosure Housing Unit among all Foreclosure Foreclosure from July from August Name Filings (Rate) counties Filings Filings 2010 2009 Henderson Henry Hickman Houston Humphreys Jackson Jefferson Johnson Knox Lake Lauderdale Lawrence Lewis Lincoln Loudon Macon Madison Marion Marshall Maury McMinn McNairy Meigs Monroe Montgomery Moore Morgan Obion Overton Perry Pickett Polk Putnam Rhea Roane Robertson Rutherford Scott
4 9 19 2 4 2 25 6 245 0 13 16 6 18 32 14 53 4 23 72 24 14 6 26 93 1 4 9 1 3 2 10 36 14 27 62 209 2
3,026 1,852 491 2,043 2,246 2,707 903 1,420 803 -891 1,088 838 808 629 679 814 3,375 561 501 946 842 956 728 734 2,950 2,027 1,659 9,604 1,441 1,552 830 854 987 918 411 487 4,667
88 77 6 79 83 86 37 67 27 94 35 47 32 29 16 19 30 89 8 7 41 33 42 23 24 87 78 72 93 68 70 31 34 43 38 3 5 92
10 5 9 1 4 5 41 5 285 0 7 16 4 9 27 8 41 7 28 75 26 12 11 34 66 0 6 15 3 2 0 5 29 19 28 41 172 3
7 6 14 3 4 3 25 5 256 1 15 16 4 18 22 4 61 9 23 80 32 7 7 11 66 1 5 19 8 0 1 4 20 25 34 43 156 0
-60% 80% 111% 100% 0% -60% -39% 20% -14% -86% 0% 50% 100% 19% 75% 29% -43% -18% -4% -8% 17% -45% -24% 41% --33% -40% -67% 50% -100% 24% -26% -4% 51% 22% -33%
-43% 50% 36% -33% 0% -33% 0% 20% -4% -100% -13% 0% 50% 0% 45% 250% -13% -56% 0% -10% -25% 100% -14% 136% 41% 0% -20% -53% -88% -100% 150% 80% -44% -21% 44% 34% --
Total Number of Properties with Foreclosure Filings-Tennessee Counties- August 2010, Continued August 2010 July 2010 August 2009 Percent Changes Total Number of Total Number of Total Number of Properties with 1/every X Ranking Properties with Properties with % Change % Change County Foreclosure Housing Unit among all Foreclosure Foreclosure from July from August Name Filings (Rate) counties Filings Filings 2010 2009 Sequatchie Sevier Shelby Smith Stewart Sullivan Sumner Tipton Trousdale Unicoi Union Van Buren Warren Washington Wayne Weakley White Williamson Wilson Tennessee U.S. Total
9 121 1,283 9 5 36 112 36 3 2 5 2 13 46 6 13 17 78 61 4,265 338,836
580 358 314 921 1,266 2,060 566 650 1,142 4,289 1,844 1,289 1,342 1,164 1,178 1,210 628 806 717 647 381
11 2 1 39 57 80 9 17 51 91 76 60 62 52 53 55 14 28 22 22*
16 119 1,237 3 3 38 79 33 1 8 6 3 17 47 2 4 6 71 50 3,955 325,229
10 103 1,420 5 2 10 89 31 4 1 3 2 20 32 2 7 6 93 55 4,200 358,471
-44% 2% 4% 200% 67% -5% 42% 9% 200% -75% -17% -33% -24% -2% 200% 225% 183% 10% 22% 8% 4%
-10% 17% -10% 80% 150% 260% 26% 16% -25% 100% 67% 0% -35% 44% 200% 86% 183% -16% 11% 2% -5%
*Tennessee ranking in the nation among other states Source: RealtyTrac®
Tennessee Housing Development Agency 404 James Robertson Parkway, Suite 1200 Nashville, Tennessee 37243-0900
www.thda.org 615-815-2200
