Tennessee Foreclosure Trends: August 2011 How many
Tennessee Foreclosure Trends: August 2011 How many/where/patterns Hulya Arik, Ph.D. October, 2011 According to the latest data from the RealtyTrac® U.S. Foreclosure Market Report, Tennessee had 2,359 properties with foreclosure filings in August 2011, which represents a nine percent decrease compared to the previous month (July 2011) and a 45 percent decline from the same month last year. August 2011 was the 12th consecutive month of annual decline in Tennessee properties with foreclosure filings, and foreclosure filings are at the lowest level since March 2007, the earliest month we have data to compare. Tennessee had one foreclosure filing for every 1,179 housing units. The U.S. had a seven percent increase from July 2011, and a 33 percent decrease from August 2010. On average, there was one filing for every 570 housing units in the nation. Nevada had the nation’s highest foreclosure rate with one foreclosure filing for every 118 housing units. The total number of properties with foreclosure filings in Nevada decreased by three percent compared to the previous month. The number of properties with foreclosure filings ranged from zero in Clay, Hancock, and Pickett counties to 418 in Shelby County. The total foreclosure filings in four counties (Davidson, Hamilton, Knox, and Shelby) accounted for about 44 percent of the total foreclosure filings in the State in August 2011. Marshall County, with one filing for every 354 housing units, had the highest foreclosure rate in the State. The total number of properties with foreclosure filings increased from 15 in July 2011 to 37 in August 2011 in Marshall County. In Shelby County, the total volume of foreclosure filings decreased by six percent from the previous month and declined by 67 percent from the same month last year. Davidson County followed Shelby County with 293 properties with foreclosure filings. In Davidson County, the total number of properties with foreclosure filings decreased by five percent from last month (July 2011) and declined by 35 percent from the same month last year. The county with the third highest number of properties with foreclosure filings was Knox (209), followed by Hamilton County (128). Fifty counties recorded declines in foreclosure filings from last month, while 29 counties had increases. Sixteen counties did not see any change in the number of properties with foreclosure filings. Compared to the previous year, the number of properties with foreclosure filings declined in 69 counties, while 17 counties had increases. Nine counties did not have any change from the previous year.
In August 2011, 1,100 properties had a notice of trustee sales (NTS), a four percent decline from the last month and a 50 percent decline from the same month last year (August 2010). The number of properties repossessed by the lenders (REOs) in August 2011 was 1,259, a 13 percent decrease from the last month (July 2011) and a 40 percent decline from the same month last year (August 2010).
Notice of Trustee Sales (NTS), REOs, and Total Number of Properties with Foreclosure Filings Tennessee, 2009-2011 6,000 5,000 4,000 3,000 2,000 1,000
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 Sep-10 Oct-10 Nov-10 Dec-10 Jan-11 Feb-11 Mar-11 Apr-11 May-11 Jun-11 Jul-11 Aug-11
0
NTS (Notice of Trustee Sales)
Source: RealtyTrac
REO
TOTAL
Total Number of Properties August 2011 Total Number of 1/every X Properties with Housing Foreclosure Unit County Name Filings (Rate) 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
15 20 2 3 33 26 17 1 8 10 21 2 12 0 7 17 3 18 293 2 8 18 15 8 5 12 19 11 7 34 5 27 128 0 8 6 16 6
2,297 882 4,546 1,822 1,622 1,612 1,145 5,737 1,709 2,767 760 3,433 1,268 -2,393 1,386 2,143 1,367 973 3,410 1,116 1,131 1,149 1,867 1,607 1,602 1,205 1,259 1,481 917 1,329 993 1,181 -1,439 2,275 1,648 1,430
with Foreclosure Filings-Tennessee Counties-August 2011 July 2011 August 2010 Percent Changes Total Number of Total Number of % Change Ranking Properties with Properties with % Change from among all Foreclosure Foreclosure from July August counties* Filings Filings 2011 2010 69 8 86 54 46 45 21 88 50 75 5 84 28 93 71 34 65 33 13 83 17 19 22 55 44 43 26 27 40 9 31 15 24 93 39 68 47 37
18 18 8 6 43 28 32 4 7 11 23 5 13 2 15 13 5 17 308 7 1 18 8 8 5 9 25 13 4 17 4 24 165 1 7 9 11 14
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
-17% 11% -75% -50% -23% -7% -47% -75% 14% -9% -9% -60% -8% -100% -53% 31% -40% 6% -5% -71% 700% 0% 88% 0% 0% 33% -24% -15% 75% 100% 25% 13% -22% -100% 14% -33% 45% -57%
-44% 25% -78% 50% -44% -52% 21% -90% -27% -41% -36% -60% -40% -100% -53% -19% -67% 0% -35% -50% 33% -45% 50% -27% 150% -25% -41% 83% -30% 3% 67% -33% -49% --11% -40% -38% 20%
Total Number of Properties with Foreclosure Filings-Tennessee Counties-August 2011, Continued August 2011 July 2011 August 2010 Percent Changes Total Number of 1/every X Total Number of Total Number of % Change Properties with Housing Ranking Properties with Properties with % Change from Foreclosure Unit among all Foreclosure Foreclosure from July August County Name Filings (Rate) counties* Filings Filings 2011 2010 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 6 15 2 4 3 23 1 209 1 6 10 3 17 12 4 38 10 37 52 12 5 2 16 44 1 4 8 4 1 0 1 22 10 19 22 120 2
3,055 2,802 627 2,063 2,264 1,821 992 8,593 946 2,781 1,944 1,754 1,694 862 1,697 2,412 1,144 1,365 354 701 1,904 2,373 2,919 1,196 1,576 2,988 2,046 1,876 2,423 4,369 -8,406 1,422 1,400 1,314 1,168 865 4,714
81 77 2 63 67 53 14 92 11 76 59 52 48 6 49 72 20 32 1 4 58 70 79 25 41 80 62 57 73 85 93 91 36 35 29 23 7 87
8 6 10 0 4 2 22 4 190 1 6 14 5 13 17 3 35 6 15 56 24 5 2 23 44 3 4 9 7 1 0 10 19 15 21 43 167 1
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
-50% 0% 50% -0% 50% 5% -75% 10% 0% 0% -29% -40% 31% -29% 33% 9% 67% 147% -7% -50% 0% 0% -30% 0% -67% 0% -11% -43% 0% --90% 16% -33% -10% -49% -28% 100%
0% -33% -21% 0% 0% 50% -8% -83% -15% --54% -38% -50% -6% -63% -71% -28% 150% 61% -28% -50% -64% -67% -38% -53% 0% 0% -11% 300% -67% -100% -90% -39% -29% -30% -65% -43% 0%
Total Number of Properties with Foreclosure Filings-Tennessee Counties-August 2011, Continued August 2011 July 2011 August 2010 Percent Changes Total Number of 1/every X Total Number of Total Number of % Change Properties with Housing Ranking Properties with Properties with % Change from Foreclosure Unit among all Foreclosure Foreclosure from July August County Name Filings (Rate) counties* Filings Filings 2011 2010 Sequatchie Sevier Shelby Smith Stewart Sullivan Sumner Tipton Trousdale Unicoi Union Van Buren Warren Washington Wayne Weakley White Williamson Wilson Tennessee** U.S. Total
4 64 418 4 4 52 68 21 2 3 5 1 3 17 1 8 5 63 23 2,359 228,098
1,323 685 964 2,095 1,599 1,435 943 1,123 1,732 2,878 1,870 2,601 5,882 3,200 7,134 1,980 2,153 1,005 1,946 1,179 570
30 3 12 64 42 38 10 18 51 78 56 74 89 82 90 61 66 16 60 31
9 84 444 8 5 41 72 11 2 3 5 3 4 32 2 6 9 62 48 2,591 212,764
9 121 1,283 9 5 36 112 36 3 2 5 2 13 46 6 13 17 78 61 4,265 338,836
-56% -24% -6% -50% -20% 27% -6% 91% 0% 0% 0% -67% -25% -47% -50% 33% -44% 2% -52% -9% 7%
*County ranking is based on the rate of foreclosure filings, a rank of one means the county had the highest ratio of foreclosure to housing units. **Tennessee ranking in the nation among other states, a rank of one means the state had the highest ratio of foreclosure to housing units. Source: RealtyTrac®
-56% -47% -67% -56% -20% 44% -39% -42% -33% 50% 0% -50% -77% -63% -83% -38% -71% -19% -62% -45% -33%
August 2011 Total Number of Foreclosure Filings by County
Source: RealtyTrac©
Tennessee Housing Development Agency 404 James Robertson Parkway, Suite 1200 Nashville, Tennessee 37243-0900
www.thda.org 615-815-2200
In August 2011, 1,100 properties had a notice of trustee sales (NTS), a four percent decline from the last month and a 50 percent decline from the same month last year (August 2010). The number of properties repossessed by the lenders (REOs) in August 2011 was 1,259, a 13 percent decrease from the last month (July 2011) and a 40 percent decline from the same month last year (August 2010).
Notice of Trustee Sales (NTS), REOs, and Total Number of Properties with Foreclosure Filings Tennessee, 2009-2011 6,000 5,000 4,000 3,000 2,000 1,000
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 Sep-10 Oct-10 Nov-10 Dec-10 Jan-11 Feb-11 Mar-11 Apr-11 May-11 Jun-11 Jul-11 Aug-11
0
NTS (Notice of Trustee Sales)
Source: RealtyTrac
REO
TOTAL
Total Number of Properties August 2011 Total Number of 1/every X Properties with Housing Foreclosure Unit County Name Filings (Rate) 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
15 20 2 3 33 26 17 1 8 10 21 2 12 0 7 17 3 18 293 2 8 18 15 8 5 12 19 11 7 34 5 27 128 0 8 6 16 6
2,297 882 4,546 1,822 1,622 1,612 1,145 5,737 1,709 2,767 760 3,433 1,268 -2,393 1,386 2,143 1,367 973 3,410 1,116 1,131 1,149 1,867 1,607 1,602 1,205 1,259 1,481 917 1,329 993 1,181 -1,439 2,275 1,648 1,430
with Foreclosure Filings-Tennessee Counties-August 2011 July 2011 August 2010 Percent Changes Total Number of Total Number of % Change Ranking Properties with Properties with % Change from among all Foreclosure Foreclosure from July August counties* Filings Filings 2011 2010 69 8 86 54 46 45 21 88 50 75 5 84 28 93 71 34 65 33 13 83 17 19 22 55 44 43 26 27 40 9 31 15 24 93 39 68 47 37
18 18 8 6 43 28 32 4 7 11 23 5 13 2 15 13 5 17 308 7 1 18 8 8 5 9 25 13 4 17 4 24 165 1 7 9 11 14
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
-17% 11% -75% -50% -23% -7% -47% -75% 14% -9% -9% -60% -8% -100% -53% 31% -40% 6% -5% -71% 700% 0% 88% 0% 0% 33% -24% -15% 75% 100% 25% 13% -22% -100% 14% -33% 45% -57%
-44% 25% -78% 50% -44% -52% 21% -90% -27% -41% -36% -60% -40% -100% -53% -19% -67% 0% -35% -50% 33% -45% 50% -27% 150% -25% -41% 83% -30% 3% 67% -33% -49% --11% -40% -38% 20%
Total Number of Properties with Foreclosure Filings-Tennessee Counties-August 2011, Continued August 2011 July 2011 August 2010 Percent Changes Total Number of 1/every X Total Number of Total Number of % Change Properties with Housing Ranking Properties with Properties with % Change from Foreclosure Unit among all Foreclosure Foreclosure from July August County Name Filings (Rate) counties* Filings Filings 2011 2010 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 6 15 2 4 3 23 1 209 1 6 10 3 17 12 4 38 10 37 52 12 5 2 16 44 1 4 8 4 1 0 1 22 10 19 22 120 2
3,055 2,802 627 2,063 2,264 1,821 992 8,593 946 2,781 1,944 1,754 1,694 862 1,697 2,412 1,144 1,365 354 701 1,904 2,373 2,919 1,196 1,576 2,988 2,046 1,876 2,423 4,369 -8,406 1,422 1,400 1,314 1,168 865 4,714
81 77 2 63 67 53 14 92 11 76 59 52 48 6 49 72 20 32 1 4 58 70 79 25 41 80 62 57 73 85 93 91 36 35 29 23 7 87
8 6 10 0 4 2 22 4 190 1 6 14 5 13 17 3 35 6 15 56 24 5 2 23 44 3 4 9 7 1 0 10 19 15 21 43 167 1
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
-50% 0% 50% -0% 50% 5% -75% 10% 0% 0% -29% -40% 31% -29% 33% 9% 67% 147% -7% -50% 0% 0% -30% 0% -67% 0% -11% -43% 0% --90% 16% -33% -10% -49% -28% 100%
0% -33% -21% 0% 0% 50% -8% -83% -15% --54% -38% -50% -6% -63% -71% -28% 150% 61% -28% -50% -64% -67% -38% -53% 0% 0% -11% 300% -67% -100% -90% -39% -29% -30% -65% -43% 0%
Total Number of Properties with Foreclosure Filings-Tennessee Counties-August 2011, Continued August 2011 July 2011 August 2010 Percent Changes Total Number of 1/every X Total Number of Total Number of % Change Properties with Housing Ranking Properties with Properties with % Change from Foreclosure Unit among all Foreclosure Foreclosure from July August County Name Filings (Rate) counties* Filings Filings 2011 2010 Sequatchie Sevier Shelby Smith Stewart Sullivan Sumner Tipton Trousdale Unicoi Union Van Buren Warren Washington Wayne Weakley White Williamson Wilson Tennessee** U.S. Total
4 64 418 4 4 52 68 21 2 3 5 1 3 17 1 8 5 63 23 2,359 228,098
1,323 685 964 2,095 1,599 1,435 943 1,123 1,732 2,878 1,870 2,601 5,882 3,200 7,134 1,980 2,153 1,005 1,946 1,179 570
30 3 12 64 42 38 10 18 51 78 56 74 89 82 90 61 66 16 60 31
9 84 444 8 5 41 72 11 2 3 5 3 4 32 2 6 9 62 48 2,591 212,764
9 121 1,283 9 5 36 112 36 3 2 5 2 13 46 6 13 17 78 61 4,265 338,836
-56% -24% -6% -50% -20% 27% -6% 91% 0% 0% 0% -67% -25% -47% -50% 33% -44% 2% -52% -9% 7%
*County ranking is based on the rate of foreclosure filings, a rank of one means the county had the highest ratio of foreclosure to housing units. **Tennessee ranking in the nation among other states, a rank of one means the state had the highest ratio of foreclosure to housing units. Source: RealtyTrac®
-56% -47% -67% -56% -20% 44% -39% -42% -33% 50% 0% -50% -77% -63% -83% -38% -71% -19% -62% -45% -33%
August 2011 Total Number of Foreclosure Filings by County
Source: RealtyTrac©
Tennessee Housing Development Agency 404 James Robertson Parkway, Suite 1200 Nashville, Tennessee 37243-0900
www.thda.org 615-815-2200
